Three bungalows near Lonavala, a well-known hill station close to Mumbai, are up for sale, and the RBI has opened bids. The properties have a combined reserve price of ₹6.65 crore, and prospective purchasers must deposit ₹10 lakh as earnest money.
Originally used as vacation rentals for RBI employees, these bungalows are located on more than 3,800 square meters of freehold land. Every bungalow is a ground-plus-one building. The properties are available for inspection by potential purchasers until September 8, 2025, and the deadline for submitting a bid is September 9, 2025.
The sale will be conducted on an “as is, where is” basis, and buyers will be responsible for clearing any pending taxes. Cushman & Wakefield India has been appointed as the property consultant to manage the sealed-bid process.
Lonavala continues to be a preferred destination for second homes, attracting investors from Mumbai, Pune, Gujarat, and NRIs. With prices as high as ₹15,000 per square foot, the area is renowned for its opulent villas and bungalows. Celebrities also favor the area's upscale real estate, underscoring its allure as a posh getaway.