Adani Group Addresses Allegations of Irregularities in Dharavi Redevelopment Project

In response to recent accusations of irregularities surrounding the Dharavi Redevelopment Project (DRP), the Adani Group released a statement dismissing claims of favoritism and asserting a commitment to transparent urban development.

In July Maharashtra Government has given the green light to Adani Group’s bid of Rs 5,069 crore for the Dharavi redevelopment, while DLF’s offer of Rs 2,025 crore is approved. The technical bidding disqualified Naman Group. The overall project is anticipated to incur a cost of approximately Rs 23,000 crore.

The Adani Group refuted allegations of policy manipulation, emphasizing that the transfer of development rights (TDR) in the Dharavi Notified Area was permitted by government resolutions in 2018 and 2022. The 2022 tender, awarded through open competition, adhered to due process.

Contrary to reports suggesting undue benefits to the Adani Group, the company highlighted that the government’s final notification capped the minimum TDR usage in other projects at 40%, deviating from the previously stated 50% in the September 2022 GR.

Moreover, the government’s November 7, 2023 notification imposed a cap on the pricing of TDR, restricting the maximum sale price to 90% of the ready reckoner rate of receiving plots. This measure aimed to prevent arbitrary pricing of TDR.

To enhance transparency, the BrihanMumbai Municipal Corporation (BMC) will develop a portal for real-time updates on TDR generated from the DRP. The Adani Group condemned “baseless and malicious” allegations, asserting that the regulatory transparency of the process remains intact.

Recalling the state government’s decision in December 2022 to award the DRP bid to Adani Realty for Rs 5,069 crore, the company reaffirmed its dedication to the ambitious redevelopment initiative, positioned as the largest of its kind in India.