Another Dawood property to go under the hammer at a reserve price of Rs 79.43 lakh

Mumbai, July 18: A property belonging to Dawood Ibrahim will be up for auction on August 9. The reserve price for the property situated on Pakmodia Street is Rs 79.43 lakh.

The property is being auctioned by the Union Finance Ministry under the provisions of the Smugglers and Foreign Exchange Manipulators Act (SAFEMA). In all bids for nine properties including the one belonging to Dawood were invited. The property in question is known as Masulla building or Amina Mansion.

The notice read that the Masulla Building (CS No 4275) at 24/26 Pakmodia Street and 28.29 Bapty Road, Bhendi Bazaar is up for auction. The owners of the rest of the properties which were part of the public notice is unknown.

The Earnest Money Deposit is of Rs 25 lakh and would need to be deposited by August 6. The modes of bidding include, e-auction, public auction and also sealed tenders.