 "Adani Group invests Rs 2,000 crore in Dharavi redevelopment project")
The Adani Group has invested around Rs 2,000 crore in the Dharavi Redevelopment Project (DRP), the largest slum redevelopment initiative in Asia, spanning 640 acres in Mumbai, according to a report by The Financial Express (FE). The project is a joint venture between the Adani Group and the Maharashtra government, with the Adani Group acting as the lead partner responsible for constructing residential and commercial units.
SVR Srinivas, CEO of the Dharavi Redevelopment Authority, described the project as one of the most challenging in his career, while speaking to FE, referring to it as “the brownest of brownfield projects”. Despite the challenges, the project aims to complete the rehabilitation and begin relocating eligible families within the next two to two and a half years.
Dharavi redevelopment project progress
The Adani Group has already paid Rs 1,000 crore to the Indian Railways for 27 acres of land allocated for the project. Additional funds are being used for a detailed survey to count the number of tenements in Dharavi, expected to conclude by March 2025.
The project aims to start constructing rehabilitation buildings on the railway land within the next four to six months, with construction expected to commence in one to two months. The joint venture plans to build between 15,000 and 20,000 units on the allocated land and more than 100 staff members have been appointed to various roles in the project.
Dharavi redevelopment project challenges
The project faces several challenges, including high population density, height restrictions due to flight operations, Coastal Regulation Zone norms, integration of residential and commercial properties, and proximity to the Mithi river.
Acquiring additional land parcels for the project has also been difficult, as several government organisations have refused to provide land.
Dharavi resident relocation plans
Eligible residents who held tenements on or before January 1, 2000, and currently live on ground floors will receive a free 350 sq ft apartment in Dharavi. While residents who moved in between January 1, 2000, and January 1, 2011, will be allocated homes under the Pradhan Mantri Awas Yojana in Mumbai upon payment of Rs 2.5 lakh.
Residents who moved in after January 1, 2011, and live above ground floors are considered ‘ineligible’ but will be provided rental accommodation with an option to purchase later on a ‘hire purchase’ basis.