Wednesday, October 10, 2007

Tendulkar turns builders - for himself

After Ambani its the turn of Tendulkar to build a few floors for himself.

Mumbai: Even as master-blaster Sachin Tendulkar prepares for his 400th ODI in Vadodara on Thursday, Mumbai’s premium suburb of Bandra (west), the real estate market is abuzz with speculation that the cricketer is buying a prime bungalow property near Carter Road, not far from the sea.
Although there is a veil of secrecy and even denials, market sources say Tendulkar is keen on buying a property located at 29, Perry Cross Road. The transaction could be in the region of Rs 38 crore-Rs 40 crore and is believed to have been brokered through a Bandra-based property broker, Bihari Khandari.
Local political contacts, who generally have their ears to the ground as far as building activity in this area is concerned, confirmed Tendulkar’s interest in the property.
The bungalow’s current owner Kishore Bajaj denied that his property had been sold. “It is up for sale, but no deal has been concluded with anyone so far,’’ he told this newspaper on Wednesday. Tendulkar’s wife Anjali too denied any deal had been struck.
Last month, a public notice was issued regarding this property on behalf of an unknown client, asking for any person having any claim, right, title or interest to come forward within ten days. “So far we have not received any objections,’’ said advocate Sanjay Udeshi who issued the notice. Udeshi said his client was a developer called Satra Properties and not Tendulkar.
The property is situated just one lane before the landmark Joggers’ Park and a couple of hundred metres from the sea. The ground-plus-one storey bungalow, constructed in the 1920s, is more popularly known as Dorab Villa in the area. Till recently it belonged to a Parsi joint family—the Wardens. One part of the Warden family had sold their share to Bajaj in 1987 for Rs 41 lakh. Another part of this family finally sold their part a few years ago, reportedly for a couple of crores.
The bungalow, which is currently in a run-down state, is situated on land measuring about 9,000 sq ft. The floor area of the bungalow (2 floors) is close to 10,000 sq ft.
Sources said the property falls under the coastal regulation zone (CRZ). Hence, it can be redeveloped with only a limited floor space index (FSI) of 1 instead of FSI 2, which is available to other properties not falling under the CRZ. “With the limited FSI, Sachin will be able to set up not more than ten floors. The first two or three floors may be used for parking,’’ a source familiar with the deal said. That will be enough to give him a view of the sea, something Tendulkar is said to be keen on.
Sachin at present lives at La Mer in Mount Mary, Bandra —- the same building where Aishwariya Rai lived till she married Abhishek Bachchan. He grew up in Sahitya Sahavas in Bandra (east).
In 2003, Tendulkar had reportedly met the then chief minister Sushilkumar Shinde to seek his help for buying a plot at Shirley Rajan village in Bandra (west).

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