5 Things About The Iconic Dunlop House

5 Things About The Iconic Dunlop House

5 Things About The Iconic Dunlop House

Mumbai's iconic Dunlop House is back on the market. According to a media report, banking major ICICI Bank has once again put Dunlop House for sale. This time the bank has made a significant reduction in asking price. So if you are one of those who is looking for luxury in a prime Mumbai locality, here is your chance to grab it.  

Here are five things that you should know about the property:

  • Located at Worli's Annie Besant Road, the landmark property was previously owned by the Chhabria family that owned the Kolkata-based tyre manufacturing Dunlop India. In 2005, Pawan Ruia-owned Ruia Group took control of the property, following a takeover of the tyre manufacturing company. 
  • However, the property was later acquired by ICICI Bank to recover dues after the Ruia Group defaulted on loans worth Rs 519 crore.
  • The bank is looking to sell the property after clearing all the liabilities and clearing the taxes that might have been deterring buyers from coming forward.
  • The current rate of properties in nearby localities range between Rs 45,000 per sq ft and Rs 50,000 per sq ft.
  • The four-storied building with a built-up area of 41,000 sq ft had been put on the block thrice in the past at asking prices of Rs 400 crore and Rs 300 crore. This time, the bank is expecting to earn Rs 240 crore from the sale.
Last Updated: Tue Jan 31 2017

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