The Maharashtra government is set to allocate around 180 acres of land in Madh Island, near Malad (West), to support the Dharavi Redevelopment Project (DRP), led by the Adani Group. This initiative includes affordable housing and infrastructure improvemen
MaharashtraDharavi RedevelopmentMadh IslandReal EstateAffordable HousingReal Estate MaharashtraOct 14, 2024
The Maharashtra government has allocated approximately 180 acres of land in Madh Island for the Dharavi Redevelopment Project (DRP).
The Dharavi Redevelopment Project is led by the Adani Group.
Currently, real estate prices in Madh Island range between INR 2,000 and INR 2,600 per square foot. However, these values can drop by 40% in Coastal Regulation Zone (CRZ) areas, bringing them closer to INR 1,000 per square foot.
The MLA housing society was initially planned for Versova, but due to Coastal Regulation Zone (CRZ) restrictions, the project was shifted to Madh Island.
Alongside the DRP, the Maharashtra Cabinet has approved several other projects, including irrigation schemes, the establishment of new educational institutions, and amendments to the Maharashtra Public Libraries Act.
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