Adani’s Dharavi Redevelopment Project

The Adani Group has prevailed the offer for the long- delayed Dharavi redevelopment master plan, which aims to make over a huge slum cluster — located on high corporate land — in Mumbai. 

Verifying the development, SVR Srinivas, Chief Executive officer of the Dharavi Redevelopment Project, told The Indian Express, “ The Adani group quoted Rs 5,069 crore for this master plan, followed by Rs 2,025 crore quoted by the DLF group. Only Adani and DLF accomplished in the last bidding. The third, Naman Group, could n’t frame it. ” 

The Adani Group had lost a offer for the master plan in January 2019. 

The Dharavi redevelopment master plan has been clung for more or less two decades. Dharavi, called one of the largest slums in the world, sits on real estate gold. Its redevelopment will involve a massive investment of money upfront, amid tough difficulties of land accession and recuperation. Here’s what the master plan entails, and why it has been dragged for so long.

What is the Dharavi redevelopment project?

Dharavi is a bare gravestone’s venture from India’s wealthy business district, the Bandra-Kurla Complex, where corporate office prizes are among the topmost in the country. 

The slum sprawl, spread over 2.8 sqkm, is habitat to an informal leather and crockery industry which employs over a lakh people. The state government had visioned this sprawl to be converted into a group of high-rises with bettered civic structure. It included resettling 68,000 people, entailing slum habitants and those with corporate establishments. 

The state was to hand over 300-sqft houses for free to residents with evidence that their slum building was in actuality before January 1, 2000, and for a cost to those who laid in Dharavi between 2000 and 2011. 

When was the project first proposed?

In 1999, the Sena-BJP government first offered to modernize Dharavi. later, the Maharashtra government in 2003- 04 determined to modernize Dharavi as an intermixed designed township, and an action strategy for this was approved. 

It was determined to evolve Dharavi by utilizing land as a resource to cross-subsidise the expense of development through a sale factor on the base of the Slum Rehabilitation Scheme. It would be split into sectors and developers appointed for them. The government also determined to notify the total of Dharavi as an undeveloped region and to designate a Special Planning Authority for its development. 

In 2011, the government called off all tenders and drew up a project. 

In 2018, the BJP- Sena government formed a Special intent vehicle for Dharavi and notified it for the redevelopment master plan. thereafter, global tenders were invited.

Adani’s loss in 2019 

Although Dubai- based infrastructure company Sealink Technologies Corporation rolled out to be a fortunate bidder in January 2019 against Adani, the tender wasn't awarded following the verdict to involve Railway land in the redevelopment master plan. 

By 2020, the Maharashtra government had revamped, and in October of that day, the Uddhav Thackrey- routed Maharshtra Vikas Aghadi government called off the tender and said new tenders would be glided shortly. The MVA government had claimed that one of the reasons for calling off the tender was the holdback by the Centre in transferring railway land important for the master plan. 

After the government recast again with Eknath Shinde holding over as CM, the consequence of land transfer from the Centre was believed to have been concluded, and brand-new tenders were asked. 

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