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The Reserve Bank of India is selling three Lonavala bungalows near Lonavala Lake for Rs 6.55 crore, with bids open until September 9, 2025, managed by Cushman and Wakefield India.
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The Reserve Bank of India (RBI) has put three bungalows in Lonavala up for sale, inviting bids at a base price of Rs 6.55 crore. Situated close to the scenic Lonavala Lake, the ground-plus-one structures were earlier used by the RBI as holiday homes for its staff.
According to the tender document, the properties will be sold on an ‘as is, where is’ basis. The three bungalows are on a freehold land on a plot measuring over 3,800 sq meters.
As per the tender notice issued on August 18, 2025, the bungalows can be inspected until September 8, 2025, while the deadline for submitting bids is September 9, 2025.
The RBI has kept the reserve price for the three bungalows at Rs 6.55 crore and an earnest money deposit (EMD) for submission along with the bids at Rs 10 lakh, the Hindustan Times reported.
The tender notice noted that the prospective buyers will be responsible for clearing all pending taxes with the local authorities.
According to sources, the RBI wants to sell the bungalow to liquidate its assets.
In the tender notice, the RBI stated that it has appointed property consultant Cushman and Wakefield India to conduct and manage the sale process through sealed offer bidding.
Lonavala, a hill station located 100 km from Mumbai and 60 km from Pune, is one of the most frequented hill stations during the weekends, especially during the monsoon and winter.
Lonavala is largely known as a second-home destination, attracting buyers interested in villas, farmhouses, and bungalows. Most second-home investors in the area come from Mumbai, Pune, and Gujarat, while many Non-Resident Indians (NRIs) have also purchased properties there.
Local brokers say villa prices in Lonavala can exceed Rs 15,000 per sq ft, with 3–4 BHK villas and serviced apartments typically priced upwards of Rs 2–3 crore. The gross rental yield in the area is estimated at around 10%–15%.
- Location :
Lonavala (Lonavla), India, India
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