Team Opulnz Abode: 15-10-2024, 05:21: Read Time – 2.5mins
Mumbai, one of the most densely populated cities in the world, faces significant challenges due to its scarce and costly land. According to a survey conducted by the Slum Rehabilitation Authority (SRA), which oversees slum redevelopment projects in Maharashtra, certain private entities own a substantial portion of the city’s land. As per the SRA report, Mumbai spans over 1 lakh acres, with the habitable area being around 34,000 acres. Surprisingly, about 20% of this habitable land is controlled by just nine landlords, with six of the most prominent being private families and trusts.
Godrej Properties
The Godrej family tops the list of the largest landowners in Mumbai, holding more than 3,400 acres of land in the Vikhroli area along the Eastern Express Highway. The family, which also runs the Godrej Group—a conglomerate dealing in real estate, consumer goods, and more—has been monetizing its vast land bank in phases. In June 2024, the family decided to split its businesses, with Adi and Nadir Godrej retaining Godrej Industries and cousins Jamshyd and Smita acquiring Godrej & Boyce and significant real estate holdings, including land in Mumbai.
The value of Godrej’s Vikhroli land is estimated to be between ₹30,000 crore and ₹50,000 crore, depending on various limitations, including environmental reservations such as forests and mangroves.
Godrej Properties Upcoming projects in Delhi NCR
- Godrej Miraya Sector 43: https://www.opulnzabode.com/godrej-miraya-sector-43-golf-course-road-gurgaon/
- Godrej Sector 53 Gurgaon: https://www.opulnzabode.com/godrej-sector-53-gurgaon-golf-course-road/
- Godrej Sector 54 Gurgaon: https://www.opulnzabode.com/godrej-sector-54-golf-course-road-gurgaon/
- Godrej Sector 44 Noida: https://www.opulnzabode.com/godrej-sector-44-noida/
FE Dinshaw Trust
The FE Dinshaw Trust holds the second-largest land parcel in Mumbai, owning about 683 acres, primarily in the Malad area. The trust was founded by F.E. Dinshaw, a Parsi solicitor-financier and landowner who passed away in 1936. The family has since either monetized or had portions of their holdings acquired by the government.
Pratapsingh Vallabhdas Surji’s Family
The third largest landowner in Mumbai is the family of Pratapsingh Vallabhdas Surji, who controls approximately 647 acres of land. Most of their holdings are situated in and around the Bhandup area.
Jeejeebhoy Ardeshir Trust
This trust ranks fourth, owning around 508 acres of land, mainly in Chembur. The Jeejeebhoy family has been a significant player in Mumbai’s land market for generations, contributing to the development of several areas in the city.
The AH Wadia Trust
The AH Wadia Trust controls 361 acres in Kurla, which has seen significant encroachment. Established by Ardeshir Hormusji Wadia, the trust once held vast stretches of land in Kurla, leased out at very low rents in the 19th century.
Byramjee Jeejeebhoy Group
The Byramjee Jeejeebhoy Group, rooted in 19th-century philanthropy, owns 269 acres of land in Mumbai. Sir Byramjee Jeejeebhoy was granted land by the East India Company in 1830, including prime areas like Bandra’s Land’s End, where the iconic Taj Hotel now stands.
Historical Context: Parsi Community’s Role in Mumbai’s Land Ownership
Interestingly, a large portion of Mumbai’s privately held land belongs to the Parsi community, which gained significant wealth during the British era, mainly through the opium and cotton trades. Many Parsi families were granted large land parcels during British rule and have retained ownership through generations. According to Bharat Gothoskar, a city chronicler and founder of the KHAKI Heritage Foundation, these wealthy families were instrumental in shaping Mumbai’s modern landscape.
Government Ownership of Land in Mumbai
In addition to private entities, several government bodies, including the Mumbai Port Trust, the National Textiles Corporation, and Indian Railways, own large land parcels in Mumbai. Government agencies, along with private landlords, have a significant influence on the city’s real estate landscape.
These private and public entities control significant portions of Mumbai’s land and play a crucial role in shaping the city’s future development.
