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 builderApnaloan.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.