The Reserve Bank of India (RBI) has issued a notice for the sale of its former holiday home, which includes three residential bungalows and non-agricultural plots, located near Lonavala Dam. The property is being sold through a sealed offer bidding process on an “as is where is,” “as is what is,” and “whatever there is” basis. The reserve price for the property has been set at ₹6,55,00,000.
Bidding and Property Details
The property, which bears Survey No. 34, consists of N.A. plots along with three G+1 storied residential bungalows. The total area of the land is 3,832.36 square meters. Bids must be submitted in separate sealed envelopes , with the last date for receipt being September 9, 2025, by 3:00 PM IST. The bids will be opened on the same day at 4:00 PM IST. Prospective bidders can inspect the property up to September 8, 2025.
Key Requirements for Bidders
A mandatory Earnest Money Deposit (EMD) of ₹10,00,000 is required to be submitted with the bid. The EMD must be paid via Demand Draft or RTGS in favor of “Reserve Bank of India, Fort Mumbai”. Bidders are also required to provide a photo identity proof. All relevant communication will be conveyed via email/SMS.
Terms of Sale
The successful bidder will be required to pay 25% of the winning bid value within 10 days of the sale confirmation. The remaining 75% must be paid within 90 days thereafter. The RBI reserves the right to reject any or all bids without assigning any reason. All expenses related to the transfer, including stamp duty, registration charges, society dues, and municipal taxes, will be the responsibility of the purchaser.
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