Adani Infra and Seclink Group shortlisted for Dharavi redevelopment
Real Estate

Adani Infra and Seclink Group shortlisted for Dharavi redevelopment

The Dharavi Redevelopment Project is reportedly all set to take off as two companies have been shortlisted for the projects. Reportedly, Adani Infra and Dubai-based Seclink Group are the two companies that have been shortlisted for the redevelopment of Asia’s largest slum.

After several failed attempts, the detailed project report (DRP) was revised in October 2018. The Maharashtra Government reportedly in plans to divide the sprawling slum into 12 sub-clusters and redevelop it was scrapped, and the State Cabinet has approved a fresh plan. As per the plan, Dharavi is expected to be redeveloped as a whole and not in parts. With 80 per cent of private stake, a special purpose vehicle (SPV) was set up with 20 per cent government contribution. SPV is expected to execute the Rs 220 billion project.

For its construction, global tenders were issues in November 2018, with a base price for the tender remaining Rs 31.5 billion. Technical bids are expected to be scrutinised next, after which the financial bids would be opened. Also one of the two bidders would be picked for the project.

As per the new plan, over 70,000 flats are expected to be constructed over an area of 200 acre, and 55,000 families rehabilitated under project.

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