Thank you very much Subrata ji for this interesting information.
Incidentally, the flower of this tree happens to be the State Flower of Maharashtra ... known locally as जरुल jarul, मोठा बोंडारा motha bondara, ताम्हण taamhan.
Not yet come across description of its value associated to the state.
I keep wondering whether it is native to the state ... most often I have found it planted in gardens and along avenues.
There was a discussion on the subject of its nativity to Maharashtra State ... that - it is found growing wild in the Konkan ... I am not yet convinced.