Would you like to be Amitabh Bachchan’s neighbor? A bungalow is up for auction, know the price – India TV Hindi

Amitabh Bachchan- India TV Paisa

Photo: Reuters Amitabh Bachchan

Bollywood If you are a big fan of Emperor Amitabh Bachchan then you have a chance to become his neighbour. You can buy your own house near Amitabh Bachchan’s bungalow. A bungalow located in Big B’s Bungalow Jalsa neighborhood near Juhu Beach in Mumbai is being auctioned. Deutsche Bank has put the bungalow up for auction with a reserve price of Rs 25 crore. According to the public notice issued by the bank, the carpet area of ​​the bungalow is 1,164 square feet. There is also 2,175 square feet of open space. The auction is scheduled to take place on March 27.

The reserve price is Rs 25 crore.

The bungalow is being offered for auction by the bank under the Safeguarding and Reconstruction of Financial Assets and Security Interest Enforcement Act (SARFAESI) 2002. According to the public notice, the bank sent a demand notice to the borrowers and co-borrowers of Seven Star Satellite Pvt Ltd in April 2022. It was asked to pay the outstanding amount of Rs 12.89 crore within 60 days. The bank said in a public notice that since the borrower and co-borrowers failed to pay the dues, it has taken possession of the mortgaged property. The reserve price for the March 27 auction is Rs 25 crore and the EMD amount is Rs 2.50 crore.

Banks conduct auctions at discounted prices.

Banks usually sell assets through auctions at discounted prices and this allows potential buyers to get a good deal. Banks have many types of assets for auction. Banks take over these assets when customers default on their loans and do not repay the loan even after sending a notice. These assets are then auctioned. Banks typically sell these assets at a discount of 15 to 30 percent to market value. In this case, if we were to buy a bungalow of the same size in the vicinity of Juhu Beach, it would easily cost around Rs 35-40 crores.

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