The state government on Sunday deferred the date to open the financial bids for the Dharavi Redevelopment Project to July 30. The bids were scheduled to be opened on July 20.
The government took the decision as it is yet to issue a final notification of the Dharavi master plan. Also, some developers sought time to work out their financial proposals, which was accepted by the government.
There are 14 bidders in the fray. Some of the consortium bidders are; M/s DB Realty Ltd, M/s Associated Construction and Investment Co. LLC (Dubai) and M/s Conwood Agencies Pvt Ltd, M/s Emaar MGF Land, M/s Expanse Conbuild Pvt Ltd (Dubai) and M/s Exponent Conbuild Pvt Ltd (Dubai), C. M/s Kalpataru Power Transmission, M/s Magarpatta Township Developer and Construction Co Ltd
and M/s Putra Perdana Construction, Malaysia, M/s Unitech and M/s PT Mandara Permaia (Indonesia).
The DRP has been much awaited. Considering Dharavi’s proximity to the Bandra-Kurla Complex, the suburban business district commands very high real estate value.
Starting from Rs15,000 per sq ft, the objectives of the DRP were not exactly altruistic. In exchange for rehabilitating about 60,000 shanties (divided into five zones of approximately 100 acres each) spread across 542 acres with free homes of 300 sq ft and commercial units, the developers will have the right to develop about 4.3 crore sq ft to sell in the open market.
