16 developers show interest in redevelopment worth Rs 22,000 crore.
16 developers show interest in redevelopment worth Rs 22,000 crore.
As many as 16 real estate developers have shown interest in redevelopment of 147.77 hectares at Dharavi — Asia’s largest slum cluster — which is worth Rs 22,000 crore .
A pre-bid meeting held by the state-implementing agency, Dharavi Redevelopment Project (DRP) on Saturday, was attended by developers from India and all over the world. Pre-bid meetings are held with a purpose to clarify any concerns of bidders (developers) in case of Dharavi. In the meetings, the developers discuss the scope of work, ask for more details and various doubts are cleared by the implementing agency.
“In the pre-bid meet held on Saturday, 16 real estate companies showed interest, (including) PricewaterhouseCoopers private limited, Larsen & Toubro Realty, Tata Realty and Infrastructure limited, Oberoi Realty, Kalpaturu Real Estate Company and Neptune Developers,” said Nirmal Deshmukh, chief executive officer, DRP.
Evaluation of bids will be done on technical and financial qualification and no bidder will be selected as developer for more than one sector. The project will be implemented through the PPP model and will get a Floor Space Index of 4. It will be redeveloped under development control regulation (DCR) 33 (9) (A) and 33 (10) (A). Other real estate developers who participated in the pre-bid meeting, were Omkar Realty, B.G. Shirke Construction Technology private limited, Bay Villa Properties, Alvino Realtors, Agafiya Trading Private limited, Kay Bee Developers, Era Developers and Nina Waterproofing Systems.
Under the redevelopment, 60,000 families residing in Dharavi will get houses of 350 square feet each as part of their rehabilitation. They will be rehabilitated within seven years from the date of signing the development agreement.
The state government has divided the 557-acre plot into five sectors for redevelopment. Of these, sectors one to four are with the DRP while Maharashtra Housing and Area Development Authority (Mhada) has already started redeveloping the remaining sector.
Six years ago, around 100 developers had shown interest for the redevelopment of Dharavi namely Indiabulls Real Estate, Lodha Group, Neptune Builders, DB Realty, Kalpataru and Runwal Group. However, the Congress-Nationalist Congress Party government cancelled the tenders back in 2011 due to a delay in implementing the project.
