Mumbai, February 19: The Maharashtra government will hand over 118 acres of land located in Mukteshwar, Malad-Malwani, to the Dharavi Redevelopment Project (DRP). This move allows the Special Purpose Vehicle (SPV) New Bharat Mega Developers Private Limited (NBMDPL) to initiate planning and construction of rehabilitation buildings.
NBMDPL is a collaborative effort between the Maharashtra government and the Adani Group for the Dharavi redevelopment initiative. The land will be utilized to provide housing for residents of Dharavi who are not eligible for rehabilitation within the area.
Officials noted that this land in Malad is the third significant parcel to come under the DRP, following the lands in Kurla, where Mother Dairy is located, and the salt pans in Mulund. Primarily, residents who moved to Dharavi between January 1, 2011, and November 15, 2022, will reside here.
According to the project’s terms, these residents will be relocated to modern, planned townships within the Mumbai Metropolitan Region (MMR). The ownership of the Malad land will remain with the DRP/SRA, while the SPV will hold development rights.
The total estimated value of the 118 acres is approximately ₹540 crores, with ₹135 crores already paid by NBMDPL as a premium for development rights. Officials further stated that out of the 140 acres designated in Mukteshwar, 118 acres have been transferred, while 22 acres are still under litigation.
Overall, the state has allocated nearly 540 acres within the MMR for high-quality affordable housing under the Dharavi redevelopment project. This includes lands in Kurla, Kanjur, Bhandup, and Mulund, as well as portions of the Deonar dumping ground, to facilitate large-scale rehabilitation.
The land transfer is expected to accelerate the construction of rehabilitation housing and expedite phased redevelopment, allowing Dharavi residents to move into their new homes within a seven-year timeframe based on eligibility. It is estimated that around 1.25 to 1.5 lakh new homes will be constructed to accommodate approximately 1 million residents.
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