The government of Maharashtra had floated fresh global tenders for the much-delayed Dharavi Redevelopment Project. Adani Properties, DLF and Shree Naman developers had bid for the right to develop Asia’s biggest slum Dharavi. Dharavi is spread over 600 acres of prime property in the heart of Mumbai, the commercial capital of India.
“Adani Properties” bid of Rs 5069 crore emerged as the highest, while DLF bid amount was Rs 2025 crore and Naman developers did not qualify in the technical round. The government is looking at developing this project as a joint entity wherein the selected lead partner holds 80% equity ie. 400 crores and state government will hold 20% equity ie. 100 crores.
The joint entity will be responsible for the construction of free housing to eligible slum dwellers. The project is expected to be completed within 7 years from date of issuance of commencement certificate. When completed this project will transform the face of Mumbai by giving the slum dwellers an opportunity to live a better life with better infrastructure and resources.
