A bungalow next to Hotel Taj at Bandstand is worth Rs200 Crore

In Bandra, a prime sea-facing bungalow could fetch more than Rs 200 Crore. The 4248.40 sq m property which was built in 1903 is located next to Taj Hotel Land’s End and Shah Rukh Khan’s Mannat at Bandstand and it is owned by the Bandra Parsi Convalescent Home Trust.

 

The trust, as it was lying unused for years, decided to sell off and monetize the property due to the high annual property takes which rose Rs 16 Lakh over the years. A global property consultant CBRE was engaged for the sale of said bungalow.

The final day was Thursday for placing the bids which were invited in sealed envelopes and interested buyers were asked to make a refundable deposit of Rs 1 Crore to be eligible for the bid.

 

Industry sources said that the four city developers were among those who placed the bids. Officials at the CBRE as well as the trust were tightlipped on the details.

The bungalow dates back to the year 1903, when a Parsi social worker Shirinbai Mancherji Cama started the Bandra Parsi Convalescent Home to help poor and needy women. The home was shut 15 years ago, but the trust was maintaining the property till date.  

by Lokendra Sharma | Sat, Aug 31 - 11:10 AM

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