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State government clears Dharavi Redevelopment Project

State government has issued the tenders globally and is aiming to complete the project in the next seven years

State government clears Dharavi Redevelopment Project

After a long wait, the state government on Tuesday announced to redevelop Asia’s largest slum, Dharavi. This proposal was approved during a state cabinet meeting and was first presented fourteen years ago.

Dharavi Redevelopment project will be implemented in five sectors and Maharashtra Housing and Area Development Authority (MHADA) has been given the responsibility of constructing sector-5. However, so far, MHADA has been able to complete only one tower with regards to the construction of sector-5.

On the other hand, for the other sectors, the Dharavi Redevelopment Project (DRP) invited many tenders but no builder or developer came forward. Of the remaining four sectors in the project, DRP created 16 sub-sectors but received no response.

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On this backdrop, the state government has given Special Purpose Vehicle (SPV) status to implement ₹22,000 crore worth DRP that is spread on 535 acres.

For the redevelopment project, tenders will be issued globally and the state is planning to complete the project in the next seven years. For this project, the state government will be investing 20 per cent of its finance. 

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