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3 properties of Dawood auctioned in Mumbai

The Saifee Burhani Upliftment Trust (SBUT) has bought all these properties for its redevelopment project.
PTI
Mumbai | Posted : Nov 15 2017 2:03AM | Updated: Nov 15 2017 12:28AM
3 properties of Dawood auctioned in Mumbai
File Photo

Three south Mumbai properties belonging to fugitive gangster Dawood Ibrahim, which are in a dilapidated condition, were auctioned for Rs 11.58 crore today, according to an official involved in the exercise.

The Saifee Burhani Upliftment Trust (SBUT) has bought all these properties 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.

SBUT, a trust run by the Bohra community, which has been entrusted with the job of redeveloping a cluster of buildings in the Bhendi Bazar area, bid the highest at Rs 11.58 crore for the three properties in sealed tenders.

After Dawood Ibrahim fled India, properties belonging to him and his associates were seized under the provisions of SAFEMA.