Three properties of Dawood Ibrahim up for auction in Mumbai today

Three properties of underworld don and main accused in the 1993 serial bomb blasts Dawood Ibrahim will be auctioned on Tuesday by the Ministry of Finance, under the Smugglers and Foreign Exchange Manipulators (SAFEMA) Forfeiture of Properties Act.

The auction will be held in three forms — e-auction, public auction, and tenders, the highest bidder amongst all the three will be awarded the property. 

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. 

Three properties located in Bhendi Bazaar have caught the interest of the Saifee Burhani Upliftment Trust (SBUT) that is redeveloping Bhendi Bazaar.

“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,” a source from SBUT told DNA. 

Last year, unable to gather money to buy underworld Ibrahim's property Hotel Raunak Afroz, former journalist S Balakrishnan's 'earnest money deposit' of Rs 30 lakh was forfeited.

In December 2015, Balakrishnan, through his NGO Desh Seva Samiti, had participated in an auction of properties belonging to underworld don Dawood Ibrahim.