1 / 5

Adani Signs a Vital Joint Venture for the Dharavi Redevelopment Project

Adani Properties received approval from the Maharashtra state government in July for the Adani Dharavi project, which aims to jointly redevelop Dharavi, Mumbaiu2019s slum region, one of Asiau2019s largest, that was featured in the award-winning film Slumdog Millionaire.

Adani1
Download Presentation

Adani Signs a Vital Joint Venture for the Dharavi Redevelopment Project

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Adani Signs a Vital Joint Venture for the Dharavi Redevelopment Project

  2. The Adani Dharavi project is a significant step in redeveloping one of Asia’s largest slums, and it can potentially transform the lives of thousands of people. Under the Adani Dharavi project, Indian billionaire Gautam Adani’s property firm (Adani Realty) has created a joint venture with Mumbai’s slum rehabilitation authority, a critical step towards reconstructing one of Asia’s largest slums. This project will be a critical step in redeveloping Dharavi, which has recently been in the spotlight for several issues including legal. Dharavi is home to around 10 lakh people, yet development has been delayed for years. The project is projected to run around Rs 23,000 crore. Through worldwide tendering, it will be one of India’s largest redevelopments by a government body.

  3. The Gautam Adani Group Won the Adani Dharavi Redevelopment Project in July After Bidding $610 Million Adani Properties received approval from the Maharashtra state government in July for the Adani Dharavi project, which aims to jointly redevelop Dharavi, Mumbai’s slum region, one of Asia’s largest, that was featured in the award-winning film Slumdog Millionaire. In 2022, Adani Group’s $610 million proposal was chosen over a rival offer from DLF, managed by property tycoon Kushal Pal Singh. Adani Properties owns an 80% stake in the public-private collaboration to develop a 240-hectare land into a mixed-use urban hub. The project costs around 230 billion rupees and takes approximately seven years to complete. Still, it is being challenged in court by Dubai-based SecLink Technologies, which claims that its 2018 proposal was unlawfully canceled to accommodate Adani Group.

  4. Areas that the Adani Dharavi Project is Targeting Since 1997, several initiatives have been taken to reconstruct Dharavi like old Hong Kong slums, such as Tai Hang. The renovation cost was expected to be 5,000 crores (US$630 million) in 2004. Companies worldwide have sought to reconstruct Dharavi, including Lehman Brothers, Limitless in Dubai, and CapitaLand Ltd. in Singapore. Redevelopment was anticipated to cost 15,000 crores (US$1.9 billion) in 2010. Mukesh Mehta, an American-trained architect, oversees the most recent urban rehabilitation plan for the Dharavi region. The project includes:

  5. Building houses, schools, parks, and roads totalling 2,800,000 square meters (30,000,000 square feet). • Building 3,700,000 square meters (40,000,000 square feet) of residential and commercial space for sale. • The Adani Dharavi project would begin with directly relocating beneficiaries to hutments built on 45-47 acres of railway property. They will not be put in temporary housing throughout the building phase, as in the past similar slum rehab programs. While specifics are being worked out, winning bidders are often permitted to construct residences and commercial buildings for sale on the open market in place of rehabilitation projects. • The Dharavi project has a floor-space index of four, which allows for additional skyscrapers to be built closer together.

More Related