RBI to Sell 3 Lonavala Bungalows for Rs. 6.55 Crore

The Reserve Bank of India (RBI) has invited bids for the sale of three bungalows in Lonavala, a popular hill station near Mumbai, at a reserve price of ₹6.55 crore.

Located near the scenic Lonavala Lake, the ground-plus-one holiday homes were previously used by RBI staff. The sale will be conducted on an “as is, where is” basis through a sealed offer bidding process, managed by property consultant Cushman and Wakefield India.

Key Highlights

• RBI to sell 3 Lonavala bungalows at Rs. 6.55 crore base price
• Sale managed by Cushman & Wakefield via sealed bids
• Lonavala remains a prime second-home and investment hotspot

The bungalows are situated on a freehold plot of over 3,800 sq. meters, with the last date for inspection fixed as September 8, 2025, and bid submission closing on September 9, 2025. Interested buyers must also provide an earnest money deposit (EMD) of Rs. 10 lakh along with their bids. According to the tender, buyers will be responsible for clearing all pending taxes with local authorities.

Industry sources suggest the sale is part of RBI’s move to liquidate assets. Lonavala, located 100 km from Mumbai and 60 km from Pune, is among the most sought-after second-home destinations in India, especially popular among buyers from Mumbai, Pune, Gujarat, and NRIs.

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Local brokers report that villa prices in Lonavala can exceed Rs. 15,000 per sq. ft., with 3–4 BHK villas priced upward of Rs. 2–3 crore. The region offers attractive rental yields of 10–15 percent gross, making it a lucrative market for investors seeking vacation homes or income-generating properties.