The Adani Group has committed over Rs 2,000 crore in the Dharavi Redevelopment Project (DRP), Asia's largest slum redevelopment program, which spans 640 acres in Mumbai. The Adani Group and the Maharashtra government formed a joint venture to build residential and commercial units, with the Adani Group serving as the main partner.
While speaking with FE, SVR Srinivas, CEO of the Dharavi Redevelopment Authority, called the project as "the brownest of brownfield projects" and one of the most demanding of his career. Despite the hurdles, the initiative intends to finish restoration and begin transferring eligible families within the next two to two and a half years.
The Adani Group has already paid the Indian Railways Rs 1,000 crore for the 27 acres of land designated for the project. Additional monies are being utilized to conduct a full study of the number of tenements in Dharavi, which is projected to be completed by March 2025.
The project intends to begin erecting rehabilitation buildings on the railway property within the next four to six months, with construction set to begin in one or two months. The joint venture intends to develop between 15,000 and 20,000 apartments on the designated property, and over 100 employees have been assigned to various responsibilities in the project.
