3 PROPERTIES OF DAWOOD IBRAHIM AUCTIONED FOR ₹11.58 CRORE
Three south Mumbai properties belonging to fugitive don Dawood Ibrahim were auctioned for ₹11.58 crore on Tuesday, according to an official involved in the process.
The properties — Hotel Raunaq Afroz, also known as Delhi Zaika, Shabnam Guest House and six rooms in Damarwala building — were put on auction by the ministry of finance, under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act.
The Saifee Burhani Upliftment Trust (SBUT) was the highest bidder for the three properties, the official said.
While the Raunaq Afroz hotel attracted a bid of ₹4.53 crore, Shabnam Guest House got a bid of ₹3.52 crore and the rooms in the Damarwala building went for ₹3.53 crore, he said.
The properties were taken over by the government after the March 1993 Mumbai serial bomb blasts and put on the auction block at least thrice in the past, including the last unsuccessful attempt two years ago.
“These buildings are in a dilapidated condition and are unfit for living. Therefore, to ensure the safety of the families living there and to carry on with the redevelopment project, we participated in the bidding and acquired these properties,” the SBUT spokesperson added.