Within the next six to eight months, 47.5 acres of railway property will be ready for construction as part of the Dharavi redevelopment. At this point, the Adani Group-led Dharavi Redevelopment Project Private Limited (DRPPL) is expected to finish the survey of Dharavi, according to state government authorities.
The National Real Estate Development Council (NAREDCO), the highest authority on real estate developers, made the news on August 29 during the third “The Real Estate Forum 2024” event.
Currently, 10,000 tenements inside Dharavi have officially been assessed by DRPPL, which is carrying out the survey. However, the Indian Railway officials have declared that the residential staff quarters have started to be demolished and that the process of handing over the rail land at Mahim and Matunga has commenced. DRPPL has established an office on its property, according to the rail authorities as well.
The Dharavi Redevelopment Project’s CEO, SVR Srinivas, stated that the survey of the Dharavi tenements is underway and should be finished by March 2025. The railway land will be the first to undergo construction within the next six to eight months. We have surveyed around 10,000 eligible and ineligible tenements thus far. After the survey is finished, the overall number of tenements will be known, according to Srinivas.
“NAREDCO, on behalf of its developer members, has requested further concessions in stamp duty and registration of housing properties to boost housing sales,” stated Atul Save, Minister of Housing. We shall give any such further concessions careful consideration. The minister urged real estate investors to contribute to the construction of 0.125 million homes in Mumbai for mill workers. The government is probably going to unveil new rules, such an amnesty program for SRA projects that have stagnated and a new PAP policy for redevelopment projects that need to be finished on schedule.
Source: Hindustan Times
