Three south Mumbai properties belonging to fugitive gangster Dawood Ibrahim, which are in a dilapidated condition, were auctioned for ₹11.58 crore on Tuesday, according to an official involved in the exercise.
The Saifee Burhani Upliftment Trust (SBUT) had bought them for its redevelopment project.
The properties — Hotel Raunaq Afroz, also known as Delhi Zaika, Shabnam Guest House and six rooms in Damarwala building — were put on the block by the Ministry of Finance, under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, also known as SAFEMA.
The SBUT’s highest bid for Raunaq Afroz hotel was ₹4.53 crore, for Shabnam Guest House ₹3.52 crore and the six rooms in the Damarwala building ₹3.53 crore.
These properties were seized under the SAFEMA almost 15 years ago.
According to sources close to the development, about 12 bidders took part in the process which started at 10 a.m. and concluded at 12 noon.
