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Corporations/ Associations/ Others | Maharashtra - India | PID: 203947
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The USD three billion Dharavi redevelopment project, spearheaded by the Adani Group, is set to commence with the Maharashtra government issuing the commencement certificate. This marks the start of the first phase of the project on a 6.4-acre railway land parcel in Matunga West, Mumbai.
Encompassing 600 acres in total, the initiative aims to rehabilitate over a million residents while integrating commercial development, with an expected completion timeline of seven years. The lead developer, Navbharat Mega Developers (NMDPL), previously known as Dharavi Redevelopment Project is responsible for constructing a modern housing complex for railway employees alongside the rehabilitation structures for Dharavi residents. These developments will also include commercial spaces catering to the local community.
CEO of the Dharavi Redevelopment Project and the Slum Rehabilitation Authority, SVR Srinivas confirmed, "We have received the commencement certificate for the first phase of the project on the part of railway land and will now begin the actual construction work of Dharavi rehabilitation."
Adani Group holds an 80 percent stake in NMDPL, with the Maharashtra government retaining the remaining 20 percent. The land parcel in Matunga is part of a larger 27.6-acre plot, including a scrapyard near Mahim railway station, transferred from the Railways in March 2024. This transfer is part of the 45-acre total required for the Dharavi redevelopment plan.
The rehabilitation of residents and the construction of new commercial and residential facilities are pivotal to this transformation, making it a landmark urban renewal effort in India
| Updated on: 28 - Jan - 2025
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