RBI to Auction Three Lonavala Bungalows at ₹6.55 Crore Base Price
RBI to Auction Three Lonavala Bungalows at ₹6.55 Crore Base Price(Representatives Image)
The Reserve Bank of India (RBI) has announced the sale of three of its bungalows in Lonavala, setting a base price of ₹6.55 crore. The properties, once used as staff holiday homes, are being auctioned as part of the central bank’s plan to monetise non-core assets.
Located near Lonavala Lake, the bungalows stand on a freehold plot of over 3,800 square metres. Each is a ground-plus-one structure and will be sold on an “as is, where is” basis, meaning buyers must take possession in their current condition without any upgrades from the RBI.
As per the tender notice issued on August 18, 2025, inspections will be allowed until September 8, while sealed bids must be submitted by September 9 along with an earnest money deposit of ₹10 lakh. The successful buyer will also be responsible for settling any pending dues or local taxes.
To oversee the transaction, the RBI has appointed property consultancy Cushman & Wakefield India, which will handle the sealed-bid auction process to ensure transparency.
Lonavala, around 100 km from Mumbai and 60 km from Pune, remains one of Maharashtra’s most popular second-home destinations. Property prices here have surged in recent years, with premium villas fetching upwards of ₹15,000 per sq ft. Spacious homes typically cost between ₹2 crore and ₹3 crore, while rental yields average 10–15% annually, attracting investors as well as holiday home buyers.
The hill station is also a preferred retreat for celebrities. Dharmendra owns a 100-acre farmhouse near Pawna Lake, while Salman Khan has a farmhouse in Panvel and Sunil Shetty in Khandala. Several other Bollywood families have invested in nearby weekend destinations such as Alibaug, Igatpuri, and Karjat.
