Dharavi, Asia’s largest slum, is set to undergo a major transformation as the Adani Group has taken up the challenge of redeveloping it in collaboration with the Maharashtra government. The project, which has been delayed for over two decades, aims to provide better living conditions and amenities to the eligible residents of the slum clusters.
Larger and Spacious Flats
One of the key features of the redevelopment plan is that the Adani Group has committed to providing new 350 sq ft flats to the eligible residents, which is 17% larger than the typical size of 300 sq ft offered in similar projects. The new flats will also come with a kitchen and a toilet, which are often lacking in the existing slum dwellings. The Adani Group has said that it will bear the additional cost of providing these larger flats, which will benefit around 70,000 families living in Dharavi .
Survey and Education Programmes
The Adani Group has also announced that it will start a survey of the slum dwellers by next week to identify the eligible and ineligible residents, as per the Slum Act and rules. The eligibility criteria are based on whether the residents have proof of living in Dharavi before January 2000 . The group has also planned to conduct education programmes for the residents to make them aware of the benefits of the redevelopment project and to address their concerns and doubts .
Investment and TDR
The Adani Group is expected to invest around $1.5 billion or Rs 12,500 crore to kickstart the project, which will be funded primarily through its internal resources and cash reserves . The group will also generate Transfer of Development Rights (TDR) from the project, which can be used or sold for constructing additional floor space in other parts of Mumbai. The Maharashtra government has recently issued a notification to allow the use of TDR without an indexation, which will give more value to the Adani Group for the TDR generated from Dharavi. The notification also mandates that all builders in Mumbai have to buy the first 40% of their required TDR from Dharavi .
Impact on Mumbai’s Economy
The Dharavi redevelopment project is expected to have a positive impact on Mumbai’s economy, as it will create new demand for construction materials, labour, services and utilities. The project will also boost the real estate market in Mumbai, as the TDR generated from Dharavi will increase the supply of floor space in other areas. Moreover, the project will enhance the productivity and income of the slum dwellers, who work in various informal sectors such as leather, pottery, recycling and garment making. The project will also improve the tax revenue of the state and municipal authorities, as more properties will come under formal assessment.
A New Future for Dharavi
The Dharavi redevelopment project is expected to change the face of the slum, which is home to over 6 lakh people, many of whom work in various informal sectors such as leather, pottery, recycling and garment making. The project will not only provide better housing and infrastructure to the residents, but also create new opportunities for employment, education, health and social welfare. The Adani Group has said that it will complete the project within seven years, and hopes to create a new future for Dharavi and its people.