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Dawood Ibrahim's Mumbai Properties Auctioned For Over 11 Crores, Includes Hotel

14 Novembre 2017

The three Mumbai-based properties of underworld don Dawood Ibrahim has been auctioned for more than Rs 11 crore on Tuesday.

The trust, run by the Bohra community, won bids for the three properties which includes two residences - six rooms of the Damarwala building and the Shabnam guest house - and a restaurant in Bhendi Bazaar named Hotel Raunaq Afroz (also known as Delhi Zaika).

The three properties, which are described as decrepit and unfit for living, would be refurbished, said the Saifee Trust in a statement. "Therefore, to ensure safety of the families living in these buildings and to carry on with redevelopment project, we participated in bidding and acquired these properties", the Saifee Burhani Upliftment Trust spokesperson said.

Summary: The reserve price for the three properties are Rs 1.21 crore, Rs 1.55 crore and Rs 1.18 crore respectively.

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The first and the third floor apartments in the Damarwala building belonged to Dawood's ancestors, say officers. Dawood used to stay at Damarwala Building with his family till he fled the country in 1986.

The Appellate Tribunal for Forfeited Property had cleared the takeover of the properties by the government under the provisions of SAFEMA and this cleared the deck for auction. "However, it could not succeed back then".

Reports suggest the Rounaq Afroz restaurant was auctioned for Rs 4.53 crore. But the auction couldn't take place. Hence, the property was auctioned again today. After that, his properties were seized under SAFEMA (Smuggling and Foreign Exchange Manipulation ACT). Veteran journalist S Balakrishnan had a;sp bid for the hotel in 2015, but he failed to arrange the funds.

Dawood Ibrahim's Mumbai Properties Auctioned For Over 11 Crores, Includes Hotel