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Dharavi's human factors

Redevelopment is fraught with problems

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Dharavi | Adani Group | Business Standard Editorial Comment

Business Standard Editorial Comment  |  Mumbai 



After a failed bid in 2019, the has managed to win the rights to redevelop Dharavi, Asia’s second-largest slum that sits uncomfortably between the city’s commercial hub and the main airport. With a quote of Rs 5,069 crore, the Ahmedabad-based group’s property subsidiary outbid realtor DLF, which bid Rs 2,025 crore. The bid covers a Rs 23,000-crore project in a dense conurbation of 2.8 square km. The project, covering 178 hectares, known as the Notified Area, besides another 62 hectares, has two components: Rehabilitation and real estate; the latter is expected to cover the cost of the former. Given the grim aspect of Dharavi, the project appears attractive, offering the residents apartments of roughly 400 square feet in return for vacating space to be developed for high-end commercial and residential real estate. To be sure, this process has taken place in other parts of Mumbai, notably in the Parel area, but those exercises involved transactions between private realtors and local residents. The project is, however, a government-sponsored enterprise that has been in the works for 18 years. The fact that tenders were floated and cancelled twice is an indication of the complex nature of the project.

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First Published: Thu, December 01 2022. 22:16 IST

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