Wadia says Century does not own the entire 30-hectare Worli plant

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Wadia says Century does not own the entire 30-hectare Worli plant

“The representation/statement by Century is factually incorrect, unscrupulous, fraudulent, and deceitful, as the total land parcel owned by Century by City Survey, no 794 is only 20 acres and not 30 acres as misrepresentated by Century.

The statement claimed that Century was misleading and cheating the public at large. “The public at large is cautioned not to deal with or enter into any agreement with Century and/or its subsidiaries, for sale, transfer, and/or assignment of in any portion of the residential /commercial project (including Birla Niyaara) basis the above Misrepresentation and/or in contravention of Order dated 22nd December 2010 passed by the honourable Court of Small Causes at Bombay,” it said.

The land leased by Wadia is located next to a freehold property owned by the Birlas. Century Textile Mill was located on the premises and was operational until 2005 when the state granted permission for it to cease operations.

Real estate experts told Moneycontrol that the land is valued at Rs 150 crore per acre, which means that the said 10-acre land parcel would be valued at around Rs 1,500-1,800 crore with a development potential of up to Rs 15,000 crore.

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  • “In order to promote this project as well as brand Birla Estate, various advertisements/articles have been published and in such advertisement/articles Century’s spokesperson has represented that Century will be developing overall 30 acres of land parcel in Worli,” Wadia said in a public notice published in newspapers on Friday.

  • The Worli land parcel referred to in the said article consists of 20 acres of the freehold land owned by Century at City Survey no 794 and 10 acres of leasehold land owned by Mr Nusli Neville Wadia (as more particularly mentioned in Schedule 1 hereunder) at City Survey no 1/794 (Demised Premises) which is not available to Century for development,” the public notice said.

In its response, a spokesperson from Birla Estates said, “This is with reference to the wrong and malicious advertisement published in a leading Newspaper on 06/05/2022 with misinterpreted facts about Birla Niyaara [as the project has been named].

“We have always maintained that Birla Niyaara is part of an integrated 14-acre development. The same has been consistently maintained in all our communication across mediums, including advertisements/news articles/brochures, etc.

“Overall, Century Textiles and Industries Limited which independently and absolutely owns 30 Plus acres of land at Worli across several locations is planning to develop the same over a period of time after taking requisite approvals. “The land admeasuring approximately 10 acres bearing C.S. No 1/794 (the subject matter of the above-mentioned advertisement) does not form part of the aforesaid 30 plus acres of land and has no connection with the proposed development of 30 plus acres.”

According to a report published in Business Standard in 2013, over a century ago, Nowrosjee Wadia, the great-grandfather of Nusli Wadia, gave 10 acres of his Worli land to the Birla-owned Century Textiles. The mill land was given on a 999-year lease for a monthly rent of Rs 375. Nusli Wadia, who inherited the property in 1996, now wants it back. Wadia, as the sole executor of his father’s will and the administrator of the property, has stated in his suit before the small causes court that the Birlas had breached the lease deed conditions and must be evicted.