Property worth Rs 232 crore up for sale in Mumbai

Allahabad Bank has put on sale a prime piece of its property up for sale on tony Pedder Road for a reserve starting price of Rs 232 crore. Located opposite Jaslok Hospital, the 1,241 sq m plot has caught the eye of several leading developers who have evinced interest. The Kolkata-headquartered bank’s Estate Management department floated a tender earlier this month inviting bids from parties interested in purchasing the property. The last date of submission of bids is March 4, 2019. The 154-year-old bank had a three-storied building on Gopalrao Deshmukh Marg earlier, which housed the Pedder Road branch, and it intended to construct a multi-storey building. However, the Reserve Bank of India, which had imposed certain restrictions on the public sector bank due to its weak financials, refused permission to construct it.