Dawood Ibrahim's three properties sold to trust for Rs 11.5 crore

Dawood Ibrahim

Of the six properties being auctioned by the competent authority, SAFEMA, Mumbai, three properties located in Bhendi Bazaar belonged to fugitive gangster Dawood Ibrahim, and have caught the interest of the Saifee Burhani Upliftment Trust (SBUT) that is redeveloping Bhendi Bazaar. The Ministry of Finance auctioned the property under Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976. 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.

"These buildings are in dilapidated condition and unfit for living".

The Saifee Burhani Upliftment Trust was the highest bidder for the three properties, news agency PTI quoted an official as saying.

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

The Raunaq hotel is said to be among the first properties purchased by Dawood after he took control of his smuggling business.

"The Damarwala building near Bhindi Bazaar, the old residence of Dawood until he fled was bought by Amina Bi, Dawood's mother, and Kaskar from from Abdul Hussain Damarwala in the 1980's,"said a tenant". He allegedly lived there with this family before leaving the country in 1986.

Reports suggest the Rounaq Afroz restaurant was auctioned for Rs 4.53 crore.

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. The Hindu Mahasabha is one of the applicants who wants to buy Dawood Ibrahim property.

Hence, the property is being auctioned again. Veteran journalist S Balakrishnan had a;sp bid for the hotel in 2015, but he failed to arrange the funds.

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