If you even dreamt of living next to legendary actor Amitabh Bachchan, then this is no longer a pipe dream. However, there is a hefty price involved with it. Big B's popular residence in Mumbai, Jalsa, is located in the plush area of Juhu. Now, a bungalow near his Jalsa residence will be auctioned by Deutsche Bank, which has put the property under auction with a reserve price of Rs 25 crore.
More deets about the bungalow under auction
The property under auction has a total area of over 3,000 square feet, including 1,164 square feet of carpet area and 2,175 square feet of open space, Money Control reported quoting public notice issued by Deutsche Bank.
The bank is auctioning the bungalow under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) of 2002.
The report also states that the bank had sent a demand notice in April 2022, calling upon the borrowers and co-borrowers Seven Star Satellite Pvt Ltd along with others to repay the outstanding amount.
However, the borrowers and co-borrowers failed to repay the outstanding amount of Rs 12.89 crore within 60 days and the bank has undertaken possession of property mortgaged with it.
Now, the reserve price of the bungalow under auction is Rs 25 crore and the EMD (Earnest Money Deposit) amount is Rs 2.5 crore. The date of the auction is March 27, 2024.
For the unversed, if you participate in an auction, one must not blindly trust the bank's word. If anyone claims to own your new property, the bank might not help you in such case.
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