Baba Siddique: The Rise of a Political and Real Estate Magnate
Baba Siddique, a prominent figure in Mumbai’s political and real estate landscape, began his career as a corporator in 1995 and later rose to become a Minister of State for Food and Civil Supplies and Labour in the Maharashtra government. His influence in
Baba SiddiqueReal EstateMumbaiPoliticsSlum RehabilitationReal Estate MaharashtraOct 17, 2024
For many, Siddique was best known for his lavish Iftar parties, which attracted top Bollywood celebrities like Salman Khan, Shahrukh Khan, Shilpa Shetty, Raj Kundra, Sonu Sood, and Katrina Kaif. These events solidified his reputation as a man with close ties to the film industry and the often murky world of real estate.
Siddique's rise in the real estate sector was significantly influenced by the Maharashtra government’s slum rehabilitation policy, launched in 1998. This policy aimed to provide free homes to eligible slum families while offering real estate developers access to prime locations in Mumbai for commercial and luxury projects. Siddique formed a partnership with the Wadhawans of Dewan Housing, and their first major project was the redevelopment of Daulat Nagar slum in Santacruz. Although the Wadhawans later faced legal troubles, this initial collaboration laid the foundation for Siddique's real estate empire.
Siddique's deep understanding of the political system and his close relationships with politicians and officials at the Brihanmumbai Municipal Corporation (BMC) made him a key player in real estate deals in areas like Bandra, Khar, and Santacruz. In 2004, he registered his own company, Zears Developers Pvt Ltd, which undertook several high-profile projects. Notable among these were the Link Square Mall on Linking Road, Shiv-Asthan Heights on 16th Road, and Maqba Heights at Pali Naka. Some of his extended family members are said to occupy several floors in the Maqba Heights building.
Despite losing the 2019 Bandra West assembly election to BJP’s Ashish Shelar, Siddique's financial declarations showed significant wealth. His assets were valued at Rs 76 crore, with liabilities of Rs 23 crore. His assets included cash holdings of Rs 87,000, bank deposits of Rs 42 lakh, and property valued at Rs 23 crore. However, his actual wealth and influence were believed to be much more extensive, extending overseas.
One of the luxury projects associated with Siddique was 81 Aureate in Bandra West, a sprawling complex housing 81 families, including celebrities like Arjun Kapoor, Sonakshi Sinha, and Malaika Arora. The project was embroiled in controversy when the Enforcement Directorate (ED) raided and attached 33 high-end apartments, alleging money laundering. Although the case eventually collapsed, it wasn’t the only controversy surrounding Siddique.
He faced numerous allegations of questionable land deals, peddling political power, and acting as an enabler between various interests. Despite these claims, Siddique continued to maintain his influence and was granted a state funeral after his death.
Frequently Asked Questions
When did Baba Siddique start his political career?
Baba Siddique began his political career as a corporator from Bandra in 1995 and was elected to the Maharashtra Legislative Assembly in 1999.
What was Baba Siddique's role in the real estate industry?
Siddique played a significant role in the real estate industry, particularly through the Maharashtra government’s slum rehabilitation policy and his partnership with Dewan Housing. He later registered his own company, Zears Developers Pvt Ltd, which undertook several high-profile projects in Bandra, Khar, and Santacruz.
What is the significance of the 81 Aureate project in Bandra West?
The 81 Aureate project in Bandra West is a luxury residential complex that has been associated with Baba Siddique. It has 81 units, some of which are owned by celebrities. The project faced controversy when the Enforcement Directorate (ED) raided and attached 33 high-end apartments, alleging money laundering.
What were some of the controversies surrounding Baba Siddique?
Siddique faced numerous allegations, including questionable land deals, peddling political power, and acting as an enabler between various interests. He was also involved in a money laundering case related to the 81 Aureate project, though the case eventually collapsed.
What was Baba Siddique's net worth according to his 2019 election affidavit?
According to his 2019 election affidavit, Baba Siddique had assets worth Rs 76 crore and liabilities amounting to Rs 23 crore. His assets included cash holdings, bank deposits, and property.
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