South Mumbai bungalow sold for record Rs 350 crore

MUMBAI: A suburban developer has paid a record price of Rs 350 crore for a Nepean Sea bungalow property. Runwal Group, which has projects largely in the eastern suburbs, bought Nepean Grange , the two-storey bungalow constructed in 1918, from the Kapadia family. The transaction was finally concluded a few days ago after months of negotiations, TOI has learnt. Property sources said this could probably be the highest price paid for a bungalow in the city. The 2,048 sq m land also has an outhouse, servants' quarters and a car park.

The half-acre property, which falls under the coastal regulation zone II, was on the block for two years and the developer had to deal with nine joint owners of the Kapadia family. The owners settled the deal for Rs 270 crore. However, the bungalow also housed a tenant, the Lilani family, who demanded Rs 80 crore from Runwals to vacate the property.

The new owners of Nepean Grange will compensate the tenant who currently occupies about 4,800 sq ft of the 28,000 sq ft bungalow. The bungalow is located close to the Kilachand House, which too is on the block.

The Runwals will demolish Nepean Grange and build a high-end residential tower on the land. The Piramals, ABG Shipyard and Orbit Group were some of the other contenders for this property.

Last year, an old bungalow property called Villa Nirmala in the residential enclave of Carmichael Road in south Mumbai was bought for around Rs 300 crore by Peninsula Landpart of the Ashok Piramal Group and developer Khemchand Kothari. The transaction involved a payment of Rs 240 crore, plus 15,000 sq ft of space for the occupants of the bungalow once it was redeveloped . The structure, which occupies about half an acre and has a garden at the back, will make way for a high-rise .

Bungalows with heritage value have been falling to developers like nine pins over the past decade. Some of the most beautiful ones are located on Nepean Sea Road and Altamount /Carmichael Roads in south Mumbai.

In 2004, the Cama family of Mumbai Samachar sold its sprawling bungalow, Cosy Corner, behind Elizabeth Nursing Home (off Nepean Sea Road) for Rs 108 crore to the Satellite Group. The two-storeyed Cama bungalow, constructed in the 1920s, had close to a dozen rooms and a porch that overlooks lush, spacious gardens. Heritage buffs and city historians were dismayed when the developer demolished it and build a luxury residential tower.

Similarly, dozens of old, colonial-style bungalows were razed to make way for towers. Properties on Nepean Sea Road that were more than a century old have been demolished after they were bought over by private developers.
Nepean House, which was once located behind Nepean Terrace, went under the hammer years ago and the FSI from this plot was used to build the Ashiana apartment block. Kshitij, a skyscraper on Napean Sea Road, came up a few decades ago on a bungalow property owned by Cowasjee Jehangir. Similarly , the Maharaja of Baroda's palace gave way to the residential building Jal Darshan.

In the 1930s and 1940s, Carmichael Road saw a plethora of stately homes dotting its lush hill slopes. Old-timers recalled that many of these houses were built for about Rs 1 lakh to Rs 1.5 lakh. Among the oldest is the sprawling municipal commissioner's bungalow, which came up in the 1920s, and the official residence of the Port Trust chairman , built in 1918.

The plot on which Mumbai's first skyscraper, Usha Kiran, came up, once housed a princely-looking bungalow belonging to a Marwari family, called the Khandelwals. Among the other properties that were rebuilt, modified or expanded in the past were the Dahanukar bungalow, the Birla family house and Ghia Mansion.

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Govt takes control of Singur Nano factory

SINGUR/KOLKATA: The Mamata Banerjee government seems to be inching towards return of land from the disputed site in Singur, even as it fights a legal battle in Calcutta high court.

The Tata Nano factory was virtually taken over by the Hooghly administration on Thursday. Inventory of the articles inside the abandoned site was also conducted. Industries minister Partha Chatterjee said: "The process (of returning land) is under way. Let us wait and see what happens."

The minister was replying to queries by reporters at Writers' Buildings whether the ongoing legal tussle had stalled movement from the government's end. Chatterjee smiled and said, "Wait a while. You will get to know more in the assembly tomorrow. I can't say any more as the matter is sub judice."

The minister's sentiment was echoed in the administration's promptness in getting on with the formalities, after the gazette notification of the Singur Land Rehabilitation and Development Act, 2011. The law department is framing rules, even as Tata Motors has challenged the Act in high court.

After taking possession of the Singur factory complex late on Tuesday, the district administration got its act together, initiating inventory work on Thursday. Since morning, no local was in the vicinity as policemen (some 591 of them) took control. The rejoicing villagers and the mobs that stole iron rods and other materials from the compound on Wednesday had disappeared. About 40 staff members of the Singur BDO office, district land acquisition offices (DLO) in Singur and Chinsurah walked in after the police vacated six rooms inside the factory complex. These were used as welding, paint and engine shops when the factory was operational. The officials will be living inside the factory from now on -as will the policemen.

Hooghly SP, Tanmoy Roy Chowdhury, said, "We have posted nearly 600 policemen inside the factory."

The chassis of Nano cars and machinery parts lay strewn around the factory. Hooghly district magistrate Sripriya Rangarajan supervised the listing work and stayed on till the cataloging was complete.

Clearly the administration wasn't taking chances, especially as Tata Motor' advocate Samaraditya Pal alleged pilferage and loot at the project site, presenting video footage from news channels. In view of this, Justice Soumitra Pal has asked the DM, Hooghly, to submit a ground report by 11am on Friday.

Police on Thursday arrested one person from Bablaband area as he was carrying away bricks from the factory site. Police and officers from the district administration spoke to villagers asking them to maintain law and order.

Basudeb Das of Purba Para in Beraberi village, said, "We are sure we'll get our land back." But Udayan Das, a land-loser and member of the Singur Silpa Sthapan O Unnayan Committee, that has joined the Tatas in the court battle, said, "If the Tatas don't return, we shall demand our land back." He was one of those who had "willingly" parted with his land, for the sake of the Tata project.

PCC president Pradip Bhattacharya supported the government in its bid to return land to Singur farmers. "The government has kept its word," he said after meeting chief minister Mamata Banerjee on Thursday.

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98 kg gold, Rs.12 crore cash found in Sathya Sai Baba's chamber

Hyderabad, June 17 (IANS) Around Rs.12 crore in cash and nearly 100 kg of gold were found from Yajur Mandir, the personal chamber of late spiritual guru Sathya Sai Baba, at Prashanti Nilayam in Puttaparthi of Anantapur district, a trust official said.

A day after the Sathya Sai Central Trust opened the locks of Yajur Mandir, trust member and Baba's nephew R.J. Ratnakar Friday evening announced details of the cash and valuables found inside.

He told reporters at Puttaparthi that they found Rs.11.56 crore, 98 kg gold and 307 kg silver. Ratnakar said the cash would be deposited with State Bank of India (SBI).

Some bank officials and about 15 disciples of Baba, in the presence of trust members, have since Thursday counted the cash and valued the gold jewellery.

Ratnakar, however, denied that they found any will of Baba. He also evaded queries if the trust found any documents about Baba's personal caregiver Satyajit. There are speculations that the spiritual guru wanted Satyajit to be a member of the powerful trust.

Yajur Mandir, also known as Yajurveda Mandir, had remained closed ever since Sathya Sai Baba was hospitalised March 28 with multi-organ dysfunction. He died April 24.

The trust, which manages the huge spiritual empire led by Baba, owns assets in Puttaparthi, Bangalore, Hyderabad and other cities.

Ulfa ready to announce ceasefire

GUWAHATI: The Arabinda Rajkhowa-led pro-talks faction of Ulfa is set to declare ceasefire formally to pave the way for peace talks with the Centre.

"Our general council has decided to declare ceasefire either by the end of this month or the first week of July,'' Ulfa deputy commander-in-chief Raju Baruah, who's with the Rajkhowa faction, said on Sunday.

A senior police official involved in the peace process with Ulfa confirmed the announcement. ``The ceasefire declaration by Ulfa is expected soon after some formalities are completed. This will be followed by signing of the suspension of operation between the government and Ulfa. This may happen either in the third or fourth week of July. The ceasefire ground rules will be finalized at the same time,'' he said.

The official said once Ulfa signs the suspension of operation, it has to deposit all weapons in its possession. ``So far, there has not been any problem in carrying forward the peace process with the Ulfa's pro-talks faction, led by its chairman Arabinda Rajkhowa. Its members have managed to keep their weapons in control. Besides, there has not been any report of misuse of arms by them,'' he said.

On Saturday, Ulfa's pro-talks faction spokesman, Mrinal Hazarika, had told TOI that they would not lay down arms. However, Hazarika had made it clear that Ulfa had no problem in declaring a formal ceasefire and sign the suspension of operation.

There has been an informal suspension of operation against Ulfa ever since Rajkhowa and his top aides, including Raju Baruah, were held in Bangladesh and brought to India in 2009.

In February this year, an eight-member Ulfa delegation, led by Rajkhowa, met Prime Minister Manmohan Singh, Chidambaram and home secretary G K Pillai and began the process of dialogue after three decades of insurgency. Though Rajkhowa and several top leaders of Ulfa favour a negotiated settlement, the elusive military boss of the outfit, Paresh Baruah, is still opposing the peace process.

TOI