Nearly two decades ago, a Dadar woman willed her house to the Mumbai university, suggesting that it use the funds generated for a scholarship.
Who is this charitable woman?
The woman, Saudamini Pantavaidya, lived in a 815-sq-ft flat in Dadar Parsi Colony. She passed away on April 29, 1995.
Little else is known about the woman, or what inspired her to make the endowment. The flat is in a two-storey building on Ghantee Road, one of the high-value areas in central Mumbai.
What took varsity so long to act?
The executors of her will said she felt that the flat could either be sold or rented out and the money used for a scholarship to the topper in the engineering stream.
It's strange that the university did nothing about this till now.
Dr Naresh Chandra, pro-vice chancellor of the University of Mumbai, said, "We got possession of the flat only in 2002 after a prolonged process with the executors of the will. Also, we could not rent out the flat as the building was in a dilapidated state."
What has changed since then?
In 2006, a private developer presented a proposal for redevelopment of the building. The varsity together with the other residents negotiated an agreement with the developer.
The construction of the new building will be completed shortly and varsity officials expect to get possession of the flat within six months. The new flat will have a larger area of 985 sq ft.
What is the varsity's plan now?
University sources say the exact amount of the scholarship would be fixed only after a valuation of the flat.
"We have not got any money from the flat till now so we could not start the scholarship. We hope to get possession of the flat soon. We should be able to start the scholarship from the next academic year," a university official said.
In the meanwhile, a top official has been asked to work out details like rules and regulations for this award. "This is a precious donation for the varsity," the official said.
What do other think about this matter?
Asked about the likely rent from the flat, a real estate expert estimated the value of the property at over Rs4 crore. The rent amount could be up to Rs75,000.
Sudhakar Tamboli, senate member, said, "This was a big gesture by a generous woman. The varsity has not been serious on the matter. The scholarship will motivate youngsters and help the meritorious student to pursue his/her studies."
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