Mumbai’s Dharavi, one of Asia’s largest and most densely populated informal settlements, is poised for a major transformation through an ambitious redevelopment programme that seeks to combine modern housing, upgraded civic infrastructure and enhanced public spaces within a smart city framework.
According to a recent HSBC report, the Dharavi Redevelopment Project is emerging as one of the largest urban renewal initiatives in Asia. The report draws on discussions held during the session, “Transforming Dharavi: A Model for Inclusive Urban Renewal,” at the Adani Annual Conference 2026, where project stakeholders outlined the scale, vision and implementation roadmap of the development.
Spread across nearly 600 acres in the heart of Mumbai, Dharavi is home to over one million residents and supports a vibrant ecosystem of small-scale industries, including pottery, leather, food processing and recycling businesses. The redevelopment project, approved in 2022, is being executed through a public-private partnership between the Maharashtra government and the Adani Group.
Highlighting the project’s scale, HSBC cited project officials as stating, “Dharavi project offers 95msf (million square feet) of redevelopment…. it will be a congregation of a smart city, multi-modal transport hub, public space, and rehabilitation of homes.”
The overall development spans approximately 225 million square feet, with around 95 million square feet allocated for rehabilitation and nearly 130 million square feet designated for free-sale development. More than 125,000 rehabilitation homes are planned, benefiting over one million residents. While a significant portion of these units will be developed within Dharavi, additional housing will be constructed across multiple locations in the Mumbai Metropolitan Region.
The project also incorporates major infrastructure upgrades, including three metro stations, bus depots, schools, healthcare facilities, sports amenities, green open spaces and pedestrian-friendly corridors. Environmental interventions such as the rejuvenation of the Mithi River, remediation of the Deonar dumping ground, development of a six-kilometre mangrove creek and a waterfront promenade are also planned.
HSBC noted that the project presents a substantial real estate opportunity due to its proximity to Mumbai’s Bandra Kurla Complex and combines rehabilitation, infrastructure development and environmental restoration, positioning Dharavi as a potential benchmark for inclusive urban regeneration in India.
Source: Money Control
