Revamping Slums: Dharavi's Redevelopment Model to Inspire Other States
Dr. Niranjan Hiranandani, Chairman of Hiranandani Group, believes the Dharavi redevelopment scheme will set a new standard for slum redevelopment across India.
Slum RedevelopmentDharaviReal EstateHiranandani GroupAdani GroupReal EstateJul 08, 2024
The Adani Group, in a joint venture with the Maharashtra government, has secured the Dharavi slum redevelopment project through open international bidding. The company will construct housing and commercial units, which will be handed over to the Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA) of the Maharashtra government for allocation based on survey results.
One of the key features of the project is the allocation of 350 square feet flats, 17% larger than those typically provided in other Slum Rehabilitation Authority (SRA) schemes in Mumbai. Additionally, the project includes 10 years of free maintenance and allows for 10% commercial space within residential premises, ensuring sustainable revenue for housing societies. Eligible businesses will receive free business premises, and a five-year state GST rebate is offered to enhance profitability, integrate them into the formal economy, increase competitiveness, and create growth opportunities.
The Dharavi Redevelopment Project is a pioneering initiative that aims to improve the quality of life for over one million residents of Dharavi. The project's focus on sustainable multi-modal transport systems and state-of-the-art infrastructure utilities will create a thriving neighbourhood, setting a new standard for slum redevelopment in India.
Information
Hiranandani Group, a leading Indian real estate developer, has been instrumental in transforming the urban landscape of Mumbai. With a focus on innovation and sustainability, the group has developed several iconic projects, including Hiranandani Gardens in Powai and Hiranandani Estate in Thane.
Hiranandani Group is a Mumbai-based real estate developer founded by Dr. Niranjan Hiranandani. The group has been at the forefront of India's real estate industry, with a focus on developing sustainable and innovative projects.
Frequently Asked Questions
What is the Dharavi Redevelopment Project?
The Dharavi Redevelopment Project is a first-of-its-kind initiative that seeks to transform Asia's largest slum into a world-class city, creating a sustainable and thriving neighbourhood.
Who has secured the Dharavi slum redevelopment project?
The Adani Group has secured the Dharavi slum redevelopment project via open international bidding, in a joint venture with the Maharashtra government.
What is the size of the flats to be allocated under the project?
The project will allocate 350 square feet flats, 17% larger than those typically provided in other SRA schemes in Mumbai.
What benefits will eligible businesses receive under the project?
Eligible businesses will receive free business premises, and a five-year state GST rebate is offered to enhance profitability, integrate them into the formal economy, increase competitiveness, and create growth opportunities.
What is the focus of the Dharavi Redevelopment Project?
The project's focus is on improving the quality of life for over one million residents of Dharavi, with a focus on sustainable multi-modal transport systems and state-of-the-art infrastructure utilities.
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