Adani Group signs agreement with Mhada to redevelop Mumbai's Motilal Nagar

Adani Group signs a deal with Mhada to redevelop Mumbai's Motilal Nagar colonies, a Rs 36,000 crore project aimed at creating ultra-modern homes, commercial spaces, and a 15-minute city concept

Adani Group signed an agreement with the Maharashtra Housing and Area Development Authority (Mhada) to redevelop Motilal Nagar 1, 2, and 3 colonies in Mumbai’s Goregaon (West), a project estimated to be worth around Rs 36,000 crore.

 

Adani Group was appointed as the Construction and Development (C&D) agency for implementing the Motilal Nagar redevelopment project in March. The Motilal Nagar Mhada colony spans 142 acres, and its redevelopment will be the largest in the country to be implemented through the C&D model, according to Mhada, a state-owned agency.

 

The residents of Motilal Nagar will be rehabilitated in ultra-modern 1,600-square-foot apartments. Through this redevelopment, Mhada will receive about 3.97 lakh square metres of built-up area from the Adani Group. 

   

Motilal Nagar 1, 2, and 3 currently comprise 3,700 tenements, and the rehabilitation will be carried out over an area of approximately 5.84 lakh sq m. Non-resident tenants will be provided with 987 sq m of commercial space.

 

The construction of the rehabilitation units is expected to be completed within seven years.

 

The redevelopment is based on the 15-minute city concept, where offices, public transport, metro stations, parks, entertainment hubs, schools, and hospitals will all be accessible within 15 minutes from the residences. A five-acre central park will be built, and priority will be given to resident rehabilitation and excellent traffic and mobility planning, Mhada noted.

 

The comprehensive master plan has been developed by Mecanoo, a renowned architecture firm based in the Netherlands, appointed by the Adani Group. The infrastructure planning has been done by Buro Happold, a London-based consultancy firm specialising in infrastructure development.

 

Mhada received government approval to undertake the redevelopment of Motilal Nagar through a C&D agency. The project has been declared a ‘special project’ by the government of Maharashtra and is being implemented through Mhada’s Mumbai Housing and Area Development Board, as directed by a government resolution. 

 

Earlier, the Bombay High Court permitted Mhada to carry out the redevelopment via the C&D model. Accordingly, tenders were invited by Mhada’s Mumbai Board for appointing a C&D agency, and the Adani Group won the bid, outpacing the second-highest bidder, L&T, who had quoted to hand over 2.6 lakh sq m of built-up area to Mhada.

 

This will be the Adani Group’s second large-scale redevelopment project in Mumbai, after the Dharavi redevelopment project, where it is estimated to rehabilitate around 72,000 residential and commercial tenants at a cost of over Rs 95,790 crore.