Mumbai, 18th October 2024: Mumbai is a city with limited land availability, making it one of the most expensive places in the country. A survey conducted by the Slum Rehabilitation Authority (SRA) revealed that some of the largest landowners in the city possess nearly 20% of all land parcels.
According to a 2015 SRA survey, which oversees slum redevelopment projects in Maharashtra, the real estate landscape in Mumbai encompasses over 100,000 acres, with about 34,000 acres being habitable.
Of the total land, around 20% is owned by nine private entities, including families and trusts. Notably, the Godrej family holds approximately half of this share, primarily in the Vikhroli area of Mumbai.
1. Godrej Properties
The Godrej family is the largest landholder, owning just over 3,400 acres in Vikhroli, situated along the Eastern Express Highway (EEH). The family has been strategically monetizing this land over time. In June 2024, the Godrej Group announced a restructuring, with Adi and Nadir Godrej retaining Godrej Industries, which includes five publicly listed companies, while cousins Jamshyd and Smita took charge of Godrej & Boyce and its affiliates, along with their land assets.
According to a Mumbai-based real estate developer who wished to remain anonymous, “The Godrej family’s land bank is approximately 3,400 acres, but it has certain reservations that limit development. If valued under current constraints, it could be worth around ₹30,000 crore, and if those constraints were lifted, it might exceed ₹50,000 crore.”
Vikhroli is centrally located and surrounded by areas like Powai, Mulund, and Bhandup. Due to existing reservations related to forests, mangroves, and coastal regulations, some plots face restrictions on construction, as explained by industry experts.
2. FE Dinshaw Trust
The FE Dinshaw Trust comes in second, owning about 683 acres across Malad and neighbouring regions. F E Dinshaw, a Parsi solicitor-financier who passed away in 1936, left behind substantial land holdings for his family, some of which have been acquired by the government over time.
3. Pratapsingh Vallabhdas Surji’s Family
The third largest landowner is the family of Pratapsingh Vallabhdas Surji, with approximately 647 acres in the Bhandup area and its surroundings.
4. Jeejeebhoy Ardeshir Trust
The Jeejeebhoy Ardeshir Trust ranks fourth, holding 508 acres in Chembur, Mumbai.
5. AH Wadia Trust
This trust owns 361 acres in Kurla. Reports indicate that in the early 20th century, the Cama family, who managed the trust, owned nearly a third of the land in Chembur. In the early 19th century, Ardeshir Hormusji Wadia leased land in Kurla for a nominal yearly rent, which is now largely encroached upon.
6. Byramjee Jeejeebhoy Group
The Byramjee Jeejeebhoy Trust possesses 269 acres in various locations throughout Mumbai. Sir Byramjee Jeejeebhoy, a Parsi philanthropist from the 19th century, received approximately 12,000 acres from the East India Company in 1830 and was known to own land in Bandra where the Taj Hotel now stands.
Additionally, other private landlords like the Sir Muhummed Yusuf Khot Trust and the VK Lal family own significant land parcels in Kanjurmarg and Kandivali.
A Historical Perspective
The Parsi community has historically owned extensive land banks in Mumbai. “Since medieval times, village landlords collected taxes on agricultural produce for rulers and held various titles like Zamindar or Deshmukh. Under Portuguese rule, noble families were granted land to manage, known as Foreiros or Vazadors,” explained Bharat Gothoskar, a city chronicler and founder of the KHAKI Heritage Foundation.
“During British rule, this practice continued, with many villages being allocated to wealthy individuals, including Marathi Hindus and Konkani Muslims. The Parsi community, which prospered from the opium and cotton trades, acquired substantial land on Salsette Island,” Gothoskar added.
Government authorities also own considerable land holdings in Mumbai. Various agencies, including the Mumbai Port Trust, National Textiles Corporation, and state and central governments, possess significant land parcels across the city.