On 29th November 2022, the government of Maharashtra opened the financial bids for the redevelopment of the Dharavi slums located in Mumbai. The winner of the bid was to be decided based on the highest initial investment pledge. DLF Group quoted Rs 2,020 crores and Gautam Adani led Adani Realty quoted Rs 5,060 crores, ultimately winning the bid. The project is scheduled to be completed over 17 years. The redevelopment will be undertaken via a Joint Development Agreement with the state government and Adani Realty.
On 29th November 2022, the government of Maharashtra opened the financial bids for the redevelopment of the Dharavi slums located in Mumbai. The winner of the bid was to be decided based on the highest initial investment pledge. DLF Group quoted Rs 2,020 crores and Gautam Adani led Adani Realty quoted Rs 5,060 crores, ultimately winning the bid. The project is scheduled to be completed over 17 years. The redevelopment will be undertaken via a Joint Development Agreement with the state government and Adani Realty.
The government of Maharashtra has in the past tried several times to kickstart this project but failed owing to many reasons. In October this year the government floated a new tender offering several incentives to encourage private participation. The pre-bid meeting was attended by eight builders and eleven project management consultant (PMC) companies including entities from South Korea and UAE The three bids were finally submitted from Adani Realty, Shree Naman Group and DLF. Shree Naman Group failed to qualify during the technical bid and therefore did not attend the financial bid.
The mammoth redevelopment plan of Dharavi includes an integrated rehabilitation of residential, commercial, and industrial units across 240 hectares of land (Dharavi Notified Area and DRA) at an estimated cost of 23,000 crore rupees. It is projected around 58,000 slums dwellers legally reside in the slums and will be eligible for free housing. Phase 1 is projected is expected to be completed within 7 years of issuances of the commencement certificate.
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