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Adani Group will commence redevelopment of Dharavi with a Rs. 12,500 crore investment

According to two Adani Group officials, Dharavi, Asia's largest slum in Mumbai, is being considered for a reconstruction initiative with an investment of at least Rs. 12,000 crore by the Adani Group under the Adani Dharavi project. On July 14, the Maharashtra government gave the company permission to reconstruct the highly inhabited Dharavi slum, which comprises a sizeable 590-acre region packed with uneven constructions, insecure tenements, and crumbling buildings.

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Adani Group will commence redevelopment of Dharavi with a Rs. 12,500 crore investment

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  1. Adani Group will commence redevelopment of Dharavi with a Rs. 12,500 crore investment

  2. According to two Adani Group officials, Dharavi, Asia's largest slum in Mumbai, is being considered for a reconstruction initiative with an investment of at least Rs. 12,000 crore by the Adani Group under the Adani Dharavi project. On July 14, the Maharashtra government gave the company permission to reconstruct the highly inhabited Dharavi slum, which comprises a sizeable 590-acre region packed with uneven constructions, insecure tenements, and crumbling buildings. This area has over 900,000 individuals and countless small business companies. The Adani Group, led by businessman Gautam Adani, was the highest bidder for the 259-hectare Dharavi Redevelopment Project in the 2022 procurement process, with a Rs.5,069-crore bid. The Maharashtra government filed its affidavit in response to a high court lawsuit from the UAE-based SecLink Technologies Corporation, which challenged the government's decision to award the project to Adani Properties Private Limited.

  3. Under the Adani Dharavi project, Dharavi would be transformed into new flats, workplaces, and malls The Maharashtra government permitted the Adani Group to begin construction on the 590-acre slum near Mumbai in July. This highly populated neighbourhood has around 900,000 individuals and several small enterprises. The massive Adani Dharavi project aims to turn Dharavi into contemporary apartments, business buildings, and retail complexes. The project also includes the development of a Metro rail line that will connect Dharavi to other sections of Mumbai. This includes a station near "T Junction" connecting Nariman Point, the Bandra Kurla Complex (BKC), and Mumbai International Airport. A new road will also connect Dharavi to the Bandra-Worli Sea Link, further improving connectivity. The seven-year reconstruction project will cost between $4 billion and $5 billion. Before the project begins, around Rs.12,500 crore would be put into the SPV to initiate construction and logistics activities. A survey to establish ownership of slum structures is also ongoing.

  4. Slum inhabitants relocation as part of the Adani Dharavi Redevelopment Plan The government is conducting an authentication survey to check the legitimacy of ownership in the slum buildings and an internal review process for extra financial requirements for the project, which will be finished by December 31, 2023. As part of the Adani Dharavi Redevelopment Plan, slum inhabitants would be relocated to transit tenements on a 90-acre railway site near the Dadar-Matunga district and another 6.91 hectares of property around Dharavi. Following these steps, the master plan for project implementation will be authorised jointly (by the state government, MMRDA, and the Adani Group), and the first tranche of further funds may be injected in April-June 2024. Construction of a Metro rail project with a station (near 'T Junction') linking Dharavi to the rest of Mumbai via Mumbai Metro Line-III, heading to Nariman Point, is part of the transformation effort. The Metro line from Dharavi will connect the business sector Bandra Kurla Complex (BKC) with the Mumbai International Airport.

  5. Aspects of the Dharavi Redevelopment Project Dharavi's transformation involves the following aspects: Housing: The project will give new dwellings to qualified Dharavi people living in cramped and unsanitary circumstances. The new homes will include 350 square feet of carpet area and amenities like water, electricity, sewage and gas connections. The project will also provide low-income groups with inexpensive housing alternatives and rental homes for migratory workers. Commercial: The project will develop Dharavi into a commercial hub, complete with offices, malls, hotels, and entertainment zones. The initiative would also provide contemporary facilities and infrastructure to small-scale enterprises and informal companies in Dharavi, including leather, pottery, recycling, and garment manufacturing. The project will also create jobs for the local community and attract investments from domestic and foreign industries.

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