The SBUT's highest bid for Raunaq Afroz hotel was Rs. 4.53 crore, for Shabnam Guest House Rs. 3.52 crore and the six rooms in the Damarwala building Rs. 3.53 crore.
According to the Newspaper, Flat numbers 18-20, 25,26 and 28 of the Damarwala Building, and houses 34-40 on Pakmodia Street and Yakub Street, where Iqbal Kaskar and his late sister Haseena Parkar used to reside was auctioned for Rs3.52 crore and the Hotel Raunaq Afroz on Pakmodia Street went for Rs4.52 crore. "Therefore, to ensure the safety of families living in these buildings and to carry on with the redevelopment project, we participated in the bidding and acquired these properties". I will wipe out their (D-gang) fear from our hearts. This was the second auction of the properties organised by the Ministry of Finance - under which SAFEMA functions - in the past two years, vide public advertisements issued in mid-October. "While the auction had failed it did not deter us and we chose to put three of his properties under the hammer", said a senior official from the department of revenue, who spoke on the condition of anonymity. "There was active participation in every property". The auction of the properties has never been an easy task for the government.
The bidders for the auction also included the Hindu Mahasabha.
Though the exact auction prices are yet to be disclosed, reports suggest the Rounaq Afroz restaurant was auctioned for Rs 4.53 crore. But they were disqualified by SAFEMA authorities as it failed to deposit the earnest money in time. The Appellate Tribunal for Forfeited Property, however, had dismissed the appeals under SAFEMA.
In the coming days, other properties - including an industrial plot in Aurangabad, a flat in Mazgaon and tenancy rights in Dadriwala Chawl - will be put up for auction. The earnest money for the properties were Rs 48.58 lakh, Rs 62.40 and Rs 23.72 lakh respectively. The rest of the amount will have to be paid within the next 60 days, and not a single day's extension will be granted.