Wednesday, January 19, 2022

Dharavi revamp project: Maharashtra to rope in new developer consortium

Fadnavis said a pragmatic approach to ensure financial feasibility and provide better living standards to slum dwellers in Dharavi is the highest priority, glitches which have delayed the project have been identified.

Written by Shubhangi Khapre | Mumbai |
August 13, 2016 2:37:07 am
Dharavi The failure of international competitive bidders to come forward for the project has the government worried.

The state government is roping in a new developer consortium for the five sectors of the Rs 25,000-crore Dharavi redevelopment project. The government is also considering the possibility of breaking the five sectors into smaller units to attract bidders. However, the housing department has ruled out the possibility of giving more incentives to developers.

The project team of housing and urban planners is looking at multiple, low-cost economically viable models to transform Dharavi “with a human face”, despite apprehensions of a sluggish real estate sector and high risks which are being cited by international developers to seek higher concessions from the government. Chief Minister Devendra Fadnavis has directed the project team to explore various models before the meeting to be held next week.

The failure of international competitive bidders to come forward for the project has the government worried.

Over the last eight months, the state government went out of its way to attract investors and developers. Apart from the 33 per cent Transfer of Development Right (TDR) outside Dharavi to make the project commercially viable, the government has relaxed the base payment premium to be deposited to the government. The eligibility criteria of the housing township and infrastructure development was also diluted.

Fadnavis said a pragmatic approach to ensure financial feasibility and provide better living standards to slum dwellers in Dharavi is the highest priority, glitches which have delayed the project have been identified.

The government has said the long term housing and slum redevelopment policy will give developers assured returns on the commercial component of the project, making it profitable.

Official records show there are 60,000 families in Dharavi, but unofficially, the number could be higher by as much as 10-15,000. The total housing stock to be created is estimated to be 1.10 lakh.

Debashish Chakraborty, senior officer in-charge of the Dharavi project, said, “We are working on various models which would give impetus to the redevelopment project. The entire state government team of officers in the Slum Redevelopment Authority is committed to the development of Dharavi. The cause remains undiluted. We are looking at other alternatives after the international competitive bidding process failed.”

He added, “The redevelopment of Dharavi will bring all the standards prescribed in the urban planning proposals which have been approved by the state government.”

Start your day the best way
with the Express Morning Briefing

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Mumbai News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
X