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Dharavi redevelopment attracts leading developers

Maharashtra government's plans to redevelop Dharavi slums, Asia's largest slums which occupies 535 acres land between Mumbai's suburbs of Sion and Kurla on one side and Bandra on the other side, has attracted major national and international builder

Apnaloan.com Research Bureau

10 Aug 2007

The Maharashtra government's plan to redevelop Dharavi, Asia's largest slum which occupies 535 acres land between Sion and Kurla on one side and Bandra on the other side, has attracted major national and international builders.

Many big developers such as DLF, Housing Development and Infrastructure (HDIL), Hiranandani Construction, Kalptaru Properties, Trinity Capitals LLC, Lokhandwala Group, Reliance Anil Dhirubhai Ambani Group and others have shown interest in the project.

The agenda of the Maharashtra government is to make space in the heart of the city for residential and commercial properties and to improve the quality of lives of people living in the slums. The government's plan of redevelopment includes schools, colleges and hospitals.

Developers are attracted to this project because they have the support of the state government and they have permission to build additional commercial and residential units in prime areas, in return for providing free houses for slum dwellers.

Others cities like Bangalore, Kolkata and Chennai are also developing slums in the footsteps of Mumbai. These projects are being funded by various banks such as Asian Development Bank and National Housing Bank and being developed by various builders such as Simplex Infrastructure, Nagarjuna Constructions and Tantia Constructions.