Baba Siddique, a prominent figure in Mumbai's political and real estate landscape, was shot dead on October 12. His journey began in 1995 as a corporator from Bandra, and just four years later, he made his mark by being elected to the Maharashtra Legislative Assembly as a Congress candidate. Over a political career that spanned three decades, Siddique ascended to the role of Minister of State for Food and Civil Supplies and Labour in the Maharashtra government.
Known for hosting extravagant Iftar parties attended by celebrities like Salman Khan, Shahrukh Khan, and Katrina Kaif, Siddique's connections to Bollywood and the upper echelons of society were a significant aspect of his public persona. However, it was his ventures in Mumbai's dynamic real estate market that truly defined his legacy.
Siddique's ascent in real estate began with the Maharashtra government's slum rehabilitation policy introduced in 1998. This ambitious initiative aimed to provide free housing for eligible slum families while granting developers unprecedented access to prime locations across Mumbai. Developers were permitted to use a portion of the land for commercial and luxury residential projects, setting the stage for Siddique's burgeoning real estate empire.
Partnering with the Wadhawans of Dewan Housing, one of their first projects involved redeveloping the Daulat Nagar slum in Santacruz, Mumbai. However, the Wadhawans later faced legal troubles, linked to a significant loan default. Siddique's adept understanding of the political landscape, along with his connections within the Brihanmumbai Municipal Corporation (BMC), established him as a formidable player in real estate dealings in Bandra, Khar, and Santacruz.
Having entered politics as a corporator in 1995 and winning a seat in the Maharashtra Assembly in 1999, Siddique deepened his ties to real estate in 2004 by founding Zears Developers Pvt Ltd. This marked the beginning of several high-profile projects in the Bandra area, including the Link Square Mall and luxury residential buildings like Shiv-Asthan Heights and Maqba Heights. His family is rumored to reside in several units within these properties.
Siddique last ran for office in 2019 as a Congress candidate from Bandra West but lost to BJP's Ashish Shelar. His election affidavit revealed assets totaling Rs 76 crore and liabilities of Rs 23 crore, with cash holdings of Rs 87,000 and bank deposits of Rs 42 lakh. Despite these figures, whispers in the real estate community suggested that Siddique's true wealth was significantly understated, with influences extending beyond India's borders.
A notable luxury project associated with him was 81 Aureate in Bandra West, home to only 81 families, including Bollywood stars like Arjun Kapoor and Sonakshi Sinha. The project drew attention when the Enforcement Directorate (ED) raided and attached 33 high-end apartments, alleging Siddique's involvement in money laundering. However, the case ultimately fell apart, leaving his reputation intact.
Siddique's life was not without controversy, facing accusations of questionable land deals and political manipulation. Despite these allegations, he managed to evade serious repercussions, culminating in a state funeral following his death—a testament to his complex legacy and influence within Mumbai's socio-political and real estate spheres.
Comments