Adani group has won the Dharavi redevelopment project with a bidding amount of 5,069 crores outbidding DLF which quoted the amount of 2,025 crores said SVR Srinivas Chief executive officer of the project.
Adani has put a large sum of money into the redevelopment project or saying it is the makeover of one of the largest slums in Asia and to provide free housing.
For the redevelopment project of Dharavi, three companies applied. They were Adani properties which is a part of the Adani Group, DLF, and Naman Group.
“We got 3 bids of which we opened 2 financial bids of Adani and DLF as Naman Group did not qualify in the technical bidding. The bid by Adani Group was for Rs 5,069 crore and DLF was Rs 2,025 crore. and We'll now further go with the approval from the state government and form a special purpose vehicle (SPV) for the redevelopment of Dharavi.” stated SVR Srinivas, Chief Executive Office of Dharavi Redevelopment Project.
In this project around 8 companies had shown their interest which included a few foreign companies like Companies from UAE and South Korea.
In the past 15 years, several attempts were made to makeover of Dharavi. But now finally the project is happening.
The government of Maharashtra hopes to complete the project in the next 17 years with rehabilitation in the next 7 years from the date of issuance and commencement certificate of phase one.
Rehabilitation will be based on free housing for eligible people.
Now further details of the project will be forwarded to the state government. They will monitor the project plan, finalize it, and give approval to the project.
As Dharavi is located at the heart of the city it is expected to cause benefits to businesses through this project.
Dharavi is located at central Mumbai close to the commercial hub of Bandra Kurla Complex and South Mumbai. This place is a hub for small businesses and unorganized industries which are known for the manufacture of medicines, leathers, footwear, clothing, and many more. Dharavi spread is across 300 acres with a population of 1 million.
