Renovation of Mumbai’s Dharavi slums at Rs. 5,069 crore auctioned by Adani Group!!

In the bid to rehabilitate Dharavi, Asia’s largest slum in Mumbai, a whopping Rs. 5,069 crore was picked up by the Adani Group.

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First Published Nov 30, 2022, 4:01 PM IST

A bid has been launched to rehabilitate Dharavi, the world’s largest slum. Dharavi has a total area of ​​259 hectares. Many companies participated in this auction. DLF, which is engaged in construction work, has invested Rs. 2,025 crore had been bid for. At this stage, the maximum price that no one asked for was Rs. 5,069 crore was the Adani Group’s bid. In the end, the Adani group won the auction, said SVR, the chief executive officer of the project. Srinivas said.

He further said, “We are going to send the details to the Maharashtra government. The government will take the decision to give the final approval,” he said.

Currently, it will take seven years to rehabilitate 6.5 lakh slum dwellers in an area of ​​2.5 square kilometers. About 6.5 lakh people live here. Houses will be built and resettled for them again in seven years. For the entire project, Rs. Srinivas also said that it will cost 20,000 crores. The Eknath Shinde government is expected to give its approval in a few weeks.

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Eight people, including firms from South Korea and the United Arab Emirates, attended a pre-auction meeting in October, of which only three participated in the auction. Urban development company Naman Group participated in the auction. However, their bid was not qualified.

To opt for the auction, a minimum of Rs. The government had insisted on showing a consolidated net worth of Rs 20,000 crore. The government had said that those undertaking the construction work should also take care of rehabilitation, renovation and infrastructure. Based on this, the Adani Group is already running a real estate company. Notably, it is also engaged in construction work in suburban Ghatkopar and Byculla in central Mumbai.

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Last Updated Nov 30, 2022, 4:01 PM IST

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