Indian don Dawood Ibrahim's ancestral property auctioned, purchased by a lawyer

One of wanted gangster Dawood Ibrahim's properties in Maharashtra was sold for Rs 2 crore (USD 240,580) in an auction on January 5. The base price of the gangster's land parcel was pegged at just Rs 15,000 (USD 185.7).

Dawood Ibrahim's Maharashtra properties, where the absconding mafia don and global terrorist reportedly spent his childhood, were up for auctionas per an order from central government in India. Two of the land parcels on auction received no bids.

Lawyer Ajay Srivastava, a former Shiv Sena leader, purchased the land plot that fetched the amount of Rs 2 crore (USD 240,580). He claimed that he bought the plot of the dreaded gangster because survey number of the plot and the amount added up to a number which favours him according to numerology. He told the media that he wants to start aSanatana Pathshala (religious school) on the plots.

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At least four plots of land, that are said to be 'benami' farm lands, wereup for sale in Ibrahim's native place: Mumbake village in Maharashtra's Ratnagiri district.

The auction, as per a Ministry of Finance notice from November, wascarried out by the competent authority and administrator of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), under the Union Ministry of Finance.

Dawood, an Indian mob boss, was designated a global terrorist by Indiaand the United States in 2003.

How much are the properties worth?

The four properties carrieda reserve price — the minimum price an auctioneer will accept — of 19.2 lakh INR (around 23,093 dollars) and are being sold on "as is where is" and "as is what is" basis. This as per mondaq.com means "a successful bidder of the secure asset will inherit all the physical and legal conditions of the secured asset,and a secured creditor shall not be responsible for any charge, lien, and encumbrance, etc. for auctioned secured asset."

The auction happened in three modes: e-auction, public auction and tender in a sealed envelope.

Here are the specifics of the base prices:

— Property number one, spanning 10,420.5 sq m: ₹9.4 lakh ($11,306);
— Property number two, spanning 8,953 sq m: ₹8 lakh ($9,622);
— Property number three, spanning 171 sq m: ₹15,440 ($185.7);
— Property number one, spanning 1,730 sq m: 1.5 lakh ($1,804).

The four properties were confiscated by authorities years ago. As per TOI, in the last nine years, 11 properties belonging to Dawood and his family have been auctioned by SAFEMQA.

(With inputs from agencies)