Mumbai: Multiple ancestral properties linked to fugitive underworld don Dawood Ibrahim have found a prospective buyer in a recent government-mandated auction held on March 5, with a Mumbai-based bidder emerging as the highest bidder for all four agricultural land parcels in Ratnagiri district.
The properties were auctioned by the Centre under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), marking a significant step in the long-pending disposal of assets linked to the Kaskar family.
A notice issued by the competent authority under SAFEMA had listed four agricultural land parcels located in Mumbake village in Khed taluka of Ratnagiri, the native place of Dawood. Several of these properties were originally registered in the name of his mother, Amina Bi, officials said.
Officials added that the Mumbai-based bidder, whose identity has not been formally disclosed, is required to complete the payment by early April 2026 in accordance with auction norms. The transaction will be subject to final confirmation by the competent authority, following which the forfeiture and disposal process for the Ratnagiri cluster is expected to be concluded.
The March 5 auction follows an earlier attempt in November 2025 that failed to attract any bidders despite a reduction of nearly 30% in reserve prices. One of the key parcels, survey no. 442 (Hissa No.13-B) with a reserve price of Rs9.41 lakhs was auctioned for over Rs10 lakh, the highest bid. Two bidders participated for this property, including the Mumbai-based bidder who went on to secure all four parcels, and another bidder from Ratnagiri.
The remaining three agricultural land parcels, including survey nos. 533, 453 (Hissa No. 13-B), and 617 (Hissa No. 13-B), with reserve prices ranging from Rs15,440 to over Rs8 lakh, saw only one bidder, who went on to win the bids. Officials said all four properties belonging to the underworld don were auctioned off by SAFEMA.
The official confirmed these properties have been put up for auction multiple times over the past decade, including notable attempts in 2017, 2020, 2024 and 2025, many of which either saw poor participation or failed to attract bidders.
Survey No. 442 and 453, being larger agricultural tracts, were part of earlier high-profile auction rounds but failed to sell at least two to three times due to lack of bidders. Survey 533, a smaller ancestral plot, also remained unsold in previous attempts due to limited interest. Survey 617, although small, saw erratic auction outcomes, including one instance of unusually high bidding, but has otherwise been part of repeated cycles.
The four parcels form part of the Kaskar family’s ancestral holdings attached in the 1990s and later forfeited to the Centre under SAFEMA as part of action against assets linked to organised criminal activities, including those associated with the 1993 Mumbai blasts.
“Despite clear titles backed by the government, factors such as stigma and location have historically affected buyer participation,” an official said.
The latest auction also comes against the backdrop of earlier high-profile bids for Dawood-linked properties, particularly by Delhi-based lawyer Ajay Srivastava, who participated in multiple SAFEMA auctions in two decades.
Srivastava first drew attention in 2001 after successfully bidding for two industrial units in Nagpada. However, he later became embroiled in a prolonged legal dispute with heirs of Haseena Parkar and is yet to secure physical possession, with the matter pending before the Bombay High Court.
He continued to participate in auctions, including the purchase of Ibrahim’s ancestral bungalow in Mumbake village in 2020, where he later set up a trust. In 2024, he drew attention after placing a bid worth Rs2.01 crore for a small agricultural plot (Survey 617) with a reserve price of just Rs15,440, though the bid was later cancelled due to non-payment, leading to a fresh auction this month.
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