Adani Properties wins Dharavi Redevelopment project for Rs 5,069 crore

30 Nov 2022 , 10:44 AM

According to news reports, the redevelopment of Dharavi, the second-largest slum colony in Asia, was awarded to Gautam Adani-led Adani Properties on Tuesday.

On November 29, the Maharashtra government authorities began accepting financial bids for the Dharavi reconstruction project, which is regarded as one of the biggest in India. The best bidder, Adani Properties, reportedly offered Rs 5,069 crore for its investment in the project.

The largest investment amount that was quoted for the project that was beyond the required Rs 1,600 crore was used as the foundation for the bidding criteria. According to the Maharashtra government, the project should be completed in 17 years, and the rehabilitation process should be completed in 7 years. More than 10 million square feet of construction are expected to be completed due to the Dharavi redevelopment project.

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