The restaurant Delhi Zaika in Pakmodia Street, belonging to Dawood and attached by the government of India, is up for sale and will be auctioned on December 9.
If you have Rs 1.18 crore to spare and want to buy property which was once owned by India's most wanted criminal Dawood Ibrahim, then here's your chance.
The government had attached Hotel Rounaq Afroz in Pakmodia Street belonging to the fugitive after the 1993 serial Mumbai blasts.
The hotel later became Delhi Zaika and is in a dilapidated condition now, and up for sale.
The auction for the 45 square metre hotel is going to be held on December 9, between 11:30 am and 4:00 pm.
On December 3, the auctioneer will take interested parties for a site inspection and the last day for participating in the auction is December 8. The auction will be carried out by a private firm called Ashvin & Co Auctioneers, under the instructions of the Competent Authority & Administrator, the Smugglers & Foreign Exchange Manipulators (Forfeiture of Properties) Act 1976 [SAFEM (FOP) A] and the Narcotic Drugs and Psychotropic Substances Act (NDPS).
The terms and conditions state that the bidder will have to pay Rs 30 lakh as the earnest money deposit (EMD), which is 25 per cent of the reserve price of Rs 1.18 crore.
The successful (highest) bidder amongst all the three methods - Sealed Tender, Public Auction and e-Auction - will have to pay the balance of the bid amount by a demand draft payable at Mumbai and drawn in favour of "The Competent Authority, SAFEM (FOP) A, Mumbai," within 30 days from the date of auction.
A sum of Rs 15,000 on account of caution money deposit (refundable) in addition to the EMD is required to be deposited by a participant of the Public Auction.
In case of a tie, the terms and conditions claim that in the rare event of the bids from all the three methods of disposal, namely, Sealed Tender, Public Auction and e-Auction, being identical and by different bidders, the successful bidder will be decided by drawing lots in the presence of bidders. This will happen either on the date of Public Auction by 5 pm or at any date and time thereafter, which will be communicated to the concerned bidders.
The tender notice states that all expenses of conveyance, legal charges, stamp duty and registration fees, as applicable, will have to be borne by the purchaser.
M Rajamani, Superinten-dent (Admin) of the Authority said, "We are auctioning the Rounaq Afroz property for the first time. The reserve price of the property has been decided by the Income-tax department, which is the official valuer of the property."
When asked if people will come forward to buy the property since it once belonged to Dawood, Rajamani said, "I cannot comment on that part, we are carrying out the auction and people can bid for it."
Ashvin Jain, the auctioneer, said, "We will take anyone interested in the property to the site and let him or her inspect it. My job is to carry out the auction and nothing else."