SECURITIES AND  EXCHANGE COMMISSIONS
Washington,  DC  20549

SCHEDULE 13D


Under the Securities Exchange Act of 1934
(Amendment No. 4)

SANTA FE FINANCIAL CORPORATION
Name of Issuer

Common Stock, Par Value $0.10 Per Share
Title of Class of Securities


802014-10-0
CUSIP Number


Mr. Howard A. Jaffe
Chief Operating Officer
The InterGroup Corporation
2121 Avenue of the Stars,  Suite 2020
Los Angeles, California 90067
(310) 556-1999
_________________________________________
Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications


December 29, 1995
Date of Event which Requires Filing of this Statement


If the filing person has previously filed a statement on Schedule
13G to report the acquisition  which is the subject of this
Schedule 13D, and is filing this schedule because of Rule 13d-
1(b) (3) or (4), check the following box.     [      ]

Check the following box if a fee is being paid with this
statement.     [     ]




CUSIP No. 802014-10-0

1.	Name of Reporting Person		Tax Identification Number
  	The Intergroup Corporation			13-3293645
			
2.	Check the Appropriate Box if a Member of a Group
  	a.			b.

3.	SEC Use Only


4.	Source of Funds
  	WC

5.	Check if Disclosure of Legal Proceedings is Required 
   pursuant to Items 2(d) or 2 ______

6.	Citizenship or Place of Organization
  	Delaware

Number of	   7.	Sole Voting Power
Shares			       204,450
Beneficially	__________________________________________________
Owned by	    8.	Shared Voting Power
Each			
Reporting   	__________________________________________________
Person		     9.	Sole Dispositive Power
With		         	204,450
           		__________________________________________________
           		10.	Shared Dispositive Power

									
11.	Aggregate Amount Beneficially Owned By Each Reporting Person
   	204,450 Shares of Common Stock

12.	Check if the Aggregate Amount in Row 11 Excludes Certain 
    Shares _________
		
13.	Percent of Class Represented by Amount in Row 11
   	32.0%
	
14.	Type of Reporting Person
   	CO

											
AMENDMENT NO. 4 TO SCHEDULE 13D
OF THE INTERGROUP CORPORATION
REGARDING OWNERSHIP OF COMMON STOCK OF
SANTA FE FINANCIAL CORPORATION

This Amendment No. 4 to Schedule 13D is being filed by 
The Intergroup Corporation ("Intergroup") to update information 
previously furnished.  This Amendment No. 4 reflects further 
Common Stock acquisitions by Intergroup.

The following Items of this Schedule 13D are amended.

Item 3.	Source and Amount of Funds or Other Consideration.

Intergroup used working capital as its source of funds 
to purchase all Shares.

Item 5.	Interest in Securities of the Issuer.

(a)	Intergroup, as of December 29, 1995, beneficially 
owns, for purposes of Section 13(d) of the Exchange Act:  (i) 
114,450 shares of the Common Stock, and (ii) 90,000 shares of the 
Common Stock which may be acquired upon exercise of Warrants.  
The shares and the Warrant Shares represent 32.0% of the 
outstanding Common Stock.

The percentages were determined based on the Company's 
representation that there are 548,019 shares of Common Stock 
currently outstanding.

(b)	Intergroup has sole voting and disposition power 
with respect to the shares and warrants described in Item 5(a).  
Mr. John V. Winfield is Chairman and President of Intergroup.

(c)	Information with respect to transactions effected 
in the Stock during the past sixty (60) days by Intergroup is set 
forth in Appendix A hereto.

(d)	No person other than Intergroup, with respect to 
its Shares, or Mr. Winfield, with respect to his shares, has the 
right to receive or the power to direct the receipt of dividends 
from, and the proceeds from the sale of, the Shares beneficially 
owned by each.

(e)	Inapplicable.

SIGNATURE

After reasonable inquiry and to the best of my 
knowledge and belief, I certify that the information set 
forth in this statement is true, complete and correct.

Dated:	December 29, 1995

THE INTERGROUP CORPORATION
						
By:  /s/Howard A. Jaffe                    

        Howard A. Jaffe
       	Corporate Secretary

SCHEDULE A

	The following table sets forth the trade date for each 
purchase of Stock by Intergroup, the number of shares of Stock 
purchased in each such transaction and the price per share in 
each such transaction effected in the past sixty (60) days.  No 
shares were sold during the period.  All the shares of Stock were 
purchased in ordinary brokerage transactions effected in the 
over-the-counter market.

Trade Date	         	No. of 		Price Per
		                  	Common 		Share
                		  	Shares
              	  		Purchased

November 6, 1995	       800	  	$24.00
November 30, 1995	      700	  	$24.25
December 29, 1995    	1,000		  $24.00