Housing Bubble

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Historic Bhabha Mansion to go under the hammer

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J J Bhabha mansion, the sprawling 15,000-sq-ft house where Homi J Bhabha , the  father of  India’s nuclear energy  programme, spent most of his growing years, has been put up for sale. After Bhabha passed away in 1966, the bungalow’s only occupant was his brother, Jamshed J Bhabha , doyen of the National  Centre for the  Performing Arts  (NCPA), India’s premiere cultural institution. However, with the younger Bhabha brother passing away in 2007, the house is in the process of being auctioned, and real estate  sources say the Malabar Hill property is worth at least Rs 250 crore at current market rates. Jamshed Bhabha passed away at 93, and leaves no heirs behind to lay claim to the property. In his will, discovered three years after his death, he left almost his entire estate—his Mumbai bungalow and a priceless art collection—to the institution he set up 44 years ago. The will is learnt to have been drawn up 20 years ago. The 3-storeyed J J Bhabha...
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