‘Dharavi is a challenge for the Adani Group’:More than 10 lakh people to get 1.25 lakh new houses, says report

The Dharavi Redevelopment Project, one of the world’s largest urban regeneration initiatives, presents a “massive execution challenge” for the Adani Group as it seeks to rehabilitate more than one million (10 lakh) residents and construct over 1,25,000 housing units over the next seven to eight years, according to an HSBC Global Investment Research report. ‘One of the world’s largest urban regeneration projects’ In a report titled ‘One of the world’s largest urban regeneration projects’, HSBC said the scale and complexity of the redevelopment make it one of India’s most ambitious real estate undertakings. Calling it ‘a massive execution challenge,’ the report said Adani aims to execute the rehabilitation portion of the project ‘over the next seven to eight years,’ while simultaneously undertaking large-scale infrastructure development and environmental restoration works. The report noted that Dharavi, spread across around 600 acres in central Mumbai, houses more than a million people and is widely regarded as Asia’s largest slum.
According to HSBC, the redevelopment project involves a rehabilitation area of 95 million square feet and plans for more than 1,25,000 housing units for slum dwellers. The 95msf of rehabilitation involves more than 1 million slum dwellers for whom over 125K units are planned to be constructed,” the report said.HSBC highlighted that the rehabilitation effort will be spread across multiple locations. “Half of these are planned in the current area of Dharavi while the rest is spread across six areas in the MMR region. -HSBC report Dharavi Redevelopment Project – a PPP venture The report noted that the Dharavi Redevelopment Project was approved in 2022 and is structured as a public-private partnership between the Maharashtra government and the Adani Group. The report added that the overall redevelopment spans around 225 million square feet, making it one of the largest urban renewal projects currently under execution globally. ​