Want to become Amitabh Bachchan's neighbor? Bungalow up for sale
What's the story
Ever thought of being a neighbor of megastar Amitabh Bachchan?
Well, you can turn it into reality now. Technically, anyway!
A luxurious 3,000-square-foot property near Bachchan's home Jalsa in Mumbai's upscale Juhu neighborhood, is slated for auction on March 27.
Deutsche Bank has set the opening bid at a whopping Rs. 25 crore.
This auction is being conducted under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) of 2002.
Risk
Bank auction details and risks
Deutsche Bank gained control of the property after borrowers Seven Star Satellite Pvt Ltd and others were unable to repay their outstanding debt of Rs. 12.89 crore.
The bank is asking for an Earnest Money Deposit (EMD) of Rs. 2.5 crore from potential buyers.
However, it's essential to be cautious, as banks typically don't assume responsibility for any hidden legal issues or future claims by other parties.
Precaution
Precautions for potential buyers
Before participating in the auction, experts recommend thoroughly examining all available information.
While banks do provide early notices about online auctions and property details, it's unwise to rely solely on their word.
Any future problems with the property will fall on the buyer's shoulders, so conducting due diligence is crucial to avoid legal battles or ownership disputes down the line.
Meanwhile, on the work front, Big B will next be seen in Nag Ashwin's Kalki 2898 AD.