The Adani Group is spearheading the Dharavi Redevelopment Project in central Mumbai, touted as Asia’s largest urban renewal initiative. This ambitious project involves rehabilitating over 1 million slum dwellers by constructing 125,000 homes. Dharavi, spanning approximately 600 acres, accommodates a densely populated slum and four major industries, as highlighted in an HSBC report.
The Dharavi Redevelopment Project, sanctioned in 2022, operates as a collaboration between the Maharashtra Government (20%) and the Adani Group (80%). The primary objective is to revamp the slum into an urban transit-oriented hub by relocating residents to high-rise buildings, enhancing infrastructure, and utilizing free space for residential and commercial ventures.
Covering an expansive area of 225msf, the redevelopment initiative designates 95msf for rehabilitation purposes and 130msf for free sale. More than 1 million slum inhabitants are slated for rehabilitation, with plans for constructing over 125,000 units. Half of these units will be within Dharavi, while the remainder will be distributed across six locations in the MMR region, as outlined in the report.
The project also unlocks a substantial 130msf of free sale area for the Adani Group, strategically positioned around 5km from Mumbai’s Bandra Kurla Complex. This area, equivalent to 2.5 times the city’s residential absorption in FY26, will witness the development of residential and commercial projects alongside significant infrastructure enhancements. The Adani Group envisions creating a multi-modal transport hub, incorporating metro stations, bus depots, educational and healthcare facilities, sports centers, green spaces, and walkways.
The Adani Group’s timeline for executing the rehabilitation segment spans seven to eight years, with the initial building on the Indian Railways’ land set for completion by December 2026. Construction of 30,000 units is slated to commence in FY27, with plans for a decade of operations and maintenance for the rehabilitated units. The project also includes environmental initiatives such as cleaning up the Mithi river and Deonar dumping ground, developing a 6 km-long mangrove creek, and establishing a promenade akin to Marine Drive along the Mithi river.
