On November 29, the Adani Group, with an initial investment of 5,069 crore, won the contract to redevelop Dharavi, one of the biggest slum clusters in the world. Chief executive of the Dharavi Redevelopment Project and commissioner of the Maharashtra Housing and Area Development Authority, SVR Srinivas, confirmed this and stated, “Adani Group won the bid with ₹5,069 crore, DLF Group submitted a bid of ₹2,025 crore, we did not open Naman Group’s bid, as it didn’t not qualify due to technical reasons.” Adani Group's bid is only the project's initial investment of 20,000 crores, and to meet the requirements of the bid, the company must create a special purpose vehicle (SPV). The remaining 80% of this initial investment must be paid in two installments: 20% upon submission of an integrated master plan, and another 20% before signing the development agreement. The Maharashtra government is making an attempt for the fourth time in the past 18 years to construct Asia's largest slum cluster, which is home to close to 58,000 families and has about 12,000 commercial establishments. With a floor space index of over 4, the redevelopment plan is an integrated development strategy for the residential, commercial, and industrial sectors.

Key Points

• On November 29, the Adani Group, with an initial investment of 5,069 crore, won the contract to redevelop Dharavi, one of the biggest slum clusters in the world.

• The Maharashtra government is making an attempt for the fourth time in the past 18 years to construct Asia's largest slum cluster, which is home to close to 58,000 families and has about 12,000 commercial establishments.