MUMBAI: The ministry of finance has invited bids for Masulla Building aka Amina Mansion at Pakmodia Street, Bhendi Bazaar in the South Mumbai. The property belongs to underworld don Dawood Ibrahim and hence it would go under hammer under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), a public notice issues by the ministry has said.
The auction will be held on August 9 and the reserve price is Rs 79.43 lakh. According to the notice, bids have been invited for the sale of total nine properties located in Mumbai, Aurangabad, Valsad, Daman, Surat and Ahmedabad.
However, owners of the other eight properties are not known. The Earnest Money Deposit (EMD) is of Rs 25 lakh, which needs to be deposited by August 6.Last year, the Saifee Burhani Upliftment Trust (SBUT) won the bids with highest price of Rs 11.50 crore for Dawood's three properties that went under the hammer by SAFEMA.
This time, SAFEMA expects to pocket Rs 2-3 crore from Dawood's Massula Building and this time too, SBUT is likely to be the front runner in the list of potential bidders.