The Adani Group-backed Dharavi Redevelopment Project Pvt Ltd (DRPPL), which is in charge of the ambitious reconstruction of Mumbai’s enormous slum of Dharavi, has formally changed its name to Navbharat Mega Developers Pvt Ltd (NMDPL). According to a statement from the corporation, this name change is a part of their renewed commitment to creating a “modern, inclusive, and vibrant community.”
The company clarified that the new name, Navbharat Mega Developers, is in line with its overarching goal of establishing sustainable urban development and represents its emphasis on progress, transformation, and hope. The Ministry of Corporate Affairs and the company’s Board of Directors have both accepted the rebranding, which represents a new strategy for the significant renovation project.
Initially, the Maharashtra state government owned the remaining 80% of DRPPL, with the Adani Group holding the remaining 80%. The ownership structure doesn’t change after the name change. The business wants to create a vibrant urban centre on 620 acres of land, which is about three-quarters the size of Central Park in New York. Dharavi, one of the biggest slums in Asia, is situated close to Mumbai’s international airport and is home to almost a million people who live in poor conditions with few sanitary services.
The projected $3 billion renovation plan intends to create a world-class neighbourhood and offer free apartments up to 350 square feet to qualified inhabitants. The government’s larger endeavour to turn Mumbai’s slums into contemporary, sustainable urban areas includes this project as a major component.
According to the statement, “Mega” denotes the project’s enormous scope, while “Navbharat,” which translates to “New India,” represents the project’s ability to create a brighter future. The word “Developers” refers to the company’s involvement in creating a thriving neighbourhood that will benefit present and future generations.
Through the Dharavi Redevelopment Project and Slum Rehabilitation Authority (SRA), the Adani Group and the Maharashtra government partnered to create the NMDPL, a special-purpose company. The Dharavi Redevelopment Authority (DRP) is still in charge of overseeing the project, hence the state government’s role is unaltered.
The private company’s rebranding is also intended to set it apart from the Dharavi Redevelopment Authority of the Maharashtra government, which is in charge of local urban planning. NMDPL has made it apparent that the project’s principal goal has not changed, and the government’s supervision of the reconstruction works is still crucial.
The Dharavi rehabilitation is regarded as an essential step in accomplishing India’s lofty aim of being slum-free. By changing its name, Navbharat Mega Developers is reaffirming its commitment to the national cause and to bringing about long-lasting change for the Dharavi community.
Source: Mid-day
