INSUBCONTINENT EXCLUSIVE:
Gautam Adani-led Adani Properties on Tuesday won the bid for the renovation of Dharavi, the second-largest slum colony in Asia, reported
Moneycontrol.
The Maharashtra government authorities, on November 29, opened the financial bids for the Dharavi redevelopment project which
is being touted as one of the largest redevelopment projects in India.
Adani Properties, the highest bidder, reportedly offered Rs 5,069
the stipulated Rs 1,600 crore.
DLF and Shree Naman Developers were the other two bidders competing
SVR Srinivas, Chief Executive Office of Dharavi Redevelopment Project said, "We got three bids of which we opened two financial bids of
Adani and DLF as Naman Group did not qualify in the technical bidding
The bid by Adani Group was for Rs 5,069 crore and DLF was Rs 2,025 crore
We will now further go with the approval from the state government and also form a special purpose vehicle (SPV) for the redevelopment of
winning bidder.
The project is expected to be finished in 17 years, while the rehabilitation process should be finished in seven years,
according to the Maharashtra government
The Dharavi redevelopment project is anticipated to result in the construction of more than 10 million square feet overall.
The state
government on October 1 floated a global tender for the redevelopment and rehabilitation of Dharavi after a failed attempt in 2019.
