The house situated on 10, King Henry Road, NW3, where the architect of Indian Constitution lived while he was pursuing higher studies at the London School of Economics during 1921-22, is being auctioned by the owner.
The bungalow's price is estimated at Rs 40 crore. A plaque that "Indian Crusader for Social Justice Dr B R Ambedkar lived here during 1921-22" is put outside the house, Maharashtra Social Justice Minister Rajkumar Badole said after a state Cabinet meeting.
He said permission of the central government would be taken before proceeding with the purchase.
"We will require Rs 40 crore to purchase the house and later annual maintenance of Rs 61 lakh. We can recover some of the maintenance amount from rent as we will give four rooms to four Dalit students, who come to London on scholarship to pursue higher studies. Similarly, one bedroom will be for professor on official visit," he said.
Badole said the first instalment of Rs five crore has been sanctioned for appointment of solicitor and surveyor.