Bai Kabibai and Hansraj Morarji Charity Trust sells 22.69 acres for ₹539 crore

Mumbai: Bai Kabibai and Hansraj Morarji Charity Trust has sold nearly 22

Mumbai: Bai Kabibai and Hansraj Morarji Charity Trust has sold nearly 22.69 acre of its land near Hansraj Morarji Public School in Andheri West to Arogya Bharti Health Parks Pvt Ltd and Arogya Bharti Hospitals Pvt Ltd for a sum of ₹539.83 crore.

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The trust, one of the oldest charitable trusts in the city that runs several institutions, including the Hansraj Morarji Public School in Andheri West, will be paid ₹450 crore for the 91,824.71 square metre (9.88 lakh sq ft) of total land and will be given 140 tenements of 269 sq ft each valued at ₹88 crore free of cost as part of the deal.

According to the deed of conveyance signed between the three parties, the transaction was registered on February 9, 2023, and stamp duty worth ₹32.38 crore was paid at the Andheri sub registrar office, according to the documents accessed by propstack.com.

As the trust is a public charitable trust, the sale was carried out following permission granted by the Charity Commissioner. According to the documents, the Arogya Bharti Health Parks Pvt Ltd and Arogya Bharti Hospitals have acquired development rights for 60,640 sq metre, out of which development rights for 10,000 sq metre will be assigned to Khubchandani Hospital Pvt Ltd.

According to the documents, the land has specific reservations and is also encroached. An area of 29,827.43 sq metre is reserved for private hospitals, out of which 4,776.30 sq metre is encroached. The Arogya Bharti Health Parks had purchased the development rights for this part of the land and a private hospital has been built which has also received an Occupancy Certificate in January 2008, the documents stated.

An area of 45,714 sq metre has been reserved for the tourism development zone and 16,283.28 sq metre has been reserved for a sports academy. All three lands with reservations have a total slum declared area of 15,440.21 sq metre, which has been given for development to Supra Estate India Pvt Ltd, the documents read.

The Bai Kabibai and Hansraj Morarji Charity Trust was set up in 1926 when Seth Hansraj Moraraji and his wife donated their entire wealth to the cause of education and charity. Dr KM Munshi, a freedom fighter and an educationist, was one of the founding trustees and started the Hansraj Morarji Public School as a residential school first in Thane. In 1938, Dr Munshi acquired a large piece of land in Andheri for the school. Sardar Vallabhbhai Patel had laid the foundation stone for the hostel building in 1940 and Pandit Nehru inaugurated the new school building in 1962, according to the trust website.

Apart from the public school and junior college, the trust runs a CBSE board school, a nursery school, a teachers’ training school and an ISCE board school at the Andheri campus. It also runs an English school and junior college named after Bai Kabibai in its Fort campus.

The Trust as well as Khubchandani Group could not be reached for further comments.