The Reserve Bank of India (RBI) has announced the auction of three residential bungalows located in the popular hill station of Lonavala, about 100 km from Mumbai and 60 km from Pune. Known for being a sought-after second-home market, Lonavala is also a preferred destination for many Bollywood celebrities who own farmhouses and villas in the region.
The three bungalows, once used by RBI employees as holiday homes, are situated on a land parcel of more than 3,800 square meters near Lonavala Lake. The sale will be conducted on an “as is, where is” basis with a reserve price of ₹6.55 crore.
To participate in the bidding process, interested buyers must deposit an Earnest Money Deposit (EMD) of ₹10 lakh.
Date of Tender Notice: 18 August 2025
Last Date for Property Inspection: 8 September 2025
Deadline for Bid Submission: 9 September 2025
RBI has appointed Cushman and Wakefield India to oversee the sale through a sealed-offer bidding process. The successful buyer will also be responsible for settling any pending local taxes, as per the notice.
Lonavala continues to be one of the top choices for luxury second-home investments in western India. Current market estimates suggest that villas in the area often sell for ₹15,000 per sq ft or more, with 3–4 BHK independent houses priced between ₹2–3 crore upwards.
The region also provides attractive rental yields, ranging from 10% to 15%, making it an appealing option for both end-users and investors.
Celebrities further add to Lonavala’s charm as a premium destination. Actor Dharmendra owns a 100-acre farmhouse near Pawna Lake, around 20 km away, while Salman Khan has a farmhouse in Panvel, and Sunil Shetty has a residence in nearby Khandala.