Dharavi Redevelopment: 80% Pvt Stake & 20% Govt

By Accommodation Times Bureau


The Maharashtra state cabinet on October 16 approved a special purpose company ( SPV) model to give special project status to the Dharavi redevelopment project. In this model, along with 80 % of the main partner’s share, the government will have active participation in the 20 % stock.

With this decision, the implementation of this project, which will be the focal point of development for Mumbai, will be revived, an official said.

“The project will be called for a global tender and the total investment of Rs 22,000 crores is expected to be in this project. This project will be rehabilitated at the same place as the state government has given the status of a special project”, Prakash Mehta, Housing Minister said.

He Further said that 90 acres of land will be acquired from the railway for the Dharavi Rehabilitation Project, and the contractual received by the tenderer will have to invest 80 per cent and remaining 20 per cent of the government. In Dharavi, there are about 59,160 ground floor structures on the 104-hectare plot. Also, 12,976 industrial and commercial industries are notified in the notified area. He said that all these will be accommodated in redevelopment.

In 2004, the government decided to redevelop the integrated universal redevelopment of Dharavi in 2004. Later in 2005, the Urban Development Department appointed the slum rehabilitation authority as a special planning authority. The tender process could not be processed even five times from 2007 to 2016. After this, the concept of special purpose company (SVP) has been approved in 2017 for implementing the project.

This has been decided to give the status of a special project to the Dharavi redevelopment project for proper rehabilitation of industrial, commercial and slum dwellers and tenants in Dharavi.

Granting special projects, the concession of stamp duty concession, state GST repayment, discounts on property tax, funeral premium relaxation, premium forgiveness, etc. has been approved. Similarly, the cabinet approved the proposal to jointly integrate the sector 1 to 5 and develop an integrated master plan of Dharavi redevelopment project and issue a global tender.

Along with this, Dharavi is notified area, but in the Matunga-Dadar, which is outside the purview of Dharavi redevelopment project, about 36.42 hectares ( 90 acres) and 6.91Hector land have been sanctioned under Dharavi redevelopment project. The Cabinet has approved the approved and other issues approved by the housing department, an official said.

The cabinet has approved the authority to use the authority of the Fire Department’s non-objection certificate in relation to Dharavi redevelopment buildings and the Chief Executive Officer of the slum rehabilitation authority as well as the chief executive officer of the Dharavi redevelopment project and the special task officer. Due to all these sanctions, the revival of the Dharavi redevelopment project will be revitalized.

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