Nita Ambani’s 15,000 crore Antilia built on land donated to…? Ambanis only obtained land, with its original value of Rs…
With the WAQF (Amendment) coming into force earlier this month, Antilia is again under legal and political scrutiny.
Antilia, the luxurious 27-story residence of Mukesh Ambani and Nita Ambani, is one of the most expensive private residences in the world, worth Rs 1.5 crore. Under its grandeur, however, a story stems from charities, community welfare and some controversy. With the WAQF (Amendment) coming into force earlier this month, Antilia is again under legal and political scrutiny.
The land where Antilia is now located was originally donated in 1895 by wealthy shipowner and philanthropist Kareem Bhai Ibrahim to establish Currimbhoy Ebrahim Khoja Yateemkhana, an orphanage that provides shelter and education to the Khoja community. By 1986, the charity had been managed under the leadership of the WAQF Board of Directors.
In 2002, a trust fund that manages the orphanage seeks to allow the sale of land. Although its estimated market value of Rs 150 crore (US$18 million) was sold to Antilia Commercial Private Limited, which is associated with Mukesh Ambani, for only Rs 210.5 crore (US$2.5 million).
Local politicians and activists opposed the sale of land and believed that such transfers violated the principles of WAQF property management. Allegations of violations and mismanagement were filed, and critics pointed out that the deal contradicted the original intention of Kareem Bhai’s donation. Despite these objections, the construction of Antilia began and by 2010 it had become a towering symbol of luxury.
