FCC

Govt formally awards Dharavi project to Adani Group firm

2023-07-18

The 259-hectare Dharavi site has been officially given by the Maharashtra government. Project of redevelopment for an Adani Group company.

The project entails rehabilitating the sprawling Dharavi slum neighborhood in central Mumbai, which is close to the BKC commercial zone, and is said to have a revenue potential of $200 million. Adani Properties got it in November of last year after fighting against other prominent real estate players including DLF and Naman Developers.

According to a government resolution (order) issued by the Housing Development department on Thursday, the state cabinet accepted the results of the bidding procedure on December 22, 2022, and the rights are now being granted as a result.