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Adani Group wins bid for Dharavi redevelopment project

Adani Realty, the real estate wing of Adani Group, has quoted Rs 5,069 crore for the makeover of Asia's biggest slum cluster. The Maharashtra government aims to complete the project in 17 years.

A Special Committee for overlooking Dharavi redevelopment project will be formed. (Express file photos)

The Adani Group Tuesday won the bid for the much-awaited Dharavi redevelopment project, one of the largest slum clusters in Mumbai.

The makeover of Asia’s biggest slum cluster will be done by Adani Realty, the real estate wing of Adani Group.

Confirming the development, SVR Srinivas, Chief Executive Officer of the Dharavi Redevelopment Project, told The Indian Express that the Adani Group has quoted the highest amount of Rs 5,069 crore for the project followed by Rs 2,025 crore quoted by the DLF Group. “There were three bidders in total. However, only Adani and DLF remained in the race in the final bidding since the other bidder, Naman Group did not qualify for the technical bid,” Srinivas said.

A view of Dharavi from a skywalk. (Express file photo by Nirmal Harindran)

Srinivas said that his office would approach the state government for the next step to be taken and would form a special committee to oversee the project.

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The Maharashtra government aims to complete the slum redevelopment project in 17 years and complete the rehabilitation exercise in the next seven years.

Adani Realty has emerged successful as the winner for the proposed Rs 20,000-crore Dharavi redevelopment project is decided on the basis of the highest initial investment the bidder can do, Srinivas said.

Spread over 2.8 sqkm, the slum area is home to an informal leather and pottery industry that employs over one lakh people. The state had envisaged this sprawl be transformed into a cluster of high-rises with improved urban infrastructure. It entailed resettling 68,000 people, including slum dwellers and those with commercial establishments.

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In October the newly formed Maharashtra government led by Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis cleared the decks for inviting fresh tenders for the project. The erstwhile Maha Vikas Aghadi government led by former CM Uddhav Thackeray had cancelled the bid citing railway land acquisition issues.

Interestingly, during the previous BJP-Shiv Sena coalition government led by the then CM Devendra Fadnavis in January 2019 floated fresh tender for Dharavi redevelopment wherein Adani Realty had turned out to be the second bidder. UAE-based Seclink had become the first bidder. However, the bids were scrapped over various issues.

First published on: 29-11-2022 at 17:06 IST
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