MUMBAI: A Parsi-owned bungalow on Carmichael Road in south Mumbai has been sold to BGH Properties, an Aditya Birla Group company, for Rs 220 crore.
The half-acre property called Sunny Ville belonged to a Parsi woman, Ernevaz Kharshedji Dubash, who passed away in 2013. It is learnt that the proceeds of the sale will be used for charitable purposes. The objects of the trust are relief to the poor, advancement and propagation of education to students and institutes and medical relief to individuals and hospitals or like institutions.
The mother of Ernevaz Dubash had formed a public charitable trust known as PEROWSHAW DHUNJISHAW BOLTON CHARITIES on March 18, 1960. The settler was Soonabai Perowshaw Bolton and the first trustees were Soonabai Perowshaw Bolton, Ernevaz Kharshedji Dubash and Nadirshaw Rustamji Mulla, a solicitor of Mulla and Mulla.
Ernevaz Dubash left a last will and testament dated November 5, 2012. By her will she appointed six persons as her executors to administer her estate and carry out her wishes. They were Madhusdan Tijoriwala (since deceased), Eddie Palia, Adi Jehangir, Cyrus Nallaseth, Darious Cambatta and Chetan Shah.
In her will, Dubash had specifically mentioned that her shares and securities should be sold and transferred to Perowshaw Dhunjishaw Bolton Charities.
By the will of Mrs Ernevaz Dubash she had directed that all her furniture, antiques, original Mughal paintings, silverware should be sold, and the net sale proceeds be transferred to Perowshaw Dhunjishaw Bolton Charities,'' said a family source.
In 2015, her private collection was sold in a public auction at Mumbai's Pundole Art gallery and is believed to have raised about Rs 18 crore. These included Mughal and Deccani paintings dating back to the 16th and 18th centuries, jewellery and a crystal chandelier. The paintings included a rare work by V S Gaitonde.
The bungalow, Sunny Ville, that has been sold, can be redeveloped under development control regulation 33 (7) since it's a cessed property with tenants. The new buyer could get a total gross built up area of over 70,000 sq ft, which includes space for rehab, free sale and Mhada's share.