Adani Group to Develop 43% of Dharavi Land for Free Sale in Mumbai's Mega Redevelopment Project
The Maharashtra government has approved the Master Plan for the Dharavi redevelopment project, allocating 43% of the land for free sale in the open market. Navbharat Mega Developers Private Limited, a joint venture between the government and the Adani Group, will develop this portion.
Dharavi RedevelopmentReal EstateAdani GroupMumbaiAffordable HousingReal Estate NewsJun 04, 2025
Under this free sale component, Navbharat Mega Developers Private Limited (NMDPL), a special purpose vehicle (SPV) formed as a joint venture between the Maharashtra government and the Adani Group, will be allowed to develop property units on approximately 47.95 hectares.
According to sources, the joint venture is likely to launch the first phase of the free-sale component, including residential properties, by the end of the year, timed around the festive season. Over 50% of the residential units in this phase are expected to fall within the affordable and mid-income segments.
Land use for the Dharavi redevelopment project
According to the Master Plan presentation for the Dharavi Notified Area, which spans 251 hectares, the net developable area stands at 108.99 hectares, just over 269 acres. Of this, 47.20 hectares have been allocated for the rehabilitation of Dharavi residents, while 47.95 hectares are designated for the saleable component, which will include residential, commercial, and retail units available in the open market. Additionally, the plan earmarks approximately 40 hectares (about 99 acres) for open spaces.
A real estate consultant, speaking on condition of anonymity, said, “Given the pace of construction and the ongoing survey for the rehabilitation component, there is strong buzz in industry circles that the official launch of the sale component is likely around Diwali or by the end of the year.” The consultant also estimated that approximately 140 million sq ft of built-up area could be released for open market sale.
According to data released by CRE Matrix last month, ₹1 crore can currently buy around 682 sq ft of residential property in the Dharavi area, approximately ₹15,000 per sq ft. However, real estate consultants believe that the Dharavi redevelopment project could command nearly double this rate, given the comprehensive ecosystem and infrastructure planned as part of the project.
All about the rehab component
According to the Master Plan presentation for the Dharavi redevelopment project, an estimated 72,000 tenants are eligible for rehabilitation. Of these, over 13,000 are non-residential tenants, while the rest are residential. Under the Maharashtra Slum Rehabilitation Act, each eligible resident will receive one rehabilitation unit, regardless of the number of tenements they currently occupy. These units will be 350 sq ft in size, an upgrade from the standard 300 sq ft units offered in other slum redevelopment projects.
Project cost and timeline
According to the presentation of the Master Plan for the Dharavi redevelopment project, the project is estimated to cost over ₹95,000 crore for the Dharavi notified area. The first commencement certificate for the rehab portion's construction was received on January 14, 2025, and the end date is seven years later, on January 13, 2032. The timeline for the entire project, including the sale component, is 17 years.
Frequently Asked Questions
What percentage of Dharavi land is allocated for free sale in the open market?
43% of the total 108.99 hectares allocated for the Dharavi redevelopment project will be available for free sale in the open market.
Who is developing the free sale component of the Dharavi project?
Navbharat Mega Developers Private Limited (NMDPL), a joint venture between the Maharashtra government and the Adani Group, will develop the free sale component.
When is the first phase of the free-sale component expected to launch?
The first phase of the free-sale component, including residential properties, is expected to launch by the end of the year, timed around the festive season.
How much land is allocated for the rehabilitation of Dharavi residents?
47.20 hectares of the total 108.99 hectares are allocated for the rehabilitation of Dharavi residents.
What is the estimated cost of the Dharavi redevelopment project?
The Dharavi redevelopment project is estimated to cost over ₹95,000 crore for the Dharavi notified area.
Related News Articles
Bollywood Power Couple Shahid Kapoor and Mira Rajput Invest in Luxury Mumbai Apartment
Shahid Kapoor and his wife Mira Rajput have acquired a second luxury sea-view apartment in Mumbai's Worli area
Sustainable Real Estate: The Key to a Greener Future
The real estate sector is shifting towards sustainability, and it's about time. With the world grappling with environmental challenges, the industry's transition to eco-friendly practices is crucial.
HYDRA Cracks Down on Land Encroachment: Reclaims 43 Acres in Hyderabad
HYDRA demolishes structures belonging to politicians, VIPs, and real estate developers to reclaim land in Hyderabad.
Latest Developments in the Indian Real Estate and Infrastructure Sectors: Godrej Properties, L&T, Indian Oil, PNC Infratech, NALCO in Focus
Godrej Properties Ltd has made a strategic move by acquiring three adjoining plots totaling 6.54 acres in Kharghar, Mumbai. This acquisition comes at a time when the real estate market is witnessing robust housing demand, making it a significant step for
Baba Siddique: Unveiling the Real Motive Behind the Real Estate War and Salman Khan’s Bollywood Connections
In a recent debate, Arnab Goswami brings to light the hidden motives behind the ongoing real estate conflict and delves into the intricate ties between Baba Siddique and Salman Khan. Is the real estate war a mere distraction from deeper issues?
Navigating New SIF Regulations: When Rs 10 Lakh Isn’t Enough
While SIFs (Special Investment Funds) offer a wide range of investment opportunities, having Rs 10 lakh does not necessarily mean you should jump in. Edelweiss provides essential insights on the new regulations and the importance of due diligence.