(Image source from: Lokmat.com)
Finally, the day for Dharavi, Asia’s largest slum redevelopment project is on. Maharashtra government has given its final approval for the much-awaited project of Dharavi redevelopment, which was spread over 600 acres in the prime area of Mumbai (Which is literally the heart of Mumbai), India’s commercial capital.
In 2022, Adani was the highest bidder for the redevelopment of the slum and Adani properties finally got a government resolution on June 13th 2023 to transform the biggest slum. With an initial investment of Rs 5,069 Cr against a base price of Rs 1,600 Cr. 56,000 families will be rehabilitated and the project is estimated the cost Rs 23,000 Cr.
The public who are settled over there with commercial enterprises will be resettled. The project is expected to be completed in seven years from the date of commencement.
Three bidders competed for the project, DLF Ltd made an offer of Rs 2,025 Cr, Adani Group real estate offered Rs 5,069 Cr and the Naman Group's bid was disqualified in technical bidding. This is the fourth high-end project of Adani real estate developers followed by Ghatkopar, Western suburbs and one in central Mumbai.
