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Adani Group clinches Dharavi redevelopment project with Rs 5,069-crore bid

The Maharashtra government aims to finish the project in the next 17 years and complete rehabilitation in the next seven years.

File image of Mumbai's Dharavi area.

File image of Mumbai's Dharavi area.

Adani Group has won the bid for the redevelopment of Mumbai's Dharavi area, one of the largest slum clusters in Asia.

The Maharashtra government authorities, on November 29, opened the financial bids for the Dharavi redevelopment project.

SVR Srinivas, Chief Executive Office of Dharavi Redevelopment Project said, "We got three bids of which we opened two financial bids of Adani and DLF as Naman Group did not qualify in the technical bidding. The bid by Adani Group was for Rs 5,069 crore and DLF was Rs 2,025 crore. We will now further go with the approval from the state government and also form a special purpose vehicle (SPV) for the redevelopment of Dharavi.”

Three companies namely Adani Realty, DLF and Naman Group had submitted bids for the redevelopment of Dharavi and rehabilitation of slum dwellers. With the selection of the successful bidder, the redevelopment of Dharavi will finally take off now, after multiple failed attempts in the last 15 years.