The authority had reduced its base price from ₹3,150 crore to ₹1,600 crore to attract more bids. While eight companies had attended the pre-bid meeting, three finally submitted bids.
The selected bidder will form a Special Purpose Vehicle with the SRA, which is the planning authority for the 500-acre Dharavi Notified Area and the DRA. It is estimated that there are around 58,000 slum dwellers eligible for free housing and an equal number of ineligible residents who live as tenants.
