November 25, 2024 09:30 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Maharashtra Elections: Mahayuti's newly-elected MLAs to select CM in key meeting on Monday | Mahayuti routs MVA in Maharashtra, INDIA retains Jharkhand; Priyanka's triumphant poll debut | How can Mahayuti win over 200 seats? Sanjay Raut cries foul over Maharashtra mandate | 'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024
After 15 yrs of failed attempts, Mumbai's Dharavi slum area to be redeveloped by Adani Group
Daharavi | Adani Grp
Image Credit: YGLvoices - Flickr, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=17772165

After 15 yrs of failed attempts, Mumbai's Dharavi slum area to be redeveloped by Adani Group

| @indiablooms | 30 Nov 2022, 12:32 am

Mumbai: Adani Group bagged the bid for the redevelopment of Mumbai’s Dharavi area, one of the largest slum clusters in Asia, outbidding DLF, a Moneycontrol report said Tuesday.

The financial bids for the redevelopment project were opened on Tuesday, November 29.

Three bids were received from–Adani Realty, DLF and Naman Group, but only two were opened as Naman Group did not qualify in the technical bidding, said SVR Srinivas, Chief Executive Office of Dharavi Redevelopment Project, according to the Moneycontrol report.

The bid by Adani Group was for Rs 5,069 crore and DLF was Rs 2,025 crore, he said.

“We will now further go with the approval from the state government and also form a special purpose vehicle (SPV) for the redevelopment of Dharavi,” he was quoted as saying in the report.

This also paves the way for the redevelopment of Dharavi, after at least four failed attempts in the last 15 years.

The Maharashtra government has set a deadline of 17 years to complete the redevelopment and aims to rehabilitate the estimated 1 million population living in the slum in the next seven years.

The state government floated a global tender for the redevelopment and rehabilitation of Dharavi that spreads across an area of 300 acres.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.