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The Iranian Zoroastrian Anjuman charitable trust has engaged international property consult Knight Frank to sell its land holdings in Mumbai that sum up to 960 odd acres of land located in the Palghar area of the Mumbai Metropolitan Region. The original landowner Mr Jamshed Khodaram Irani donated more than 2,300 acres to the Charitable Trust in 1928. Since then, several portions of the land were taken back by the government for several purposes, leaving behind only 963 acres. With the sale of the plot, the Trust hopes to use the money to continue its charitable activities in the area to help locals and individuals belonging to the Pari Zoroastrain Community.
The Iranian Zoroastrian Anjuman charitable trust has engaged international property consult Knight Frank to sell its land holdings in Mumbai that sum up to 960 odd acres of land located in the Palghar area of the Mumbai Metropolitan Region. The original landowner Mr Jamshed Khodaram Irani donated more than 2,300 acres to the Charitable Trust in 1928. Since then, several portions of the land were taken back by the government for several purposes, leaving behind only 963 acres.
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Knight Frank is a reputed property consultant that has undertaken and successfully executed several high value transactions in Mumbai. The company has valued the land at approximately Rs. 1,100 crores. Marketing activities have already begun to push for a sale. Knight Frank is offering to sell the entire land parcel to a buyer to potentially develop a township. The trust took a decision to sell the land parcel owing to constant fear of encroachment. The Trust was earning approximately Rs 22 lacs per month from this land parcel by selling grass that grew on it. The income was shared with locals. With the sale of the plot, the Trust hopes to use the money to continue its charitable activities in the area to help locals and individuals belonging to the Pari Zoroastrain Community.
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