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    Govt clears Rs. 22,000cr Dharavi realty project

    Dharavi realty project
    In a recent move, the state government in Maharashtra has given its final nod for the re-development of the Dharavi slums real estate project under which 60,000 families residing in the slums will be rehabilitated in 350 sq ft tenements each under the free housing scheme at an investment of Rs. 22,000cr, said official sources, adding that the FSI approved for Dharavi is 4 and this will add another 8,000 tenements for project affected persons.

    In addition, it will also create 40,000-50,000 flats as a free sale component and to complete the project smoothly, Dharavi has been divided into five sectors of which four are being redeveloped through public-private partnership and one is being taken care of by MHADA.

    It is worth mentioning here that the Slum Rehabilitation Authority, which is the special planning authority for Dharavi, had submitted the development draft proposal to the government in June 2014 after which the only change that had been recommended was increasing the area for the BMC's effluent treatment plant from 5.07 hectares to 7.5 hectares; which has been approved by the government. The 16 real estate players incluidng Larsen & Toubro Ltd, Tata Realty and Infrastructure Limited, Pricewaterhousecoopers Pvt Ltd, B G Shirke Construction Technology Pvt Ltd, Oberoi Construction Ltd, Oberoi Realty Limited and Omkar, Kalpataru attended the recently convened meeting for the project, which will take approximately seven years to be completed.
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