Adani Group Wins Bid for Dharavi Redevelopment Project

The project is expected to cost around Rs 23000 Cr
Adani Group Wins Bid for Dharavi Redevelopment Project

MUMBAI: Dharavi, known to be one of the largest slums in the world is soon to be developed as the Adani Group wins the redevelopment bid. This is the first positive step towards the locality's development after almost two decades of playing and roadblocks. The new Maharastra Government had ordered the reopening of the tendering process after coming to power after the previous government had scraped the process over land acquisition with the railway department.

Located on the edge of the island city, it was one of the original six settlements of the fishing communities that settled in the region. Gradually a lot of people from different regions came and established themselves in and around the region which has now grown into a bustling metropolis and the world's largest slum near it.

According to reports, the idea to develop the locality was introduced by Mukhesh Mehta, an architect by profession, as early as 1997. But the whole process started about five years later and a plan to develop the region was passed in 2004 by the state government at that time. As per the plan, the developer will retain a part of the land to cross-subsidise to external buyers. The state also declared it as an undeveloped area and allowed the creation of a separate development authority for the region.

While the real estate team from the Adani Group put in a quote of Rs 5069 Cr in its bid for the Dharavi Redevelopment Project. While DLF Ltd. made an offer of Rs 2025 Cr and the Naman Group did not qualify for the technical bidding. The project is expected to cost around Rs 23000 Cr, making it one of the biggest development projects by any government agency in the country.

The construction and renovation project when proceeded with will allow the construction of housing services for the eligible people living in the location. These will be equipped with all necessary amenities and infrastructures as mentioned in the bidding process.

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