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The Adani Group has emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project. The group has put in a Rs5,069 crore bid for the redevelopment of one of the largest slum sprawls in the world, outbidding DLF, which had quoted Rs 2,025 crore. The bid is for the entire Rs20,000-crore project, and the total timeline for the project is seven years to rehabilitate the 6.5 lakh slum dwellers. Overall, 10+ mn sq ft is expected to come up as part of the Dharavi redevelopment project over 17 years.
The winner- Adani Group was decided based on the highest initial investment pledge. Also, the project will now help the Adani Group to catapult into top 5 realty player in Mumbai with huge development potential across residential and commercial space. This also opens the opportunities for various contractor like L&T, PSP, JMC, Capacit'e, NCC among others to bag subcontracting orders.