slum redevlopment

slum redevlopmentThe Adani Group has emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project by submitting a Rs 5,069 crore bid for redeveloping the world’s largest slum. Adanis outbid DLF and the Naman Group.

The second largest bidder, DLF quoted Rs 2,025 crore. The Rs 20,000 crore project intends to rehabilitate 6.5 lakh slum dwellers over the next seven years.

As per the terms and conditions the winning bidder is required to form a special purpose vehicle (SPV) for executing the project and has to take care of rehabilitation, renewal, amenities and infrastructure components. The project has been in limbo for many years due to its complexity.

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