34 years after the 1993 blasts, Tiger Memon’s Rs 400-crore Mumbai assets are finally going under the hammer

The Mumbai flats where the 1993 blasts were plotted are now headed for auction

Three decades after one of India’s deadliest terror attacks shook Mumbai, properties once owned by absconding 1993 serial blasts accused Tiger Memon and his family are finally set to go under the hammer.

Officials told PTI that the Smugglers and Foreign Exchange Manipulators (Forfeiture and Property) Act Authority (SAFEMA) has initiated the final stages of legal formalities to auction several seized assets belonging to the Memon family, including flats in Mahim’s Al Husseini building, where investigators say a key conspiracy meeting took place before the blasts that killed 257 people.

What’s being auctioned

Out of 17 properties identified by the special TADA court, the SAFEMA has already taken possession of eight, with valuation now underway. These include:

Three flats in Al Husseini building, Mahim, once home to Tiger Memon, his brothers, and their mother.

A flat in Bandra.

Two flats in Kapadia Nagar, Kurla.

Four shops in Manish Market, South Mumbai: jointly owned by Tiger Memon and co-conspirator Mohammad Dosa.

Authorities said these eight properties, seized soon after the blasts in 1993, were reopened in April this year for assessment after lying sealed for decades.

The auction process could begin by December or January, depending on how quickly the formalities are completed.

The high-value land in Vakola

One of the most prized assets in the Memon portfolio is a 10,000 sq m land parcel in Kole Kalyan, suburban Vakola, valued at around Rs 400 crore, according to officials.

However, the land is encroached upon and flanked by two buildings, complicating the process of taking physical possession. “The SAFEMA is in the process of securing this property as well as another one in Zaveri Bazar,” the official said.

What’s still in dispute

Not all of the Memon family’s properties are ready for sale.

Four remain locked in litigation, while five others are still being transferred to SAFEMA’s control. The shops in Manish Market, for instance, are under appeal against the TADA court’s handover order.

Only once these legal hurdles are cleared can the full list of Memon-linked assets be auctioned.

The Memon legacy

Tiger Memon, believed to be hiding in Pakistan, remains one of India’s most wanted fugitives. His brother Yakub Memon was executed in 2015 after being convicted for his role in the serial blasts conspiracy. Other family members received varying prison terms.

The 1993 Mumbai serial bombings, carried out on March 12, killed at least 257 people and injured hundreds more, marking one of India’s darkest days of terror.

The Al Husseini building, now again in the spotlight, was where one of the earliest planning meetings for the attacks reportedly took place.

As one official put it, “This process is long overdue. These properties have been lying sealed for more than 30 years. The auction will be a significant milestone.”