Legal Basis for the Auction

As per Section 8A of the Enemy Property Act, 1968 (amended in 2017), the Custodian of Enemy Property for India (CEPI) is authorized to dispose of such properties with prior approval from the Central Government. These properties were vested in the custodian before the 2017 amendment and are now being put up for sale.

E-Auction Details

• Notice Period: January 23, 2025 – February 12, 2025
• Auction Date: February 13, 2025
• Conducting Authority: MSTC India Ltd
• Auction Process: The properties will be auctioned online, with bidding terms and conditions available on the MSTC website.

Key Properties on Sale

The auction features properties across multiple states, including Maharashtra, Tamil Nadu, West Bengal, and Uttar Pradesh. Among the most notable listings are two prime Mumbai properties in Naples Co-operative Group Housing Society, Colaba, with starting prices of ₹7.3 crore and ₹10.9 crore.

Other significant properties include:

• Chennai, Tamil Nadu: Listings in Sembiam Village and VoC Nagar, valued between ₹2 crore and ₹9 crore.
• Kolkata, West Bengal: A property on Bondel Road, priced at ₹2.26 crore.
• Ayodhya, Uttar Pradesh: Several plots in Rudauli and surrounding areas, with values ranging from ₹9 lakh to ₹39 lakh.

A total of 40 properties will be auctioned, with values ranging from a few lakhs to over ₹10 crore.

Government’s Objective

The auction is part of the government’s initiative to monetize enemy properties and bring them into productive use. To ensure transparency, advertisements will be placed in local newspapers, and notices will be displayed at the auction sites.

How to Participate

Interested bidders can visit the official MSTC websites for detailed auction terms and registration:

• MSTC India
• MSTC E-Commerce

With high-value properties up for grabs, the auction presents a rare opportunity for investors and buyers looking to acquire premium real estate assets across India.

Also Read: affordable homes in mumbai

The post Mumbai’s Prime Properties Among 40 Enemy Assets to Be Auctioned on February 13, 2025 appeared first on Square Feat India.

By Varun Singh

A notice from the office of the Sheriff by the deputy sheriff was issued for the sale of 21 units in Mumbai’s Mega Mall.

The notice mentioned the National Agricultural Co-operative Marketing Federation of India Ltd as the claimant whereas the Swarup group of industries and others as respondents.

The notice read, “Pursuant to the order dated April 24, 2019, and order dated June 6, 2019, passed by Justice GS Patel of High Court, Bombay, order dated March 30, 2021, passed by a division bench comprising of Justice SJ Kathawalla and Justice Milind Jadhav of the High Court, Bombay, and pursuant to the order dated July 8, 2021, passed by Justice AK Menon of the High Court, Bombay offers are invited for purchasing all the 21 units situated at Mega Mall, Goregaon, Oshiwara Along with demand draft/pay order in the sum of Rs 2 crore Drawn in favour of Sheriff of Mumbai, payable at Mumbai so as to reach the Sheriff’s office on or before July 28, 2021, by 5 p.m.”

All the 21 units located will be sold in one lot on as is where is basis. The area of the 21 units in Mega Mall is 49,027 sq ft.

The 21 units are spread across the first, second, and third floors of the Mall.

The largest unit measures 4000 sq ft, while the smallest of the 21 units measures 675 sq ft.

According to the notice issued by the Sheriff’s office, The Supreme Court of India has fixed the reserve price of the 21 units at Rs 64 crore.

The notice further reads that the offers will be open before the Hon’ble Chamber judge of High Court Bombay in courtroom number 21 first floor on Friday, July 30, 2021, at 2:30 pm.

The offerers can remain present and increase their offers if they desire so.

The inspection of the property will be given to the intending offerers from July 20, 2021, to July 23, 2021, excluding government holidays between 1 pm to 4 pm.

The High Court Bombay reserves the right either to accept or reject any offer without assigning any reason, therefore.

A copy of the terms of the condition of the sale and undertaking to be executed by the offerer will be available in the Sheriff’s office situated at the City Civil Court building in Mumbai, on any working day during the office hours on payment of Rs 500.

Also Read: Agents to give their Court Case details to MahaRERA

The post Sheriff puts 21 units in Mega Mall on Sale for Rs 64 Cr appeared first on Square Feat India.