Date: 08 July 2025 | Source: HT Real Estate News

The Adani Group has secured its third major redevelopment venture in Mumbai with the signing of an agreement for the Motilal Nagar project in Goregaon (West), following its previous wins in Dharavi and Bandra Reclamation.

Announced on 7 July by the Maharashtra Housing and Area Development Authority (MHADA), the agreement formally appoints the Adani Group as the Construction and Development (C&D) agency for Motilal Nagar Colonies 1, 2, and 3. The estimated investment for this landmark urban redevelopment is Rs 360 billion (approx. £3.3 billion), spanning 142 acres in one of the city’s prime western suburbs.

MHADA describes this as the largest redevelopment project in India to be undertaken via the construction and development model. It aims to rehabilitate:

6. 3,372 eligible residential units

7. 328 eligible commercial establishments

8. 1,600 eligible slum tenements under the 1971 Slum Act

The project also includes the provision of 987 sq m of commercial space for non-resident tenants and will feature a five-acre central park. Completion is expected within seven years.

A key highlight is the free rehabilitation of residents into state-of-the-art 1,600 sq ft apartments. The project will also significantly increase MHADA’s housing stock, with the developer handing over 3.97 million sq m of constructed area.

At the signing ceremony, held at MHADA headquarters, Sanjeev Jaiswal, Vice President and CEO of MHADA, and Pranav Adani, Director of Adani Properties Pvt. Ltd., were present. Jaiswal described the project as a realisation of “a long-cherished dream” for residents, emphasising MHADA’s commitment to transparency, quality, and social responsibility.

The project has also engaged international consultants for design and planning:

1. Mecanoo, a leading Dutch architecture firm, developed the master plan

2. Buro Happold, a UK-based infrastructure consultancy, handled infrastructure planning

To support sustainability goals, the residential buildings under the rehabilitation scheme will be equipped with solar panels, reinforcing the project's eco-conscious design.

With this project, the Adani Group continues to shape Mumbai’s urban landscape, reinforcing its presence as a key player in the country’s largest redevelopment efforts.