Corporate Grapevine     

Published: July 15, 2023
Updated: July 15, 2023

Adani gets Dharavi ‘makeover’ nod

The Maharashtra government has finally given its consent to the Adani group to redevelop Dharavi into a swanky town within Mumbai.

Bets are on whether the Adanis will be able to finish the project, which has been on the drawing board for the last 50 years. Adani plans to transform the slums into modern apartments, offices and malls, apart from parks and recreation centres. If successful, Adani would gain a major foothold in Mumbai where he already runs one of the country’s busiest airports, has been shortlisted to redevelop the CST railway station and is constructing the second airport in Navi Mumbai.

The Dharavi revamp, that would cost anywhere between Rs 20,000 crore and Rs 30,000 crore, will be done in phases. In the first phase, the land near BKC and the newly created Metro station will be redeveloped.

The entire project will take at least 20-25 years for completion.