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Home > Forum > Mumbai > Real estate News > Dawood Ibrahim's property in auction

Dawood Ibrahim's property in auction

Q: Former journalist to bid for Dawood Ibrahim's property in auction.

properties in mumbai
property of dawood ibrahim in auction
s balakrishnan
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Replies (3)
1
Yes, the properties are free from the legal issues and Balakrishnan visited Pakmodia Street for inspection of the property before the auction. It is a ground-plus-one floor structure. Though in the list of the authority the property has been listed as Hotel Raunak Afroz, during his personal inspection, he saw the board of Delhi Zaika hotel put up on the property.
Sandeep Mhatre


Well Sandeep,
If he wins the bid then what would be his plans regarding the property and what would be the expected bid price?
Dharmaja Patel,  Mumbai
4th December 2015


Good question,
If they managed to win the bid, through their registered NGO, Desh Seva Samiti, they would set up an education centre as there are lot of children from Bhendi Bazaar area who are into drugs.

The reserve price of the property which they would be bidding for is Rs1.18 crore and earnest money deposit is Rs30 lakh.
Sandeep Mhatre,  Mumbai
4th December 2015


2
Where is the property located and is there any specific reason of buying such properties? When and where is the auction going to be held?
Dharmaja Patel


Hi Dharmaja,
The property is situated in Pakmodia Street, Kumbharwada, Mumbai. Balakrishnan, who runs an NGO, wants to set up an education centre for poor children at the property. The auction for Dawood's property will be held on December 9 at Hotel Diplomat in Colaba.
Javed,  
4th December 2015


Thanks javed,
Don't you think that property buyers have to face some legal issue if they buy such properties? Is the property free from legal issues?
Dharmaja Patel,  Mumbai
4th December 2015


No, not at all. Seven listed properties of mobster Dawood Ibrahim are with the Competent Authority. The authority seizes the properties of accused in cases under Narcotics and Smugglers and Foreign Exchange Manipulators Act 1976. These properties are then put for auction.
Javed,  
4th December 2015


3
It is true and former journalist S Balakrishnan would be bidding for of one of the seven properties of underworld don and global terrorist Dawood Ibrahim Kaskar.
Javed


4

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