Maharashtra govt received 3 bids for Rs. 20000 Cr Dharavi slum redevelopment project

Maharashtra govt received 3 bids for Rs. 20000 Cr Dharavi slum redevelopment project

On November 15, the Slum Restoration Authority (SRA) in Maharashtra announced that it had received three proposals for rehabilitation and building work. The SRA is responsible for redeveloping Dharavi, one of Asia’s largest slum clusters, at a cost of over Rs 20,000 crore.

A brief about Maharashtra govt received 3 bids for Rs. 20000 Cr Dharavi slum redevelopment project:

The Maharashtra administration released a tender for the redevelopment work on October 1, 2022. On October 11, the pre-bid meeting was arranged, and October 31 was the deadline for bid submission. Later, this was raised to include November 15.

The Dharavi Redevelopment Project’s CEO, SVR Srinivas, said: “For the project to restore Dharavi, we have received three proposals. The last day to submit proposals was November 15.”

The proposals will reportedly be opened on November 16 and examined based on their technical and financial viability following that, according to officials.

In the pre-bid meeting held on October 11, eight businesses from India, the United Arab Emirates (UAE), and South Korea expressed interest in the redevelopment of Dharavi.

Two firms had previously expressed interest in the project, but the former state administration canceled the tender in October 2020 due to technical difficulties. The two businesses were Adani Group and Sec-Link Group of Dubai.

The winner of the project will have seven years to finish the work and rehabilitate more than 56,000 families, according to the Maharashtra government’s goal to conclude the bidding process by the end of the year. A home with a carpet size of 405 square feet will be provided to each qualifying slum resident, and the project will receive a Floor Space Index (FSI) of 4. The ratio known as FSI determines the maximum height to which a building can be built.

In an exclusive interview, Srinivas claimed that the following reconstruction, Dharavi may replace the Bandra Kurla Complex (BKC). In the next 17 years, more than one crore square feet of the new building is anticipated to be built in the central Mumbai suburb of Dharavi, of which 70-80 lakh square feet will be built for rehabilitation and the remaining square feet would be sold on the open market.

In addition, the government will grant exemptions from the requirements of the development control laws as well as the authority to invest in or utilize TDRs without indexation. Once the qualifying slum dwellers have received their certificate of occupancy, the government would additionally reimburse the state GST paid by the special purpose vehicle (SPV) for 15 years as well as by the industrial and commercial enterprises.

Dharavi is home to numerous unorganized, small-scale businesses that produce goods like medications, leather, clothing, and shoes. It is one of the world’s most densely populated slums, with a population estimate of one million. Dharavi, which is situated in Central Mumbai, is near the BKC business district.

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