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The Adani Group-led Dharavi Redevelopment Project in Mumbai is likely to rehabilitate more than one million slum dwellers through the construction of over 1,25,000 housing units, making it one of Asia’s largest urban renewal initiatives.
According to an HSBC report, Dharavi spans nearly 600 acres in central Mumbai. Many reports describe the area as Asia’s largest slum. More than a million people live there.
The area also hosts major industries, including pottery, food processing, leather and plastic recycling.
Approved in 2022, the project is being implemented as a public-private partnership between the Maharashtra government, which holds a 20 per cent stake, and the Adani Group, which owns 80 per cent.
The redevelopment aims to transform Dharavi into a transit-oriented urban hub with modern housing and upgraded infrastructure.
The project covers 225 million square feet (msf), including 95 msf earmarked for rehabilitation and 130 msf designated as free-sale development.
The redevelopment plan proposes more than 1,25,000 rehabilitation units. It will build nearly half within Dharavi and the remainder across six locations in the Mumbai Metropolitan Region (MMR).
The project will unlock 130 msf of free-sale area. The site lies around 5 km from Bandra Kurla Complex (BKC), one of Mumbai’s most important business districts.
The Adani Group plans to develop residential and commercial projects alongside major infrastructure facilities, including a multi-modal transport hub, three metro stations, bus depots, schools, healthcare centres, sports facilities, green spaces and pedestrian-friendly walkways.
The company aims to complete the rehabilitation phase over the next seven to eight years.
The project targets the handover of the first building on Indian Railways’ land by December 2026. It also plans to have 30,000 units under construction in FY27.
The project also includes several environmental and civic improvements. These include cleaning the Mithi River and the Deonar dumping ground.
The plan also covers the development of a 6-km mangrove creek and a Marine Drive-style promenade along the Mithi River.
Also Read: Jefferies Reaffirms Buy Ratings On Key Adani Group Power Companies
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