The City of Mumbai’s Largest Landowner

Mumbai, the city of dreams and India’s business capital, is also the most priced real estate market in India. Owning a piece of land in Mumbai is a matter of pride and clout. Five families or family trusts own more than 20% of the habitable land area in Mumbai.

Among these 5 families, ‘The Godrej Family’ comes at the top. The family owns around 3,400 acres of land in Mumbai. The land parcel is distributed in Vikhroli, Bhandup, and Nahur.

The biggest land parcel of the Godrej family is in Vikhroli. The family has 3,050 acres of land in Vikhroli. Out of these, 300 acres of land is encroached by other parties. While 1,750 acres of land is covered by mangrove forest area 1,000 acres of land is currently available to develop.

Godrej Platinum, Vikhroli, Mumbai

The 1,000 acres of land (29.5% of total land) which is available to residential and commercial development is currently valued at 1 Lakh crores ( $13.5 billion).

This makes the Godrej Family the biggest landowner in Mumbai and probably in India. The land parcel is owned through Godrej and Boyce’, an unlisted company.

This vast land parcel was purchased by Pirojsha Godrej, the grandfather of the present Godrej family head Adi Godrej. He purchased the land during the British era for a sum of no Lakh rupees.

According to a report on Business Today, the land once fully developed can potentially be worth T4.35 Lakh Crores ($58.7 billion).

The two factions of the Godrej Family are currently going through a dispute regarding the plans to develop the huge land parcel owned by the family.

The Adi & Nadir Godrej faction is being advised by banker Uday Kotak and top lawyer Cyril Shroff while banker Nimesh Kampani and lawyer Zia Mody are advising the Jamshyd & Smitha Godrej faction of the family.

Conclusion

Mumbai, the city of dreams and India’s business capital is also the most priced real estate market in India. The biggest land parcel of the Godrej family is in Vikhroli. The land parcel is owned through ‘Godrej and Boyce’, an unlisted company. The two factions of the Godrej Family are currently going through a dispute regarding the plans to develop the huge land parcel owned by the family.

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