Dharavi Redevelopment - Gautam Adani's Mumbai Slums & Makeover #shorts #dharavi

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Издатель Dec 6, 2022

Redevelopment project of Dharavi is the latest news. Real Estate development, Asia’s largest slum, Dharavi’s redevelopment contract was won by Adani Properties. Adani Properties is led by Gautam Adani, an Indian billionaire industrialist. Dharavi slum spreads over 600 acres of land containing a population of 1 million people with over 12,000 commercial establishments. The Maharashtra government for the longest time has aimed to build and redevelop dharavi generating employment opportunities. This redevelopment project is Mumbai's most ambitious urban renewal and transformation initiatives, the project seeks to transform the sprawling slum of Dharavi, spread over 2.8 sq. km, into an integrated commercial cum residential township. The Adani Group has bid Rs 5,069 crore to remodel Dharavi, where the estimated budget of the redevelopment is Rs 23,000 Cr with a timeline of 17 years! This dharavi slum is just about 5 kms far from the heart of the city; which will now be a major profit for the Adani properties group to generate high revenues given the cost per sq foot of residential and commercial space in central Mumbai. The Adani Properties, the winning bidder is now required to form a special purpose vehicle (SPV) for executing the project. The developer has to take care of rehabilitation, renewal, amenities and infrastructure components.

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