The three Mumbai-based properties of underworld don Dawood Ibrahim has been auctioned for more than Rs 11 crore on Tuesday.
Saifee Burhani Upliftment Trust had bid the maximum amount for all the three properties.
"These buildings are in dilapidated condition and unfit for living. Therefore to ensure safety of the families living in these buildings and to carry on with redevelopment project, we participated in bidding and acquired these properties," said Saifee Burhani Upliftment Trust Spokesperson.
The auction was carried out by Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) (SAFEMA). As per reports, 10-12 persons were turned up for the auction.
Hindu Maha Sabha and a counsel of the Supreme Court also bid for the properties.
The auctioned properties include Damarwala building near Bhendi Bazar where Dawood's younger brother, Iqbal Kaskar, resided till recently.
The others are Shabnam Guest House on Mohammed Ali Road and Hotel Raunak Afroz on Pakmodia street.
The base price for Damarwala building, hotel Raunak Afroz and Shabnam Guest House was set at Rs 1,55,76,000, Rs 1,18,63,000 and Rs 1,21,43,000.