Demolition work begins on Nirav Modi’s Raigad beach bungalow

Raigad: Demolition work began on Friday at absconding diamantaire Nirav Modi’s sprawling beach bungalow here, official sources said.

A demolition squad led by SDO Alibaug, Sharada Powar, started work at around 4 p.m. and it may continue for up to a week at the palatial stone-and-marble bungalow standing on a huge verdant green plot opposite the famed Kihim beach.

According to official records, the 33,000 sq.ft luxurious bungalow, constructed partly as a ground-plus-one structure, is situated on a 70,000 sq.ft area, with a driveway, high metal fencing and a huge security gate.

The bungalow, which was built around 2009-2010, was infamous for lavish parties that Nirav Modi, the prime accused in the Rs 13,500 crore Punjab National Bank fraud case, threw for friends and family.

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The demolition was taken up in accordance with a Bombay High Court order on a PIL filed by NGO Shamburaje Yuva Kranti, demanding action against various illegal bungalows, hotels and resorts violating the high tide and low tide zones in tiny villages dotting the beaches of Raigad.

The NGO’s state chief Surendra Dhavale said that so far 10 bungalows have been demolished in the past few weeks and now Nirav Modi’s bungalow is being razed.

“The claimed value of the property is Rs 13 crore, but given the current market rates, this bungalow is worth over Rs 100 crore,” Dhavale told IANS.

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[source_without_link]IANS[/source_without_link]

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