FE Dinshaw Charities & F E Dinshaw Trust looks to sell 20acres in Mumbai

Noted industrialist and administrator of F E Dinshaw Charities and F E Dinshaw Trust, Nusli Wadia has put up for sale approximately 20 acres of land in Malad, Mumbai valued at roughly Rs 100 crores. There three plots are presently encroached upon by slum dwellers. The entities are planning to sell the land parcels on an ‘as is where is basis’ thereby risking a serious devaluation of the property. The tender for sale was announced in early November and the set reserve price is said to be 25% of the ready reckoner rate according to land valuation experts.

F E Dinshaw was a Parsi solicitor-financer and landowner based in Mumbai who passed away in 1936. He left a will bequeathing all his property, collectively 1,500 acres into two undivided equal parts for his children. F E Dinshaw Estate was set up with his son Edulji’s share and F E Charitable Trust was set up with his daughter Bachoobai’s share. Nusli Wadia eventually became the administrator for F E Dinshaw Estate making him one of the largest private landowners in India. He is also currently on the board of trust for F E Charitable Trust.

In 1977, under the Urban Land Ceiling Act, the state of Maharashtra began tabulating land holdings. They began acquiring chunks of land from F E Dinshaw upon realising that he had in his possession over 1,500 acres of land. Portions of his land was given to the MHADA board and to the Nagari Nivara scheme for development of low costing housing. In the 1990s, the Trust teamed up with Raheja, a Mumbai based developer to develop land in Malad, Dindoshi and Kandivali. The Mindspace IT park in Malad, Goregaon Sports Club and BMC Malad reservoir are some of the structures built on land originally belonging to F E Dinshaw.

Next (Blackstone secures North India’s largest warehousing deal for 700cr)

FE Dinshaw Charities & F E Dinshaw Trust looks to sell 20acres in Mumbai

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