Adani Group Update: Gautam Adani’s real estate company Adani Realty has won the bid to redevelop the Dharavi Slum located in prime land of the country’s commercial capital Mumbai. The slum of Dharavi is counted among the largest slums in Asia. Adani Realty has won the Dharani Redevelopment Project by bidding Rs 5069 crore, leaving behind a leading real estate company like DLF.
In the month of October, the Maharashtra government had issued a new global tender for the redevelopment project of Dharavi. In which apart from Adani Realty, DLF and Mumbai’s Shree Naman Developers had bid to get the project. Including global companies, a total of 8 companies had bid to get the project.
SVR Srinivas, CEO of Dharavi Redevelopment Project, told that Adani made the highest bid of Rs 5069 crore. While DLF had bid Rs 2025 crore. He told that due to technical reasons the bid of Shree Naman Developers was not opened. Now Adani’s bid will be sent to the committee of state secretaries.
The Maharashtra government wants to redevelop the Dharavi slum area in partnership with a company. In which the lead partner will have 80 percent equity with Rs 400 crore, while the state government will have 20 percent equity. The development of this project will benefit the slum dwellers as well as help in improving the city of Mumbai.
Under the Dharavi Redevelopment Project, eligible people will be given free houses for the slum dwellers of Dharavi, which will have all kinds of facilities. After the issuance of the Commencement Certificate for the project, the work of the first phase will be completed in seven years. It is believed that in 17 years this project will take time to complete. On completion of this project, 56000 people will be resettled. The people living in this slum will get a house of 405 square feet area.