10-acre land of Landmark Housing Projects up for e-auction; reserve price set at ₹ 192 crore

The liquidator of Landmark Housing Projects Chennai Pvt Ltd has invited bids for the e-auction of the company’s prime land parcels measuring approximately 9.8 acres in Sholinganallur, Chennai, as part of the corporate insolvency process under the Insolvency and Bankruptcy Code (IBC), 2016. The combined reserve price for the properties has been fixed at Rs 192 crore, according to the auction notice. The assets, comprising four schedules of vacant lands located in Sholinganallur village, Kancheepuram district, will be sold together as a single lot on an “as is where is and whatever there is” and “no complaint” basis.

Key dates include:

• Last date for submission of KYC documents and Section 29A undertakings: August 7, 2025
• Last date for EMD payment: August 7, 2025
• Dates for inspection of the properties: July 15 and July 30, from 11 am to 3 pm
• Date of e-auction: August 12, 2025, between 11 am and 12 noon on the IBBI-approved portal https://ibbi.baanknet.com

The auction covers:

• Schedule A: 4.5 acres near Savithri Garden
• Schedule B: 1.74 acres in Vishnu Garden
• Schedule C: 2.56 acres in Vishnu Garden
• Schedule D: 1 acre adjacent land

All plots fall under the Neelangarai Sub-Registration District and South Chennai Registration District. The liquidator has advised prospective bidders to carry out their own due diligence before participating in the auction.

Further details, including the detailed bid document, can be accessed on the e-auction portal.

Background

The Chennai Bench of the National Company Law Tribunal (NCLT) had ordered the liquidation of Landmark Housing Projects Chennai Private Limited on April 16, 2025. Liquidation order was passed by the NCLT after dismissal of the resolution plan submitted by Bommidala Enterprises.

The resolution plan for Landmark Housing Projects Chennai Private Limited was dismissed after three-month extension period for completion of the plan ended on March 26, 2025, and the monitoring committee asked for further extension.

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