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Dharavi’s Transformation Begins Adani’s recent bid on Dharavi signals a Brighter Future for Mumbai’s Slum

Adani Group, a global company headquartered in India, plans to invest $1.5 billion in the much-anticipated Adani Dharavi project.

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Dharavi’s Transformation Begins Adani’s recent bid on Dharavi signals a Brighter Future for Mumbai’s Slum

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  1. DHARAVI’S TRANSFORMATION BEGINS: ADANI’S RECENT BID ON DHARAVI SIGNALS A BRIGHTER FUTURE FOR MUMBAI’S SLUM

  2. Adani Group, a global company headquartered in India, plans to invest $1.5 billion in the much-anticipated Adani Dharavi project. Dharavi, located in the heart of Mumbai, is one of Asia’s biggest slums. The initiative intends to turn Dharavi into a contemporary, sustainable urban area by enhancing people’s living conditions. Adani’s investment will help to build infrastructure such as houses, schools, healthcare facilities, and recreational areas. Over a million people live in highly packed, inadequate housing conditions in Dharavi.

  3. DHARAVI SLUM IN MUMBAI AND ADANI’S ASPIRATIONS TO REBUILD IT THROUGH THE ADANI DHARAVI PROJECT Indian billionaire Gautam Adani wants to transform Mumbai’s Dharavi slum into a contemporary metropolitan hub but admits that relocating its 1 million people will be difficult. The following is a timeline of the development of Adani Dharavi. 1800s: Dharavi’s rise correlates with migration into Bombay, now known as Mumbai, in the 1800s and by the late 1800s, potters, leather tanners, artists, and embroidery workers had established commerce and business in the area. Authorities claim that squatters camped on these sites and erected chaotic dwellings.

  4. THE PROJECT WILL BE LARGELY SUPPORTED BY ADANI GROUP INTERNAL RESOURCES The Adani Group may invest roughly $1.5 billion or Rs. 12,500 crores to commence the Dharavi redevelopment project in Mumbai. The Adani Dharavi project will be funded mainly by internal Adani Group resources, supported by considerable financial reserves. For this reason, a Special Purpose Vehicle (SPV) has been created, with the Adani Group owning 80% and the Maharashtra government owning 20%.

  5. The reconstruction of Dharavi was initially suggested in 2004, but it needed to be protected from several legal challenges and arguments that stopped it from moving further. Global bidders were asked to bid on the project, but Adani Group came out on top, outbidding DLF. The Maharashtra government gave the Adani Group permission to begin construction on the 590-acre slum near Mumbai in July. Over 900,000 people live in this highly populated neighbourhood, home to countless small companies. The ambitious project’s goal is Dharavi’s makeover, which involves the creation of modern residences, workplaces, and shopping complexes. The project also includes the development of a Metro rail line that will connect Dharavi to other sections of Mumbai. This contains a station near “T Junction” that relates to Nariman Point and the commercial sector Bandra Kurla Complex (BKC) as well as Mumbai International Airport. A new road will also connect Dharavi to the Bandra-Worli Sea Link, further improving connectivity.

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