DHARAVI REDEVELOPMENT PROJECT - GOVERNMENT SCHEME
News: Adani
Group wins Dharavi redevelopment bid: what is the long-delayed project?
What's in the news?
● The
Adani Group has won the bid for the
long-delayed Dharavi redevelopment project, which aims to transform a huge slum
cluster, located on prime commercial land in Mumbai.
Key takeaways:
● The
Dharavi redevelopment project has been stuck for almost two decades. Dharavi, considered
one of the largest slums in the world, sits
on real estate gold.
● Its
redevelopment will involve a massive investment of money upfront, amid tricky
complications of land acquisition and rehabilitation.
Dharavi Redevelopment Project:
● Dharavi
is a mere stone’s throw from India’s richest business district, the Bandra-Kurla Complex, where commercial
office premiums are among the highest in the country.
● The
slum sprawl, spread over 2.8 sq.km, is home to an informal leather and pottery industry which employs over a lakh
people.
● The
state government had envisaged this sprawl to be transformed into a cluster of
high-rises with improved urban infrastructure.
● It
entailed resettling 68,000 people, including slum dwellers and those with commercial
establishments.
● The
state was to provide 300 sq.ft houses for free to residents with proof that
their slum structure was in existence before January 1, 2000, and for a price
to those who settled in Dharavi between 2000 and 2011.