RBI Puts Three Scenic Lonavala Bungalows Up for Sale at ₹6.55 Crore
The Reserve Bank of India (RBI) invites bids for three bungalows in Lonavala, a popular hill station. The properties, priced at ₹6.55 crore, are attracting strong interest from investors and second-home buyers.
LonavalaReal EstateRbiBungalowsSecond HomesReal Estate MumbaiAug 21, 2025
The three bungalows are freehold properties, situated on a combined plot exceeding 3,800 sq meters. These ground-plus-one structures were previously used by the RBI as holiday homes for staff. The last date for physical inspection is September 8, 2025, and the deadline for submitting bids is September 9, 2025. Cushman and Wakefield India has been appointed to manage the sale process through sealed offer bidding.
Lonavala has long been a sought-after destination for second homes, attracting investors looking for villas, farmhouses, and bungalows. The primary buyers are typically from Mumbai, Pune, and Gujarat, while Non-Resident Indians (NRIs) also contribute to the demand. The area’s scenic landscapes, proximity to major cities, and cooler climate during monsoon and winter months make it a preferred weekend getaway.
Local brokers report that villas in Lonavala command rates exceeding ₹15,000 per sq ft, with 3-4 BHK villas and serviced apartments typically priced between ₹2 crore and ₹3 crore. Gross rental yields are estimated to range from 10% to 15%, reflecting strong investor interest.
Lonavala’s appeal is further enhanced by its association with Bollywood celebrities, which adds a premium to the local real estate market. Actor Dharmendra owns a 100-acre farmhouse near Pawna Lake, while Salman Khan has a property in Panvel, about 50 km from Lonavala. Sunil Shetty also owns a second home in nearby Khandala. Other notable locations like Goa, Alibaug, Igatpuri, and Karjat have also seen significant celebrity investments, including Shah Rukh Khan’s daughter Suhana Khan owning land in Alibaug.
Analysts say that the sale of these RBI properties reflects the ongoing demand for high-quality second homes in Lonavala, particularly for buyers seeking secure and established residences with scenic surroundings. The presence of institutional buyers and NRIs further supports the perception of Lonavala as a stable investment destination.
The RBI’s decision to liquidate these assets aligns with broader efforts to optimize its property portfolio. The sale process is designed to ensure transparency and fair competition, providing interested buyers with the opportunity to acquire prime real estate in a highly sought-after hill station.
Frequently Asked Questions
What is the base price for the three bungalows in Lonavala?
The base price for the three bungalows in Lonavala is ₹6.55 crore.
What is the earnest money deposit required to submit a bid?
An earnest money deposit of ₹10 lakh is required to submit a bid.
When is the last date for physical inspection of the properties?
The last date for physical inspection of the properties is September 8, 2025.
What is the deadline for submitting bids?
The deadline for submitting bids is September 9, 2025.
Which company has been appointed to manage the sale process?
Cushman and Wakefield India has been appointed to manage the sale process through sealed offer bidding.
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