The Adani Group plans to invest between USD 4 billion and USD 5 billion in the first phase of the Dharavi redevelopment project, with the overall investment expected to rise as work progresses. Pranav Adani, Director of Adani Enterprises, said the project would go beyond housing construction to create a comprehensive urban infrastructure network.
Speaking to the news organisation, Adani said the redevelopment covers approximately 620 acres, of which around 270 acres are available for reconstruction. With nearly one million people living in Dharavi, the project involves developing more than 1.5 lakh residential, commercial and other units, covering over 200 million sq. ft.
Construction has already commenced on rehabilitation housing for more than 10,000 families, alongside commercial and industrial facilities. Eligible residents who qualify under the pre-2000 criteria will receive homes within Dharavi, while those who settled later may be accommodated elsewhere in the Mumbai Metropolitan Region (MMR), on land identified by the Maharashtra government.
Adani emphasised that the initiative is intended to improve living standards while preserving the area’s existing livelihood networks and communities. The proposed development will include schools, hospitals, hotels, entertainment centres, sports facilities, gardens and parks. Plans also involve improving the Mithi River waterfront and creating a multimodal transport network integrating metro, mass rapid transit and bus services.
Beyond Dharavi, the group is pursuing several urban development opportunities. These include a 143-acre MHADA redevelopment project in Goregaon West, where eligible residents are expected to receive 1,600 sq. ft. homes, and a township spanning more than 1,000 acres near Navi Mumbai International Airport. The latter could attract an initial infrastructure investment of USD 1–2 billion over five years.
Adani also said the group’s development pipeline across India exceeds 500 million sq. ft. Separately, the conglomerate plans to invest approximately USD 120 billion across its businesses over the next five years, reflecting its broader ambitions in infrastructure, energy and urban development.
Source: Fortune Magazine
