Mumbai: The Adani Group Tuesday won the bid for the long-delayed Dharavi redevelopment project, one of the largest slum clusters in Mumbai.
Adani Group Wins Dharavi Redevelopment Project With INR 5,069 Crores bid. Dharavi is one of the densely populated areas not just in Mumbai but around the world. It is home close to 58,000 families and 12,000 commercial establishments. The total cost of the project is 20,000 Crores.
The Adani group has won the bid for the longest delayed Dharavi redevelopment project by putting Rs 5,069 crores bid. The project is to redevelop the largest slum or transform the largest slum in Mumbai.
The Maharashtra government decided to redevelop Dharavi as an integrated planned township, and the implementation of Dharavi redevelopment was approved. This is Asia’s largest slum which is to be developed by using land resources to subsidize the cost.
Furthermore, the government has also decided to announce Dharavi as an undeveloped area and to appoint SPA, a Special Planning Authority for its new planning, development, and implementation of the area. Hence, this project will rehabilitate the existing 6.5 lakh, slum dwellers, in seven years, and now as Adani group has won this project, so they are able to sell residential and commercial space in the area.
The Dharavi redevelopment project has been on hold for two decades. Dharavi is considered one of the largest slums in the world, and for its redevelopment, it requires a massive investment of money.
The Adani group has given the quote for Rs 5,069 crore for this project, and Rs 2,025 crore was quoted by the DLF group. Previously, The Adani Group lost a bid for the project in January 2019.