Dharavi redevelopment approval pending 8 months after Adani Realty’s winning bid.

The wait for the highly anticipated Dharavi Redevelopment project in Mumbai is set to get longer as the Maharashtra government is yet to issue the work order that will set the ball rolling. Eight months have passed since Adani Realty was declared the highest bidder, but so far there has been no progress in issuing the letter of authorisation for the work to start.

Officials at different State government departments admit that they are unaware of when the government resolution would be passed for approving the project developer, after which the letter of intent will be issued by the Dharavi Redevelopment Project.

Senior officials in the State government told businessline that since this was a “very large” project a decision would be taken at “the top”.

In November 2022, the Adani group had emerged as the highest bidder for the redevelopment of Mumbai’s Dharavi, one of the largest slum clusters in the country, with an initial investment commitment of ₹5,069 crore, against a base price of ₹1,600 crore. A formal notification has to come from the State government approving the bid made by the Adani group.

Sources within the Adani group said that they were still waiting for some intimation from the Dharavi Redevelopment Project to get started. Once the LoA is issued, the developer will form a special purpose vehicle and bring in 80 per cent of the equity, the remaining 20 per cent being contributed by the State government.

The wait for the highly anticipated Dharavi Redevelopment project in Mumbai is set to get longer as the Maharashtra government is yet to issue the work order that will set the ball rolling. Eight months have passed since Adani Realty was declared the highest bidder, but so far there has been no progress in issuing the letter of authorisation for the work to start.

Officials at different State government departments admit that they are unaware of when the government resolution would be passed for approving the project developer, after which the letter of intent will be issued by the Dharavi Redevelopment Project.

Senior officials in the State government told businessline that since this was a “very large” project a decision would be taken at “the top”.

In November 2022, the Adani group had emerged as the highest bidder for the redevelopment of Mumbai’s Dharavi, one of the largest slum clusters in the country, with an initial investment commitment of ₹5,069 crore, against a base price of ₹1,600 crore. A formal notification has to come from the State government approving the bid made by the Adani group.

Sources within the Adani group said that they were still waiting for some intimation from the Dharavi Redevelopment Project to get started. Once the LoA is issued, the developer will form a special purpose vehicle and bring in 80 per cent of the equity, the remaining 20 per cent being contributed by the State government.

HBL