+
Adani Properties awarded the Dharavi redevelopment project
Real Estate

Adani Properties awarded the Dharavi redevelopment project

With an initial investment of Rs 50.69 billion, the Adani Group has won the bid to redevelop Dharavi, one of the world's largest slum clusters.

Adani Group won the bid with a bid of Rs 5,069 crore, DLF Group submitted a bid of Rs 2,025 crore, and Naman Group's bid was not opened due to technical reasons.

Adani Group's bid is only for the initial investment in the Rs 200 billion project, and the company will be required to form a special purpose vehicle under the bid criteria (SPV). Following that, 20 per cent of the initial investment must be submitted before signing the development agreement, with an additional 20 per cent due upon submission of an integrated master plan.

The Maharashtra government is attempting to build Asia's largest slum cluster for the fourth time in the last 18 years, which will house close to 58,000 families and 12,000 commercial establishments. The redevelopment plan is an integrated residential, commercial, and industrial development approach with a floor space index of more than 4.

With an initial investment of Rs 50.69 billion, the Adani Group has won the bid to redevelop Dharavi, one of the world's largest slum clusters. Adani Group won the bid with a bid of Rs 5,069 crore, DLF Group submitted a bid of Rs 2,025 crore, and Naman Group's bid was not opened due to technical reasons. Adani Group's bid is only for the initial investment in the Rs 200 billion project, and the company will be required to form a special purpose vehicle under the bid criteria (SPV). Following that, 20 per cent of the initial investment must be submitted before signing the development agreement, with an additional 20 per cent due upon submission of an integrated master plan. The Maharashtra government is attempting to build Asia's largest slum cluster for the fourth time in the last 18 years, which will house close to 58,000 families and 12,000 commercial establishments. The redevelopment plan is an integrated residential, commercial, and industrial development approach with a floor space index of more than 4.

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code