However, the latest in Gautam Adani's bag - the redevelopment of Dharavi, possibly the World's most dense and largest slum layout may be a tough nut to crack.
The Adani group's bid of ₹5,069 crore bagged the project ahead of Delhi builders DLF that had bid ₹2,025 crore. Another Mumbai group, Naman, was disqualified in the technical round. The fact that eight developers had attended the pre-bid meetings, but only three finally entered the race indicates how tough the project is.
The redevelopment of Dharavi has always been a challenge as it is a complex slum township that houses not only 68,000 families in semi-legal tenements, but also a labyrinthof cottage and home industries including pottery, leather works, pappad-manufacture and packaging units. Located in the heart of Mumbai's island city amid a crisscross of nullahs, Dharavi is seen as an 'eyesore' and has been the focus of attempts since 1971 to rebuild it along normal town-planning norms.
A gold mine?
On the face of it, the Adani Group seems to have bagged a gold mine. The project covers 540 acres or nearly 2.5 square kilometers (kms) and has been accorded special development rights of 4.0 FSI (ie. the built up area allowed is 4X of ground area). It is also cheek-by-jowl to Mumbai's fancy steel and glass commercial district - the Bandra Kurla Complex (BKC). The recent addition of an adjoining 117 acre of Railway land, that is now a part of the project, is a new sweetener.
This story is from the December 04, 2022 edition of The New Indian Express.
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This story is from the December 04, 2022 edition of The New Indian Express.
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