Gupta Properties in Upscale Neighborhood Sold at 46% Discount Amid Scandal

South Africa has sold three luxurious mansions associated with the Gupta brothers, who are linked to corruption, for approximately 46% less than their municipal valuation.

The properties garnered around R34.5 million ($1.9 million), which includes commissions and taxes, according to Park Village Auctions on Tuesday. Each property has its own title deed, is in disrepair, and holds a combined municipal value of about R64 million.

Situated in Saxonwold, one of the oldest and most affluent neighborhoods in Johannesburg, these homes were previously owned by Atul, Rajesh, and Ajay Gupta—powerful Indian-born businessmen accused of masterminding a widespread corruption scheme that has plunged the nation into its worst political and economic crisis since apartheid ended.

The sale came after a public auction of the properties—boasting an indoor pool, mini cricket pitch, and beauty salon—failed to generate much interest last month, with auctioneers only receiving one bid for the smallest house. The proceeds will aid in settling claims from creditors following the bankruptcy of Confident Concept, the Gupta-affiliated company that owned the estates, which sought bankruptcy protection in 2018.

About two decades ago, the brothers started acquiring these homes, entertaining high-ranking officials and businesspeople for over ten years. Their compound was identified as the central hub of a scandal dubbed “state capture” during an inquiry led by former Chief Justice Raymond Zondo, which began in 2018 and implicated over 1,400 individuals and entities. The inquiry revealed that clandestine meetings occurred in these homes, where numerous guests were promised kickbacks to assist the family and their associates in influencing government policies and securing contracts.

The Gupta brothers fled to Dubai just prior to the African National Congress compelling Jacob Zuma to resign as president in 2018, following a drop in electoral support linked to his associations with the family. Both the Guptas and Zuma have denied any illegal activities.

Atul and Rajesh, who are wanted in South Africa on charges such as money laundering and fraud, have received sanctions from both the US and UK governments. They were arrested in the UAE in 2022 after being placed on Interpol’s most-wanted list. A UAE court rejected South Africa’s extradition request in 2023, leading to the cancellation of the arrest warrant, while South Africa provisionally withdrew the arrest warrant for Ajay in 2019.

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