Left Menu
Development News Edition

IDBI to auction Kimaya Fashions owners' penthouse in Bandra


IDBI to auction Kimaya Fashions owners' penthouse in Bandra

State-run IDBI Bank is auctioning a 10-bedroom, 12,200 sqft penthouse in the posh Bandra area of the megapolis. The property, which belonged to Pradeep K Hirani, was taken over by the bank under the Securitisation and Reconstruction of Financial Assets and Enforcement (Sarfaesi) Act last October after he defaulted on a loan.

Hirani owes Rs 30.72 crore, including interest, to the bank, according to the bid document. The property will be e-auctioned on February 22, the bank said.

Hirani, along with his wife Neha, own Kimaya Fashions which has designer stores in the country apart from Dubai and Pakistan, according to the company website. The first store was opened in 2003 at Juhu. The lender, which is now owned by LIC, has set the reserve price of the property, which is spread over five levels, located on the Turner Road at Rs 33.23 crore.

The penthouse comes with its own private swimming pool, exclusive lifts, sea view terraces and a four car parking, among others. According to market sources, the valuation of the property is according to the prevailing rates in Bandra, which is a home to many Bollywood celebrities. It, however, will attract limited buyers..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

SDG13: How you can reduce global warming by changing your food habits

The mega narratives of various international organizations give the impression that fighting global warming is only a job of government agencies. However, the European Investment Bank EIB has designed a questionnaire which besides making th...

Videos

Latest News

Bodies of five of 8 tourists who died in Nepal reach Kerala

The mortal remains of five of the eight tourists from Kerala who died of possible asphyxiation in their room at a mountainous resort in Nepal were flown here late Thursday night. The bodies of Dubai-based engineer Praveen, his wife Sarnaya ...

UN court orders Myanmar to prevent Rohingya genocide

The Hague, Jan 23 AFP The UNs highest court ordered Myanmar on Thursday to do everything in its power to prevent the genocide of Rohingya Muslims, as the International Court of Justice stepped into the crisis for the first time. In a unanim...

REUTERS SPORTS SCHEDULE AT 7:30 p.m. GMT/2:30 p.m. ET

Rafa Nadal passed up a good few chances for an earlier finish to his night before muscling his way into the third round of the Australian Open with a commanding 6-3 7-64 6-1 victory over Argentine Federico Delbonis on Thursday. BASKETBALL-N...

Canada girds for new coronavirus, 17 years after deadly SARS epidemic

The arrival of a new, sometimes deadly strain of coronavirus to just outside Canadas borders has health officials determined not to repeat the countrys stumbling response to the SARS epidemic 17 years ago.SARS, or Severe Acute Respiratory S...

Give Feedback