1 / 6

Dharavi mega makeover Adani Group’s realty firm to execute Rs 20,000-crore project for Asia’s biggest slum cluster

Almost two decades after it was first proposed, the Dharavi redevelopment project in Mumbai is close to taking off, finally. The makeover of Asiau2019s biggest slum cluster will be done by Adani Realty, the real estate wing of Adani Group.<br><br>

Adani1
Download Presentation

Dharavi mega makeover Adani Group’s realty firm to execute Rs 20,000-crore project for Asia’s biggest slum cluster

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. Dharavi mega makeover: Adani Group’s realty firm to execute Rs 20,000-crore project for Asia’s biggest slum cluster Almost two decades after it was first proposed, the Dharavi redevelopment project in Mumbai is close to taking off, finally. The makeover of Asia’s biggest slum cluster will be done by Adani Realty, the real estate wing of Adani Group.

  2. The group quoted the highest amount of Rs 5,069 crore for the initial investment in the Rs 20,000 crore project, followed by Rs 2,025 crore of the DLF Group. The government’s stipulated minimum investment was Rs 1,600 crore. According to the bid criteria, the company will have to form a special purpose vehicle (SPV). Thereafter, 20% of this initial investment will have to be submitted before signing the development agreement and an additional 20% on submitting an integrated master plan.

  3. Dharavi stands on a slice of prime land in the heart of Mumbai and is just a stone’s throw from India’s richest business district, the Bandra-Kurla Complex, where commercial office premiums are among the highest in the country.

  4. Spread over 2.8 km, the slum sprawl is home to small businesses which employ over 100,000 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.

  5. This is the second attempt by the Adani Group for the project. It had, in 2018, put in a bid of Rs 4,529 crore but Dubai-based Seclink Technology Corporation had emerged as the highest bidder at Rs 7,200 crore. The bid process was later cancelled by the erstwhile Maha Vikas Aghadi government as transfer of railway land became a bone of contention between the Centre and the state government. In October.

  6. Attachments Original Link :- https://www.financialexpress.com/industry/dharavi-mega-makeover-adani-groups-realty-firm-to-execute-rs-20000-crore-project-for-asias-biggest-slum-cluster/2896013/ Source:- https://adani-group.com/dharavi-mega-makeover-adani-groups-realty-firm-to-execute-rs-20000-crore-project-for-asias-biggest-slum-cluster/

More Related