New Delhi: The Reserve Bank of India (RBI) has confirmed that it will auction three of its bungalows in the popular hill station town of Lonavala. The houses were previously RBI staff holiday homes, but now the bank is making them available to private individuals.
Set right opposite the picturesque Lonavala Lake, the three bungalows collectively occupy over 3,800 square meters of freehold property. For anyone who has ever been to Lonavala, this in itself comes across as a dream abode.
RBI has set a reserve price of ₹6.55 crore for all three bungalows. If someone wants to bid, they must also submit an earnest money deposit (EMD) of ₹10 lakh. The houses are being sold on an “as is, where is” basis, which means buyers will get the properties in their current condition, no repairs, no upgrades, nothing extra from RBI’s side.
Prospective buyers can view the bungalows until September 8, 2025, with the deadline for submitting bids being September 9, 2025. The sale is being handled by Cushman & Wakefield India, a popular property consultant. Through their efforts, the bidding procedure is likely to remain transparent and competitive.
Why Lonavala properties are always in demand?
Lonavala is about 100 km from Mumbai and 60 km from Pune, making it the weekend getaway of choice for city folk. From the monsoon showers of July to winter nights of December, the town remains in full swing with tourists and second-home buyers.
Property insiders opine that high-end villas in Lonavala tend to exceed ₹15,000 per sq. ft. A well-constructed 3 or 4 BHK villa in the area costs between ₹2 crore to ₹3 crore, with rentals fetching 10–15% yield at times. For some, it’s not merely a purchase of a house, but of a lifestyle.
The town’s beauty has also attracted Bollywood to it. Actor Dharmendra owns a huge 100-acre farmhouse off Pawna Lake. Sunil Shetty has his second home in Khandala, only a few kilometers away. Even Salman Khan’s farmhouse in Panvel and Suhana Khan’s property in Alibaug reflect how stars like to have such properties for their peace and seclusion. Lonavala is firmly on that celebrity circuit.
The sale by the RBI might just be a case of unwinding old holdings. But at the same time, it reveals how government bodies are gradually moving away from holding onto luxurious properties that were originally intended for their employees.
For the buyers, it is a golden chance. Consider this, where else would you find not only one, but three bungalows, on freehold property, next to Lonavala Lake, for a floor price of ₹6.55 crore? In a market where a single premium villa can go up to ₹3 crore, this offer hardly seems like RBI has put its old memories on clearance sale.
Summary of Key Details:
Total properties: 3 bungalows around Lonavala Lake
Land area: 3,800+ sq. meters, freehold
Reserve price: ₹55 crore (aggregate)
Bid date: September 9, 2025 (inspections permitted up to Sept 8)
EMD: ₹10 lakh
Sale condition: “As is, where is”, buyers to settle outstanding local taxes
Handled by: Cushman & Wakefield India
