The Dharavi Redevelopment Project, one of the largest urban regeneration programmes globally, presents a 'massive execution challenge' for the Adani Group as it aims to rehabilitate over one million residents and construct more than 125,000 housing units over the next seven to eight years, according to a report by ANI citing an HSBC Global Investment Research report.
Scope of the Project
In a report titled 'One of the world's largest urban regeneration projects', HSBC highlighted that the scale and complexity of the redevelopment make it one of India's most ambitious real estate ventures. The report termed it 'a massive execution challenge', noting that Adani plans to complete the rehabilitation phase over the next seven to eight years while simultaneously undertaking major infrastructure and environmental restoration works.
Dharavi, spread across approximately 600 acres in central Mumbai, is home to more than one million people and is widely recognised as Asia's largest slum. The redevelopment involves a rehabilitation component spanning 95 million square feet and the construction of over 125,000 housing units for eligible residents.
Rehabilitation Plans
'The 95 million square feet of rehabilitation involves more than one million slum dwellers for whom over 125,000 units are planned to be constructed,' the report said. HSBC noted that the rehabilitation exercise would be spread across multiple locations. 'Half of these are planned in the current area of Dharavi while the rest is spread across six areas in the Mumbai Metropolitan Region (MMR),' it added.
The report said Adani has identified clear execution targets. The first building on the land parcel of Indian Railways is expected to be handed over in December 2026, while construction of around 30,000 units is expected to be underway in the financial year 2027.
Infrastructure and Environmental Upgrades
Beyond housing, the redevelopment plan includes a range of infrastructure and civic upgrades. 'The company also plans to provide 10 years of operation and maintenance for the rehabilitated units, clean up the Mithi River and Deonar dumping ground, develop a 6-kilometre long mangrove creek and a Marine Drive-style promenade along the Mithi River, amongst other infrastructure upgrades,' the report said.
Public-Private Partnership
The Dharavi Redevelopment Project was approved in 2022 and is being implemented as a public-private partnership between the Maharashtra government and the Adani Group. HSBC said the project aims to transform Dharavi into 'an urban transit-oriented hub' through rehabilitation, infrastructure modernisation and the development of residential and commercial real estate.
According to the report, the overall redevelopment covers around 225 million square feet, making it one of the largest urban renewal projects currently under execution anywhere in the world.
