Adani Group won Dharavi redevelopment project bids

Adani Group won Dharavi redevelopment project bids

The Adani Group has got the bid for the long-delayed Dharavi redevelopment project at around Rs.5,069 crore. The redevelopment project proposes to transform a huge slum cluster that is located on prime commercial land in Mumbai, Maharashtra.

As per the official information received from the Dharavi Redevelopment Project authority, the Adani group wins the bid for quotation of Rs 5,069 crore for this project, followed by Rs 2,025 crore quoted by the DLF group.

Delayed project bids:

The Dharavi redevelopment project has been cohered for almost two decades. Dharavi is one of the largest slums in the world and sitting on real estate gold. Its redevelopment will take a massive investment of money upfront, amid tricky complications of land acquisition and rehabilitation.

The Adani Group had lost a bid for the project in January 2019.

What is the Dharavi redevelopment project?

Dharavi one of the world’s largest slum areas situated at India’s richest business district called the Bandra-Kurla Complex. Here commercial office premiums are among the highest in the country.

The slum sprawl, spread over 2.8 sqkm which had envisaged to be transformed into a cluster of high-rises with improved urban infrastructure by the state government. It implicated resettling 68,000 people, including slum dwellers and those with commercial establishments.

The state has been to provide 300-sqft houses for free to residents with proof that their slum structure was in existence before January 1, 2000, and for a price to those who settled in Dharavi between 2000 and 2011.

Re-inviting bids for the project:

By 2020, the Maharashtra government had changed, and in October of that year, after the government had been changed again with Eknath Shinde taking over as CM, the issue of land transfer from the Centre was considered to have been resolved, and fresh tenders were invited.

Question & Answer:

Q1. Which group won the bids for the redevelopment project of Dharavi?

Ans. Adani Group

Q2. Where the slum area of Dharavi is located?

Ans. In Mumbai, Maharashtra

Q3. For how much amount the Adani group won the bid for Dharavi Redevelopment Project?

Ans. Rs.5,069 Crore

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