Mumbai: Bids for 100-year-old bungalow's sale at Bandstand postponed

A bungalow which is more than 100-year-old and located at the prime location of Bandra Bandstand, of which the bids were to be opened on Thursday now has been postponed to August 29. The reason according to market sources is that the previous week had too many national holidays and many interested bidders have sought further time. The bungalow is spread over 4,248 sq meters (over an acre) and could fetch anywhere close to Rs 300 crore with a development potential of close to 1 lakh sq ft. The bungalow is named Shirinbai Cama Convalescent Home for Parsi Women and Children and is owned by the TrustBandra Parsi Convalescent Home Trust. The road on which the bungalow is has celebrities houses of the likes of Shah Rukh Khan, and Salman Khan.

The first notice regarding the sale of the bungalow came out in the month of July, post which according to realty sources close to the deal, around a dozen bidders, including industrialists, top corporate, and even film stars have shown interest in it. A source close to the deal said, "The interest for this property is very good, because of its location, it is sea-facing, hardly 100 meters from the Taj Lands End and is on a prime location. Many people who showed interest have sought further time and hence the extension has been given."

The bungalow is expected to be acquired for personal use, any premium property in the vicinity will cost nowhere less than Rs 1 lakh per sq ft.

The bungalow according to one of the source has been standing at Bandstand since 1905 and housed people till 2000.