Dharavi Redevelopment to Guide Other States

Mumbai-based real estate luminary Dr. Niranjan Hiranandani, Founder and Chairman of the Hiranandani Group, foresees the Dharavi redevelopment scheme setting a precedent for other states to emulate in their own slum redevelopment efforts. The ambitious project, spearheaded by the Adani Group, was secured through an open international bidding process. The initiative aims to transform Asia’s largest slum into a modern, sustainable neighbourhood.

The Adani Group, through Dharavi Redevelopment Project Private Ltd (DRPPL), will develop both residential and commercial units in a joint venture with the Maharashtra government. Upon completion, these units will be handed over to the Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA) of the Maharashtra government for allocation based on survey results. The project promises to deliver flats measuring 350 square feet, which are 17% larger than those typically provided in other SRA schemes across Mumbai. In a bid to ensure long-term sustainability, the project includes a decade of free maintenance and provisions for 10% commercial space within residential premises. This will provide a steady revenue stream for housing societies. Furthermore, eligible businesses will be granted free business premises, and a five-year state GST rebate will be offered to boost profitability. This initiative aims to integrate these businesses into the formal economy, thereby increasing their competitiveness and fostering growth opportunities. The Dharavi Redevelopment Project is an unprecedented endeavour, designed to elevate the living conditions of over one million residents. By implementing sustainable multi-modal transport systems and state-of-the-art infrastructure utilities, the project aims to create a thriving urban environment.

Dr. Hiranandani emphasises that the project’s innovative approach and comprehensive benefits package could serve as a model for other states seeking to address their own slum redevelopment challenges. The transformation of Dharavi from a sprawling slum into a world-class urban area is expected to inspire similar projects nationwide, promoting sustainable urban development and improving the quality of life for millions of slum dwellers.  This pioneering project marks a significant milestone in urban development, setting a new standard for slum redevelopment projects across India. As other states look to replicate Dharavi’s success, the project underscores the importance of innovative, inclusive, and sustainable development strategies in addressing urban challenges.