How Baba Siddique became Mumbai’s real estate tycoon

Former Maharashtra minister and Ajit Pawar-led NCP leader Baba Siddique, who was killed on October 12, began his career as a corporator from Bandra in 1995. Four years later, he was elected as an MLA for the first time on a Congress ticket.
Baba Siddique was shot dead by three gunman in Mumbai’s Nirmal Nagar area, just outside his MLA son Zeeshan Siddique’s office.
His election affidavit from 2014 reported assets of around Rs 76 crore. Since then, his wealth is likely to have increased significantly. In 2009, his assets were around Rs 23 crore, doubling by 2014. Siddique did not contest the 2019 elections. His son, Congress MLA Zeeshan Siddique, reported assets of Rs 9 crore that year.
Siddique began his political career in the Brihanmumbai Municipal Corporation (BMC) in 1995 and became an MLA for Bandra in 1999. Bandra’s real estate market grew during this period, making it a desirable location for many in the city. He gained insights into real estate through his BMC experience.
In 2004, he founded Zears Developers Pvt Ltd, with one of his first major projects being the Link Square mall on Linking Road in Bandra. He also redeveloped a plot on 16th Road into Shiv-Asthan Heights and constructed Maqba Heights near Pali Naka, where his family resides. Another notable project he worked on was Vertical Bliss at Almeida Park.
In 2017, the Enforcement Directorate (ED) seized 33 flats linked to Siddique in a money laundering case valued at around Rs 400 crore. However, the case was eventually closed after police filed a summary report.
Siddique was known for hosting over-the-top iftar parties and had connections with Bollywood stars, especially Salman Khan.
Since 2019, Siddique has had to balance his roles as a businessman and a public figure, particularly as Zeeshan was elected as MLA from Bandra East. Two redevelopment projects that both Siddique and his son have protested against have gained attention. Sources indicated that Siddique wasn’t against the project but was advocating for transparency and keeping residents informed.
The two slum redevelopment projects in question are Sant Dnyaneshwar Nagar and Bharat Nagar in the Bandra Kurla Complex (BKC), a prime area of Mumbai. The cost per square meter for built-up space in BKC is around Rs 3.4 lakh for commercial properties and Rs 3.5 lakh for residential.
The plan for Sant Dnyaneshwar Nagar, a 10-acre site housing 5,500 families, includes developing a luxury hotel, commercial spaces, and premium housing, with provisions to rehabilitate slum residents. In August, Zeeshan was booked for obstructing government officials from surveying the slum area.