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

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 auction will be held in Churchgate on Tuesday.

The three properties include a two-storied building, Shabnam Guest House; six flats in Damarwala building; and a restaurant Rounaq Afroz. The reserve price for the three properties are Rs 1.21 crore, Rs 1.55 crore and Rs 1.18 crore respectively. The earnest money for the properties are Rs 48.58 lakh, Rs 62.40 and Rs 23.72 lakh.

"All the three properties fall within the ambit of Bhendi Bazaar redevelopment that is being carried out by us. 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 dangerous for occupation. "We want the new owners to be serious buyers who will see to it that the tenants are rehabilitated and the buildings are redeveloped," said the officer.

SERIOUS BIDS ONLY

To ensure that only serious buyers participate in the auction, the competent authority has invoked a clause that allows it to prosecute anyone who stalls the auction.

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