Race for Dharavi redevelopment between Adani, DLF, and Naman Group

18 Nov 2022 CW Team

The Rs 200 billion Dharavi reconstruction project has received proposals from some of the top real estate firms, including the Adani Group, the DLF Group of Delhi, and the Naman Group of the city, reigniting expectations that Asia's largest slum cluster may finally receive an upgrade.

According to SVR Srinivas, CEO, Dharavi Redevelopment Authority, the project drew three bids after the government changed the terms and conditions to promote competition, in contrast to 2016 when no bids were submitted despite five extensions and 2018 when only two proposals were received.

Only three proposals were submitted November 15, the final day for submission, despite the fact that eight companies—including ones from South Korea and the UAE—had attended the pre-bid conference on October 11. Whether all three businesses have technical partners is unknown. The Dharavi tender conditions, in contrast to earlier ones, only permit two partners in a consortium: the lead partner, who must have a higher financial net worth, and the technical partner, who must have construction experience.

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