Adani Group will rejuvenate the biggest slum, 5,069 crore bid for Dharavi redevelopment project

Gautam Adani has emerged as the highest bidder for the 259-hectare Dharavi redevelopment project. A top official gave this information on Tuesday. The group has bid for Rs 5,069 crore for the redevelopment of one of the world's largest slums, said SVR Srinivas, chief executive officer of the project.

He said that now its details will be sent to the government. The government will consider it and give final approval. This bid is for the entire Rs 20,000 crore project. The total time frame for this project to rehabilitate 6.5 lakh slum dwellers is seven years. The project is spread over an area of ​​2.5 sq km. This project will help generate more revenue by utilizing millions of square feet of residential and commercial space in central Mumbai but due to its complexities, it has been in limbo for many years.

Eight bidders, including entities from South Korea and the UAE, participated in the pre-bid meet held in October and three of them bid for the project. Mumbai-based Naman Group was the third bidder, but its bid was not found eligible. The government has sought a consolidated net worth of at least Rs 20,000 crore to select the bid. Both technical and financial eligibility will be assessed before awarding the project to the highest bidder.