Mumbai, February 19: The Maharashtra government will hand over 118 acres of land located in Mukteshwar, Malad-Malwani, for the Dharavi redevelopment Project (DRP). This transfer will enable the Special Purpose Vehicle (SPV) New Bharat Mega Developers Private Limited (NBMDPL) to initiate planning and construction of rehabilitation buildings.
New Bharat Mega Developers Private Limited is a joint venture between the Maharashtra government and the Adani Group for the Dharavi redevelopment initiative.
The allocated land will provide housing for residents of Dharavi who are not eligible for rehabilitation within the area.
Officials noted that this land in Malad is the third significant parcel to come under the DRP, following the land from Mother Dairy in Kurla and the salt pans in Mulund.
Primarily, this site will accommodate upper-floor residents and those who moved to Dharavi between January 1, 2011, and November 15, 2022.
According to project terms, these residents will be relocated to modern, planned townships within the Mumbai Metropolitan Region (MMR).
The official further explained that, similar to other allocated plots, the ownership of the Malad land will remain with the DRP/SRA, while the SPV will hold development rights.
The total value of the 118 acres is estimated at approximately ₹540 crores, with ₹135 crores already paid by NBMDPL as a premium for development rights.
He added, “Out of the 140 acres designated in Mukteshwar, 118 acres have been transferred so far, while 22 acres are still under litigation.”
Overall, the state has allocated around 540 acres within the MMR for high-quality affordable housing under the Dharavi Redevelopment Project.
This includes land in Kurla, salt flats in Kanjur, Bhandup, and Mulund, as well as portions of the Deonar dumping ground, to facilitate large-scale rehabilitation.
The land transfer is expected to accelerate the construction of rehabilitation housing and expedite phased redevelopment, allowing Dharavi residents to move into their new homes within a seven-year timeframe based on eligibility.
It is estimated that approximately 1.25 to 1.5 lakh new homes will be built to accommodate the rehabilitation of around 1 million residents.
