The News Minute | June 19, 214 | 8:54 AM IST Dr Homi J Bhabha's house‘Meherangir’, was sold for Rs 372 crore by the National Centre for the Performing Arts (NCPA) on Wednesday. The house was auctioned for 372 crore rupees, the minimum reserve for the property was 257 crores. The public auction was conducted under the provisions of the Bombay Public Trust Act, 1950.Reports say that the proceeds from the auction would be utilised for modernisation of the theatres and upgradation of equipments.A faction of people from the the scientific fraternity were opposed to the auction, they said that the house should be preserved as a heritage structure. The property was partly owned by Bhabha, but after his death it went to his brother who gave it to the NCPA. A spokesperson for NCPA also critcised the scientists opposition to sell the house saying BARC has lot of funds and they could have used that to bid for the bungalow.There were about eight bidders initially, but only three came for the auction.