Dawood's properties auctioned: Private trust to redevelop them for Bhendi Bazar residents


The Saifee Burhani Upliftment Trust had made the highest bid of around Rs 11.5 crore for the three properties.

The three properties include a two-storied building, Shabnam Guest House; six flats in Damarwala building; and a restaurant Rounaq Afroz.

The auction was held by the competent authority under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA). Another property in Dhamarwala was sold for Rs 3.53 crore and the third one - Shabnam Guest House - was auctioned at Rs 3.52 crore. "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 risky for occupation.

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Three properties located in Bhendi Bazaar have caught the interest of the Saifee Burhani Upliftment Trust (SBUT) that is redeveloping Bhendi Bazaar. It increased the caution money from Rs 15,000 to Rs 1 lakh for three properties and said if someone creates a ruckus, the amount will be forfeited.

The Raunaq hotel is said to be among the first properties purchased by Dawood after he took control of his smuggling business. Dawood's mother Aminabi used to stay at Damarwala building even after he and his brothers fled the country. He allegedly lived there with this family before leaving the country in 1986. Even now, security remains a major concern. The auction of these properties was planned in a phased manner.

Cops stand guard outside Indian Merchants' Chamber, where Dawood Ibrahim's properties went under the hammer this morning. Veteran journalist S Balakrishnan had a;sp bid for the hotel in 2015, but he failed to arrange the funds.