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Dr. Zakir Naik rose to fame as the sharp-tongued Islamic preacher who could quote the Bible, Quran, and Vedas with equal ease, building a global audience through Peace TV and the Islamic Research Foundation (IRF).

However, in India, the narrative shifted dramatically in 2016.

The man who once filled auditoriums left the country, was declared a proclaimed offender, and soon found himself at the centre of a massive financial crackdown.

Indian agencies claim Naik turned donations meant for religious outreach into a luxury real estate portfolio worth around ₹100 crore.

The Enforcement Directorate (ED) and National Investigation Agency (NIA) say he and the IRF controlled at least 37 high-end properties, mostly in Maharashtra, including 25 luxurious flats in Mumbai alone.

Between 2017 and 2019, authorities attached assets worth roughly ₹50.5 crore under the Prevention of Money Laundering Act (PMLA), alleging these were part of ₹193 crore in proceeds of crime.

The money, they say, came from unexplained sources in Dubai and was cleverly layered through family members and builders.

The raids made front-page news.

The attachments made headlines.

Then, almost nothing.

Seven years later, those properties remain locked in legal limbo, frozen but not confiscated, talked about but never auctioned.

This is the real story behind the preacher’s reported property empire.

The Prime Properties: Mazgaon, Mumbai And Beyond

Naik was born and raised in Mumbai’s Mazgaon area, Dockyard Road, near JJ Hospital and the old IRF office in Dongri.

That is precisely where many of his reported holdings are concentrated.

On 13 October 2018, a special NIA court attached a one-half undivided share in five specific Mazgaon properties after learning Naik was allegedly trying to sell them from abroad:

Shop No. A-103 (1,360 sq ft commercial unit) in Crystal Residency, Plot No. 65-A, C.S. No. 137, Mazgaon Division, Mumbai – 400010.
Flat B-1005 and Flat B-1006 in Jasmine Apartments, 65-B, Dockyard Road, Mazgaon.
Flat No. 1701 (649 sq ft) and Flat No. 1702 (942 sq ft) in Maria Heights, 16 Belvedere Road, Mazgaon.

Transaction records also showed roughly ₹13 crore invested in three additional Belvedere Road properties routed through family accounts.

In January 2019, the ED struck again, attaching fresh assets worth ₹16.40 crore (bringing the total attached value to ₹50.5 crore).

This round included:

9 flats in Fatima Heights and Aafiyah Heights, Mumbai, valued at over ₹13 crore, many in the names of his wife, Farhat Naik and son Mohammed Naik.
11 flats in the Engracia project, Pune.
Properties in the Bhandup project, Mumbai.

The overall attached immovable assets covered 10 residential flats, 3 godowns, 2 buildings, and land parcels across Mumbai and Pune.

The 2017 opening round had already frozen ₹18.37 crore in IRF-linked assets, including the Islamic International School building in Chennai.

The Allegations, And the Questions That Still Linger

The ED’s May 2019 charge sheet was direct: Naik had “no known legitimate source of income” yet moved over ₹49 crore from Dubai/UAE into Indian accounts.

Donations collected for dawah and welfare were allegedly diverted, layered through relatives and builders, and converted into high-end real estate.

Naik has never stayed quiet.

He calls the entire case politically motivated, insists the ED is fully aware of his legitimate businesses, and labels the probe a targeted witch-hunt against a Muslim scholar who openly critiques other religions and governments.

His supporters argue that the PMLA has become a blunt instrument, with notoriously low conviction rates and endless delays, and is used selectively against vocal critics.

The sting in the tale? Despite all the confident numbers and dramatic press statements in 2017–2019, the properties have remained in limbo.

In 2018, a PMLA tribunal even restrained the ED from taking physical possession of some assets.

The Bombay High Court kept the case alive, but as of 2026, there has been no final forfeiture or auction.

The latest notable development came in March 2025, when a PMLA court rejected a discharge plea by Naik’s alleged associate, Aamir Gazdar, citing “prima facie” evidence; however, the properties themselves have seen no fresh action.

Where Things Stand Today (April 2026)

No major new attachments or releases have been reported since 2019.

The attached assets remain frozen under ongoing PMLA proceedings. India continues to pursue Naik’s extradition from Malaysia, but he still operates from abroad, delivering lectures and maintaining his international profile.

The full list of 37 properties has never been made entirely public; only the key attached ones and the broad Mumbai/Pune/Solapur clusters are documented.

The Bigger Picture

This is not just a story about flats in Mazgaon or projects in Pune.

It is about the intersection of religious influence, foreign funding, and aggressive financial regulation in India.

Supporters see a respected preacher being hounded.

Critics see unexplained wealth and clever structuring.

The agencies say they followed the money.

Whatever your view, one fact is undeniable: those properties, once symbols of ambition, have become powerful symbols of a case that refuses to reach a clean, final verdict.

What do you think?

Is this genuine accountability or prolonged overreach?

Share your thoughts in the comments below.

Disclaimer

This article is based solely on official NIA court orders (2018), ED provisional attachment orders and charge sheets (2017–2019), and public records up to April 2026. All allegations remain unproven in a final court of law. Dr. Zakir Naik has denied every charge. For the latest legal status, refer directly to ED, NIA, or court sources.

Sources

NIA Court Order dated 13 October 2018
ED Provisional Attachment Orders (March 2017 & January 2019)
ED Charge Sheet (May 2019)
Court updates (including March 2025 PMLA ruling)
Coverage in The Hindu, Indian Express, India Today, Hindustan Times, and Times of India.