The Maharashtra government has allocated a 118-acre land parcel in Mukteshwar, Malad-Malvani, to the Dharavi Redevelopment Project (DRP). This move allows the Navbharat Mega Developers Private Limited (NMDPL), a special purpose vehicle (SPV) between the Maharashtra government and the Adani Group, to initiate the planning and construction of rehabilitation buildings.
The land in Malad will be utilized to accommodate Dharavi residents who do not qualify for in-situ rehabilitation within Dharavi itself. This parcel marks the third significant land acquisition by the DRP, following the Mother Dairy Land in Kurla and the Jamas saltpan land in Mulund.
Primarily targeting upper-floor residents and individuals who settled in Dharavi between January 1, 2011, and November 15, 2022, the site will host modern townships within the Mumbai Metropolitan Region (MMR) as per project terms and conditions.
Ownership of the 118-acre Malad land will be retained by DRP/SRA, while the development rights will be held by the SPV. The land’s total value is estimated at approximately Rs 540 crore, with NMDPL having already paid Rs 135 crore as a premium for development rights.
