The Reserve Bank of India (RBI) has invited bids to sell three bungalows in Lonavala, a popular hill station located approximately 100 km from Mumbai and 60 km from Pune. The base price for the properties has been set at ₹6.55 crore, with an earnest money deposit of ₹10 lakh required for submission. According to the tender notice, the bungalows will be sold on an “as is, where is” basis, and prospective buyers will be responsible for clearing all pending taxes with local authorities.
The three bungalows are freehold properties situated on a combined plot exceeding 3,800 sq meters. They are ground-plus-one structures 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 traditionally been a sought-after destination for second homes, attracting investors looking for villas, farmhouses, and bungalows. Buyers are typically from Mumbai, Pune, and Gujarat, while Non-Resident Indians (NRIs) also contribute to 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 indicate 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.
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