Adani Properties Pvt Ltd – the company owned by Gautam Adani – has bid for the estimated Rs 23,000 crore Integrated Dharavi Redevelopment Project.
The Dharavi Redevelopment Authority (DRA) has received three bids, the other two being from Delhi-based housing construction company DLF and Shree Naman Group which has its office in BKC. Shree Naman Group which had earlier bid for the Motilal Nagar Mhada layout project had been disqualified for the project.
In 2018, Adani Infrastructure had bid for the project but lost out to Dubai-based SecLink Group. The tender was finally cancelled as the railway land (45 acres) was not part of the bid document. S V R Srinivas, CEO, DRA, said the technical bids will be opened in a few days, and the price bid will be known at the time.
The authority had reduced its base price from Rs 3,150 crore to Rs 1,600 crore to attract more bids. While eight companies had attended the pre-bid meeting, three finally submitted bids.
The successful bidder will form a Special Purpose Vehicle with the SRA, which is the planning authority for the 500-acre Dharavi Notified Area and the DRA. It is estimated that there are around 58,000 slum dwellers eligible for free housing and an equal number of ineligible residents who live as tenants.