Adani Group has invested Rs 2000 crore in Dharavi Redevelopment Project (DRP). Adani Group and Maharashtra government are working together to redevelop Asia's largest slum spread over 640 acres in Mumbai. According to the report of Financial Express (FE), this joint venture is being led by Adani Group, which is responsible for building residential and commercial units in Dharavi. This is the most challenging project of my career: CEO Dharavi Redevelopment Project CEO SVR Srinivas said that this is the most challenging project of my career. Despite the challenges, the target of the project is to start rehabilitation and resettlement of eligible families within the next two to two and a half years. Adani Group has already paid Rs 1,000 crore to Indian Railways for 27 acres of land allotted for the project. Additional funds are being used to count and conduct a detailed survey of tenements in Dharavi, which is expected to be completed by March 2025. Construction expected to begin in one to two months The target of this project is to start construction of rehabilitation buildings on railway land within the next four to six months, with construction expected to begin in one to two months. Plan to build 15,000 to 20,000 houses The joint venture has planned to build 15,000 to 20,000 units on the allotted land. More than 100 employees have been employed for various roles in this project. This project faces many challenges This project faces many challenges, including high population density, restrictions due to flight operations, coastal regulation zone norms, merging residential and commercial properties, and proximity to Mithi river. Acquiring additional land for the project has also become difficult, as several government organisations have refused to provide land. Eligible residents who lived in a rented house on or before January 1, 2000 and currently live on the ground floor will get a free 350 sq ft apartment in Dharavi. Residents who moved in between January 1, 2000 and January 1, 2011 will be allotted homes under the Pradhan Mantri Awas Yojana in Mumbai on payment of Rs 2.5 lakh. If residents have moved in after January 1, 2011 and live above the ground floor, they will be considered 'ineligible', but will be provided rental accommodation on a 'hire purchase' basis with an option to buy later. Adani Group had bid ₹5,069 crore On 29 November 2022, Adani Group's company 'Adani Properties' won the bid for the project to redevelop the slum. The company had bid Rs 5,069 crore for this. Apart from Adani Group, DLF Group was the second largest bidder, which had bid Rs 2,025 crore. The project was first proposed in 1999 In 1999, the BJP-Shiv Sena government had first proposed the redevelopment of Dharavi. After this, in 2003-04, the Maharashtra government decided to redevelop Dharavi as an integrated planned township and a project was approved for this and tenders were issued. In 2011, the government cancelled all the tenders and prepared a master plan. The Eknath Shinde government of Maharashtra issued new tenders in October 2022. Earlier, the bid for this project was cancelled by the Uddhav Thackeray government in the year 2019. Dharavi's popularity increased due to films, tourists also come here This area gained popularity after the release of the film 'Slumdog Millionaire' in 2008. The film also won many awards. After this, it was seen in the film Gully Boy. Many tourists come here to get a glimpse of the life of people living in slums of India. This area was settled by the British in 1882. It was settled with the aim of providing affordable accommodation to labourers. Gradually, people started increasing here and slums were formed. The land here is government land, but people have made slums here.
Graphics Source: VaskarAssets
Adani Group invests ₹2,000 crore in Dharavi project: Construction expected to start in 2 months, plan to build 20 thousand houses
