Dawood Ibrahim's 3 properties auctioned for Rs 11 cr

Dawood Ibrahim's 3 properties auctioned for Rs 11 cr

For the second time in two years, three properties belonging to underworld don Dawood Ibrahim were up for auction today by the Ministry of Finance and all three properties were bought by the "Saifee Burhani Upliftment Trust".

The Hotel Raunaq Afroz was estimated at a bid of Rs 4.53 crore while the Guest House Shabnam went up for Rs 3.52 crore and the rooms in Damarwala building were bought for Rs 3.54 crore. The SAFEMA, in consultation with the district valuation officer of the Income-Tax department, had fixed the reserve price at Rs. 1.21 crore, Rs. 1.55 crore, and Rs. 1.18 crore for the Shabnam Guest House, the rooms in Damarwala Building and Hotel Raunaq Afroz, respectively. "SBUT bid the highest and won the auction by collectively bidding Rs 11.58 crore for all the three properties", the source added.

Sources said that SBUT, which is overseeing the ambitious Bhendi Bazaar makeover project, was keen on including Ibrahim's property into its development plan.

"These buildings are in a dilapidated condition and unfit for living. Therefore to ensure the safety of the families living in these buildings and to carry on with the redevelopment project, we participated in the bidding and acquired these properties". It was also made clear that the caution money would be forfeited if a bidder created trouble at the auction. That time Desh Seva Samiti, an NGO, won the bid but could not raise the entire amount, hence the property was put up for auction again. Shabnam Guesthouse, a double-storey structure on Yakub street, was occupied by Dawood's younger siblings Haseena and Iqbal. The corner of the property still has some old furniture that used to once adorn Dawood's Rounaq Afroz hotel.

Meanwhile, security was a concern for both the organisers and the bidders.


"SBUT had participated in the auction through all the three means, e-auction, public auction and tender in sealed envelope. However, it could not succeed back then".

The Rounaq Afroz restaurant had gone under hammer in 2015. But the auction couldn't take place.

After Dawood fled India, properties belonging to him and his associates were seized under the provisions of Smuggling and Foreign Exchange Manipulators (Forfeiture of Property) Act, also known as SAFEMA.

These properties could not be auctioned in 2015. The Mumbai police had deployed a Quick Response Team outside the auction venue.

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