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    Home - Business - A Politician Turned Real Estate Tycoon: Baba Siddique
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    A Politician Turned Real Estate Tycoon: Baba Siddique

    By Bharti ChauhanNo Comments3 Mins ReadOctober 17, 2024
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    A Politician Turned Real Estate Tycoon: Baba Siddique
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    Baba Siddique, who was fatally murdered on October 12, began his career as a Bandra corporator in 1995. Four years later, he was elected to the Maharashtra Legislative Assembly for the first time as a Congress candidate. Siddique ascended through the Maharashtra government’s ranks to become Minister of State for Food and Civil Supplies and Labour after a three-decade political career.

    For years, his claim to fame was hosting extravagant Iftar parties for celebrities like as Salman Khan, Shahrukh Khan, Shilpa Shetty and her spouse Raj Kundra, Sonu Sood, and Katrina Kaif, among others. Siddique, the politician, was alleged to have deep ties to Bollywood and the affluent but occasionally murky real estate market.

    It was his involvement in the thriving Mumbai real estate industry that catapulted him to new heights. Siddique’s career began in 1998 when the Maharashtra government implemented an ambitious slum restoration project. The initiative sought to give free housing to qualifying slum families. It also provides real estate developers with unparalleled access to some of Mumbai’s most desirable sites. The regulation permitted developers to use some of the property for commercial and luxury residential buildings.

    This slum restoration initiative served as the cornerstone for Siddique’s real estate business. He collaborated with the Wadhawans of Dewan Housing on one of their earliest projects, which was the reconstruction of the Daulat Nagar slum in Santacruz, Mumbai. The Wadhawans later ran afoul of the law and were accused of causing a major debt default.

    Siddique’s grasp of the system, proximity to politicians of all stripes, and influence in the corridors of Brihanmumbai Municipal Corporation offices made him a larger-than-life figure in real estate transactions in Bandra, Khar, and Santacruz. Baba Siddique had previously been elected as a corporator in 1995, and in 1999 he was elected to the Maharashtra Assembly on the Congress platform.

    A Politician Turned Real Estate Tycoon: Baba Siddique

    Siddique expanded his involvement in the real estate market in 2004 when he founded Zears Developers Pvt Ltd. This was followed by a series of developments in the Bandra region. One of the earliest was Link Square Mall, located on the popular Linking Road. Other high-profile developments were Shiv-Asthan Heights on 16th Road and Maqba Heights in Pali Naka. A segment of Siddique’s extended family is claimed to live on multiple storeys in this building.

    Siddiqui last ran for office as a Congress candidate in Bandra West in 2019, but lost to Ashish Shelar of the BJP. According to his poll affidavit, he had Rs 76 crore in assets and Rs 23 crore in liabilities at the time. His assets comprised Rs 87,000 cash and Rs 42 lakh in bank accounts. His immovable assets or property were worth roughly Rs 23 crore.

    However, according to the real estate sector, this was only the tip of the iceberg, with Siddiqui’s riches and power extending outside. 81 Aureate in Bandra West is an example of the luxury he was known for. The upscale property accommodates 81 households and is believed to include patrons like stars Arjun Kapoor, Sonakshi Sinha, and Malaika Arora.

    When the Enforcement Directorate searched and attached 33 high-end properties in 81 Aureate, it made headlines for all the wrong reasons. The ED accused Siddique of money laundering. The case eventually crumbled. This wasn’t the only controversy involving Siddique. There have been charges that he was involved in dubious property dealings, peddled political influence and currying favours, and acted as a facilitator for numerous interests. However, none of those allegations were upheld, granting him a state funeral following his death.

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