In a historic move, Gautam Adani, Founder and Chairman, adds a landmark success to the Adani Group. The company has won the bid to redevelop Dharavi, one of the largest slum clusters in the world with an initial investment of Rs 50.69 billion. The bid is merely the initial investment in what will be a Rs 200 billion project and according to the bid criteria, the company will have to form a special purpose vehicle (SPV). This is the fourth time in the last 18 years that the Maharashtra Government is attempting to build Asia’s largest slum cluster which is home to close to 58,000 families and has around 12,000 commercial establishments. The redevelopment plan is an integrated development approach of the residential, commercial, and industrial with a floor space index of over 4.
