Dawood's properties auctioned: Private trust to redevelop them for Bhendi Bazar residents
Nov 14 2017 by Desiree Burns
The three Mumbai-based properties of underworld don Dawood Ibrahim has been auctioned for more than Rs 11 crore on Tuesday. The auction will be held in Churchgate on Tuesday.The three properties include a two-storied building, Shabnam Guest House; six flats in Damarwala building; and a restaurant Rounaq Afroz.
This auction was conducted by the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 by the Ministry of Finance. The reserve price for Damarwala Building was set at Rs 1.56 crore, for Hotel Raunak Afroz at Rs 1.19 crore and for Shabnam Guest House, it was Rs 1.22 crpre. "We are participating only because the buildings are important for a complete redevelopment", said a source from SBUT.The authority plans to sell the first two properties as the buildings are dilapidated and unsafe for occupation.
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The Saifee Burhani Upliftment Trust was the highest bidder for the three properties, news agency PTI quoted an official as saying. The Reserve price kept for the property was Rs 1,55,76,000.
The Raunaq hotel is said to be among the first properties purchased by Dawood after he took control of his smuggling business. Officials said Iqbal Kaskar had provided the addresses of four residences belonging to Dawood Ibrahim in Karachi. The Appellate Tribunal for Forfeited Property, however, had dismissed the appeals under SAFEMA. During the auction carried out in 2015, there was intelligence input that the gangsters of Dawood gang were watching us round the clock. Hence, the property was auctioned again today. In 2015, Hotel Rounak Afroz had gone under the hammer for 4.28 crore. However, there was no response to the auction on previous occasions.