India Saifee trust buys Dawood Ibrahim’s Masulla building in Mumbai for Rs 3.51cr

05:55  10 august  2018
05:55  10 august  2018 Source:   hindustantimes.com

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Masulla building on Pakmodia Street, which is owned by underworld don Dawood Ibrahim , was bought by the Saifee Burhani Upliftment Trust for Rs 3 . 51 crore at a public auction. mumbai Updated: Aug 10, 2018 06:18 IST.

Mumbai : 3 Dawood Ibrahim properties sold to Saifee Burhani Upliftment Trust for Rs 9.50 crore - Продолжительность: 2:00 News Nation 10 395 просмотров.

Masulla building on Pakmodia Street, which is owned by underworld don Dawood Ibrahim, was bought by the Saifee Burhani Upliftment Trust (SBUT) for Rs 3.51 crore at a public auction on Thursday, which saw two bidders participate. The other bidder was Delhi-based lawyer Bhupendra Bharadwaj. This is the fourth property of Ibhrahim’s that SBUT has acquired.

Dawood Ibrahim wearing a suit and tie © Provided by Hindustan Times

“Masulla building has been declared unfit for living and poses serious risk to the lives of tenants and pedestrians. Therefore, we participated in the auction and acquired the building to redevelop it as a part of our ongoing Bhendi Bazaar redevelopment project,” said a spokesperson of SBUT who requested anonymity. 

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Dawood Ibrahim 3 Properties Sold To Saifee Burhani Trust in Mumbai auction - Duration: 9:07. Don Dawood Ibrahim ' s 3 Mumbai Properties Auctioned Off For Rs 11.5 Cr - Duration: 13:13.

Three properties belonging to fugitive underworld don Dawood Ibrahim were sold to the Saifee Burhani Upliftment Trust (SBUT) for over Rs 11 crore at an auction in Mumbai ___ About Channel: आज तक भारत का सर्वश्रेष्ठ हिंदी न्‍यूज चैनल है ।

The auction of Masulla building, also known as Amina mansion, was conducted by the ministry of finance under the Smuggling and Foreign Exchange Manipulators (Forfeiture of Property) Act, known as SAFEMA. There was a public auction, e-tenders and sealed tenders for Masulla building.

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The reserve price for the property was kept at Rs 79.43 lakh and all bidders were to submit an earnest money deposit (EMD) of Rs 25 lakh to participate. Bharadwaj was the highest bidder (Rs 1.91 crore) in the public auction, but SBUT clinched the deal in sealed tenders. 

“It was my bad luck just like last time,” said Bharadwaj. SBUT now owns four plots that were originally Ibrahim’s: Shabnam Guest House, Damarwala building, Hotel Raunaq Afroz and Masulla building.

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Three properties belonging to underworld don Dawood Ibrahim were sold to the Saifee Burhani Upliftment Trust (SBUT) for Rs 9.50 crore at an auction in

The Massula building on Pakmodia Street in South Mumbai , where Dawood ’ s late mother Aminabai stayed till she breathed her last, was sold for Rs 3 . 51 crore. One more Mumbai property belonging to fugitive Dawood Ibrahim was auctioned on Thursday. It was purchased by the Saifee Burhani

All of them fall within the ambit of the 16.50 acre cluster that SBUT is redeveloping as part of its redevelopment of Bhendi Bazar, which will rehabilitate 3,200 residents and 1,250 commercial establishments.

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(Video provided by NDTV)

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