Work for the redevelopment of Dharavi is likely to start in October 2023, once the letter of intent is issued to the Adani Group and formal MOU is signed in February 2023.
Maharashtra Deputy Chief Minister Devendra Fadnavis said that the state government will soon issue a Government Resolution (GR) formally awarding the Dharavi redevelopment project to the Adani Group.
He added, “A few nitty-gritties are to be worked out before the GR is issued. It will be done very soon.”
Earlier, SVR Srinivas, chief executive officer of Dharavi Redevelopment Project (DRP) stated that the construction work for the redevelopment of Dharavi is likely to start in October 2023, once the letter of intent is issued to the Adani Group and formal MOU is signed in February 2023.
The Maharashtra authority had floated a tender In October 2022 for the redevelopment work. In November 2022, the Adani Group was declared the winner for the project.
The Adani Group had won the bid for the project by promising an initial investment of Rs 5,069 crore for the overall Rs 20,000 crore project.
The area of Dharavi spans 259 hectares with population estimates of around 600,000 along with 12,000 commercial establishments. There are an estimated 59,000 eligible slum families that will be part of the rehabilitation process.
The joint measurement of the 47 acres of railway land to be handed over to the authority for the redevelopment project is also close to completion.
The government plans to complete the rehabilitation of slum dwellers within seven years from the start of construction, and complete the entire project including the sale component in 17 years.
Officials have stated that in the next 17 years, an estimated one crore square feet of construction will take place with a projected cost of Rs 20,000 crore.
Of this, 20 to 30 lakh square feet area will be made available for sale on the open market, while the rest of the area will accommodate the rehabilitation of slum dwellers.
Also Read: Dharavi Makeover: How This Ambitious Slum Redevelopment Project Is Taking Shape