The Bombay Parsi Punchayet has issued a tender notice for the sale of its property, ‘Dady House’, situated in South Mumbai’s Fort locality, with a reserve price of Rs 2.51 crore. The trust has invited sealed bids for the asset, marking another transaction in the city’s evolving market for older, tenanted buildings.
As per the public announcement, the property will be sold on an “as is where is” basis, subject to approval from the Charity Commissioner, Maharashtra. The asset includes a freehold plot along with an existing structure located at the intersection of Bora Bazar Street and Jeejebhai Dadabhai Street.
The plot spans approximately 128.76 square metres and currently accommodates 16 tenants, occupants, and licensees governed by the Maharashtra Rent Control Act, 1999. Classified under the cess “A” category—typically associated with older structures—the building has already utilised a floor space index (FSI) exceeding 4.50. This could pose limitations for future redevelopment due to regulatory requirements such as setbacks.
Interested parties can collect tender documents from the BPP office on Dr D N Road in Fort. Bids must be submitted in sealed envelopes by May 19, accompanied by an earnest money deposit (EMD) of Rs 10 lakh. Offers below the reserve price will not be entertained.
The tender process includes the opening of bids on the same day at 6:30 pm, in the presence of participants, who will also be allowed to revise their offers. The trust has stated that its decision will be final and will be communicated within a week. Refunds of EMD for unsuccessful bidders will be processed within 30 days, in line with the tender terms.
Prospective buyers may inspect the property between April 22 and May 5, 2026, by prior appointment. The sale reflects ongoing activity in South Mumbai’s ageing real estate segment, where such properties continue to draw investor attention despite inherent complexities.
Source: The Free Press Journal
