The Maharashtra government has given its final approval for the appointment of Adani Properties to undertake the ambitious redevelopment project of Dharavi, the largest slum cluster in Asia located in Central Mumbai.
Adani To Redevelop Dharavi, the Largest Slum in Asia
The decision comes after the financial bids were opened on November 29, with Adani Realty, DLF, and Naman Group competing for the project. With an estimated value exceeding Rs 20,000 crore, the Dharavi redevelopment project aims to transform the slum into a modern and sustainable urban area.
The Maharashtra government intends to complete the project within the next 17 years, with the rehabilitation of slum dwellers expected to be carried out over a period of seven years.
The official approval for Adani Properties’ appointment was granted in a government resolution (GR) dated July 13, 2023, by the Maharashtra Housing Department. This marks a significant milestone in the long-standing endeavor to revitalize Dharavi, which has faced multiple failed attempts at redevelopment over the past 15 years.
Spread across 300 acres, Dharavi is renowned for its vibrant and diverse community as well as its thriving small-scale, unorganized industries involved in manufacturing medicines, leather goods, footwear, and clothing. It is situated in close proximity to prominent commercial areas like the Bandra Kurla Complex and south Mumbai.
Selection of Adani For Dharavi Redevelopment
Dharavi is home to an estimated population of around one million people, making it one of the most densely populated slums in the world. The area faced considerable challenges during the COVID-19 pandemic, highlighting the urgent need for comprehensive redevelopment that prioritizes the well-being and living conditions of its residents.
The selection of Adani Properties as the developer for the Dharavi project was based on the highest initial investment pledge. The company’s expertise in infrastructure and real estate development positions it to lead the transformation of Dharavi into a modern, inclusive, and sustainable urban neighborhood.
The redevelopment of Dharavi holds immense potential for improving the lives of its residents and creating a model for sustainable urban development. It is a significant step towards addressing the pressing issue of slums in urban areas, providing better housing, infrastructure, and socio-economic opportunities for the community.
As the project unfolds over the coming years, it will be closely watched as a benchmark for successful slum redevelopment initiatives in India and beyond.
