Mumbai is known for its sky-high property prices, and the scarcity of available land makes it even more valuable. The city, with its thriving real estate market, is home to Bollywood and serves as India’s financial hub. While the city is always expanding upwards, the available land is surprisingly concentrated in the hands of a few major families and trusts. Let’s take a closer look at who controls a significant portion of Mumbai’s land and how they acquired it.
1. Godrej Family: Leading Landowner in Mumbai
At the top of the list is the Godrej family, which owns a massive 3,400 acres of land in the Vikhroli area of Mumbai. This prime property, located along the Eastern Express Highway, has been with the family for generations. The Godrej Group, which deals in products ranging from soaps to real estate, recently restructured, with cousins Adi and Nadir Godrej retaining control of Godrej Industries. Meanwhile, Jamshed and Smita Godrej inherited key properties in Mumbai, including the family’s vast land holdings in Vikhroli.
Although much of the Godrej land has certain legal limitations that affect its development potential, estimates suggest that its current value is around Rs. 30,000 crore. If these restrictions were lifted, the value could exceed Rs. 50,000 crore, making it one of the most valuable pieces of land in the country.
2. F.E. Dinshaw Trust: Holding Land in Mumbai’s Suburbs
The F.E. Dinshaw Trust is the second-largest landowner in Mumbai, with 683 acres in Malad and nearby areas. Founded by the prominent Parsi solicitor F.E. Dinshaw, who passed away in 1936, the trust inherited a large amount of land. Over time, some of this land has been acquired or utilized by the government, but a substantial portion remains under the trust’s control.
3. Pratapsingh Vallabhdas Surji’s Family: Bhandup’s Largest Landowner
Another significant landholder in Mumbai is the family of Pratapsingh Vallabhdas Surji, who owns 647 acres of land, primarily in the Bhandup area. This family has been a key player in Mumbai’s real estate scene, holding onto vast properties over generations, making them one of the biggest landowners in the city.
4. Jeejeebhoy Ardeshir Trust: Chembur’s Real Estate Giant
With 508 acres in the Chembur area, the Jeejeebhoy Ardeshir Trust is another large landholder in Mumbai. This trust has managed to retain ownership of significant portions of prime land in the city over the years. Its properties are situated in one of the city’s most sought-after neighborhoods, contributing to its value in Mumbai’s real estate market.
5. A.H. Wadia Trust: Kurla’s Major Landowner
The A.H. Wadia Trust holds 361 acres of land in Kurla, a bustling commercial and residential hub in Mumbai. This land once belonged to the Cama family, who also managed the famous Mumbai Samachar newspaper. In the early 19th century, Ardeshir Hormuji Wadia leased the land for a modest rent of Rs. 3,587 annually, and the trust has held onto it since then. Today, much of the land is encroached upon, but it remains a valuable asset for the trust.
6. Byramji Jeejeebhoy Group: A Legacy of Land Ownership
The Byramji Jeejeebhoy Group owns 269 acres of land spread across various parts of Mumbai. Sir Byramji Jeejeebhoy, a prominent Parsi philanthropist, was granted 12,000 acres of land by the East India Company in 1830. He played a major role in shaping Mumbai’s real estate landscape. His estate even included Bandra’s Lands End, where the Taj Hotel now stands, although much of the land has since been developed or sold.
Landowners Shaping Mumbai’s Future
The concentration of land ownership in Mumbai among a few families and trusts underscores the unique nature of the city’s real estate market. These families have held onto their land for decades, passing it down through generations or managing it through trusts. As Mumbai continues to grow, these landowners will play a crucial role in its development, with some likely to unlock the potential of their vast land banks in the future.
