Adani Ignites Dharavi Transformation with $1.5 Billion Investment
New Delhi : The Adani Group is planning to invest approximately $1.5 billion, equivalent to Rs 12,500 crore, to initiate the long-awaited Dharavi redevelopment project in Mumbai. This substantial investment is expected to be primarily financed through the Adani Group’s internal resources, leveraging their significant cash reserves. To facilitate this, a special purpose vehicle (SPV) has been established, jointly owned by the Adani Group (80 percent) and the Maharashtra government (20 percent).The redevelopment of Dharavi has been a proposal since 2004, but legal challenges and debates have hindered its commencement. After inviting global tenders for the project, the Adani Group emerged as the highest bidder, surpassing DLF.
In July, the Maharashtra government granted approval for the Adani Group to kickstart the project in Dharavi, a sprawling 590-acre slum in Mumbai with over 900,000 residents and numerous small businesses. This ambitious redevelopment project envisions transforming the Dharavi space into modern apartments, offices, and malls. It also includes the construction of a Metro rail network connecting Dharavi to various parts of Mumbai. This rail system will include a station near the “T Junction,” providing connectivity to Nariman Point, the Bandra Kurla Complex (BKC), and Mumbai International Airport. Additionally, a new road will link Dharavi to the Bandra-Worli Sea Link, further enhancing connectivity. The entire project, planned to span seven years, is estimated to require an investment of $4-5 billion. To initiate construction and logistical activities, approximately Rs 12,500 crore will be infused into the SPV. Simultaneously, an authentication survey is underway to verify ownership of buildings in the slum, and a master plan for project implementation is set to receive joint approval from the state government, the Mumbai Metropolitan Region Development Authority (MMRDA), and the Adani Group. As part of the project, slum residents will be relocated to new transit tenements constructed by the Adani Group. Gautam Adani, Chairman of the Adani Group, has expressed his commitment to providing new homes to eligible residents. In 2004, the Maharashtra state government had envisioned the transformation of Dharavi into a cluster of high-rises with improved urban infrastructure. The plan included the relocation of 68,000 people, including slum dwellers and those with commercial establishments. Those with proof that their slum structure existed before January 1, 2000, would receive 300 sq ft houses for free, while those who settled in Dharavi between 2000 and 2011 would be offered these homes at a price. Despite these plans, the project remained stagnant for various reasons. Dharavi occupies a prime location in the heart of Mumbai, in close proximity to the affluent Bandra-Kurla Complex, known for its high commercial office premiums.
This sprawling 2.8 sq km slum is home to an informal leather and pottery industry employing over 100,000 people. In late November 2022, the bids for the Dharavi redevelopment project were opened once again, and the Adani Group emerged as the highest bidder. SVR Srinivas, the CEO of the Dharavi redevelopment project, reported that the Adani Group, led by billionaire Gautam Adani, submitted a bid of Rs 5,069 crore for the project, surpassing the DLF Group’s quote of Rs 2,025 crore .Gautam Adani, during the Adani Group’s annual general meeting, reminisced about his initial encounter with Dharavi in the late 1970s. He was captivated by the vibrant mix of cultures and languages in the area. Adani reiterated his commitment to providing new homes for eligible residents while preserving the spirit and essence of Dharavi throughout the transformation process.
He expressed that after redevelopment, visitors, including former world heavyweight boxing champion Mike Tyson, who had shown interest in visiting Dharavi, would find the neighborhood just as “spirited and alive” as it has always
Hi, i think that i saw you visited my web site so i came to “return the favor”.I am trying to find things to enhance my website!I suppose its ok to use some of your ideas!!
I was wondering if you ever thought of changing the layout of your website? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or 2 pictures. Maybe you could space it out better?
I was suggested this web site through my cousin. I am no longer sure whether or not this publish is written by means of him as nobody else recognize such detailed about my trouble. You are incredible! Thank you!
I got what you mean , regards for putting up.Woh I am pleased to find this website through google.
You are my inhalation, I own few web logs and very sporadically run out from to brand : (.
Saved as a favorite, I really like your blog!
After all, what a great site and informative posts, I will upload inbound link – bookmark this web site? Regards, Reader.
I think other web-site proprietors should take this web site as an model, very clean and wonderful user genial style and design, let alone the content. You’re an expert in this topic!
This website is really a stroll-by for all the data you wished about this and didn’t know who to ask. Glimpse here, and also you’ll definitely uncover it.
Way cool, some valid points! I appreciate you making this article available, the rest of the site is also high quality. Have a fun.
What i don’t realize is if truth be told how you’re now not really much more smartly-liked than you might be now. You are very intelligent. You know therefore significantly in terms of this matter, made me individually imagine it from a lot of varied angles. Its like women and men aren’t fascinated until it?¦s something to do with Woman gaga! Your personal stuffs great. At all times deal with it up!
Purdentix review
Purdentix reviews
Purdentix reviews
Purdentix review
Purdentix review
Purdentix reviews
Purdentix review
Purdentix reviews
Purdentix review
The layout is visually appealing and very functional.
The layout is visually appealing and very functional.
The layout is visually appealing and very functional.
I love how user-friendly and intuitive everything feels.
The design and usability are top-notch, making everything flow smoothly.
The content is well-organized and highly informative.
I’m really impressed by the speed and responsiveness.
I’m really impressed by the speed and responsiveness.
The content is engaging and well-structured, keeping visitors interested.
This website is amazing, with a clean design and easy navigation.
This site truly stands out as a great example of quality web design and performance.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
This website is amazing, with a clean design and easy navigation.
This site truly stands out as a great example of quality web design and performance.
The content is engaging and well-structured, keeping visitors interested.
This website is amazing, with a clean design and easy navigation.
I’m really impressed by the speed and responsiveness.
I’m really impressed by the speed and responsiveness.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
The content is well-organized and highly informative.
The design and usability are top-notch, making everything flow smoothly.
This website is amazing, with a clean design and easy navigation.
The design and usability are top-notch, making everything flow smoothly.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
I’m really impressed by the speed and responsiveness.
This site truly stands out as a great example of quality web design and performance.
AQUA SCULPT REVIEW
The design and usability are top-notch, making everything flow smoothly.
It provides an excellent user experience from start to finish.
This website is amazing, with a clean design and easy navigation.
I love how user-friendly and intuitive everything feels.
It provides an excellent user experience from start to finish.
I love how user-friendly and intuitive everything feels.
This site truly stands out as a great example of quality web design and performance.
I’m really impressed by the speed and responsiveness.
This site truly stands out as a great example of quality web design and performance.
I’m really impressed by the speed and responsiveness.
I love how user-friendly and intuitive everything feels.
The layout is visually appealing and very functional.
The content is engaging and well-structured, keeping visitors interested.
The content is engaging and well-structured, keeping visitors interested.
I love how user-friendly and intuitive everything feels.
This website is amazing, with a clean design and easy navigation.
It provides an excellent user experience from start to finish.
The layout is visually appealing and very functional.
This website is amazing, with a clean design and easy navigation.
This website is amazing, with a clean design and easy navigation.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
The layout is visually appealing and very functional.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
I love how user-friendly and intuitive everything feels.
The content is well-organized and highly informative.
This site truly stands out as a great example of quality web design and performance.
The design and usability are top-notch, making everything flow smoothly.
ICE HACK
It provides an excellent user experience from start to finish.
I’m really impressed by the speed and responsiveness.
The layout is visually appealing and very functional.
I love how user-friendly and intuitive everything feels.
The design and usability are top-notch, making everything flow smoothly.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
This site truly stands out as a great example of quality web design and performance.
This site truly stands out as a great example of quality web design and performance.
The content is engaging and well-structured, keeping visitors interested.
The content is engaging and well-structured, keeping visitors interested.
The layout is visually appealing and very functional.
This website is amazing, with a clean design and easy navigation.
A perfect blend of aesthetics and functionality makes browsing a pleasure.
The layout is visually appealing and very functional.
Nothing beats homemade pasta. The texture and flavor are just on another level compared to store-bought versions. Cooking from scratch is truly an art.
Live concerts have a special magic. No recording can ever capture that raw energy of the crowd and the artist performing in the moment.
Open-world games are the best! Nothing beats the feeling of total freedom, exploring vast landscapes, and creating your own adventure.
Watching a sunset over the ocean is one of the most peaceful experiences in life. Nature has a way of reminding us how small but connected we all are.
Japan is definitely on my bucket list! The mix of tradition and modernity is fascinating, and the food alone is enough reason to visit.
I am pleased that I observed this blog, precisely the right info that I was searching for! .