Dharavi revamp: pact inked for 47.5 acres of railway land
Real Estate

Dharavi revamp: pact inked for 47.5 acres of railway land

The Dharavi Redevelopment Authority (DRA) and the Indian Railways have signed a definitive agreement for handing over of 47.5 acres of railway land in Dadar for the Dharavi redevelopment project.

Maharashtra Deputy Chief Minister Devendra Fadnavis, who was in Delhi for the meeting, tweeted that the development would pave the way for fast-tracking the project.

DRA chief executive S V R Srinivas said the physical handing over of land to the authority should happen soon. The DRA has already invited bids and around eight developers attended the pre-bid meeting, including one from the United Arab Emirates and one from South Korea.

It is in the process of appointing a project management consultant for the about Rs 230 billion project covering over 500 acres, which involves the rehabilitation of 58,000 eligible households and an equal number of ineligible households. A special purpose vehicle will be formed by the SRA, DRA and the lead bidder to execute the project.

Srinivas said, “The DRA paid Rs 8 billion the railways for 45 acres in 2019 when the memorandum of understanding was signed. Another Rs 2 billion is to be paid on handing over physical possession. The railways will be given a share in the profits to the tune of Rs 28 billion.”

See also:
Kotak eyes $1 bn fund to invest in residential market in five cities
Lulu Group to invest Rs 30 bn for India’s biggest mall


The Dharavi Redevelopment Authority (DRA) and the Indian Railways have signed a definitive agreement for handing over of 47.5 acres of railway land in Dadar for the Dharavi redevelopment project. Maharashtra Deputy Chief Minister Devendra Fadnavis, who was in Delhi for the meeting, tweeted that the development would pave the way for fast-tracking the project. DRA chief executive S V R Srinivas said the physical handing over of land to the authority should happen soon. The DRA has already invited bids and around eight developers attended the pre-bid meeting, including one from the United Arab Emirates and one from South Korea. It is in the process of appointing a project management consultant for the about Rs 230 billion project covering over 500 acres, which involves the rehabilitation of 58,000 eligible households and an equal number of ineligible households. A special purpose vehicle will be formed by the SRA, DRA and the lead bidder to execute the project. Srinivas said, “The DRA paid Rs 8 billion the railways for 45 acres in 2019 when the memorandum of understanding was signed. Another Rs 2 billion is to be paid on handing over physical possession. The railways will be given a share in the profits to the tune of Rs 28 billion.” See also: Kotak eyes $1 bn fund to invest in residential market in five citiesLulu Group to invest Rs 30 bn for India’s biggest mall

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?