Bid submission by 28 Dec 2018

The Maharashtra government has invited global tenders for the long-due redevelopment of Dharavi, one of Asia’s largest slums located on prime land in Mumbai.

Minimum stipulated bid for the 593-acre slum has been set at Rs.3,150 crore

Selected bidder will from a special purpose vehicle ((SPV) with 80% stake worth Rs.400 crore. The state government will take 20% stake for Rs.100 crore.

The SPV will have to provide free housing for eligible slum dwellers and occupants as well as infrastructure and amenities, states Dharavi Redevelopment Project that falls under the Slum Rehabilitation Authority.

The SPV will be entitled to construct free sale area and sell in the open market. The redevelopment will get floor space index or permissible rights of four times.

The tenders will be available between 28 Nov and 28 Dec 2018 which is also the last date for submission of the bids.

Dharavi will be redeveloped as an integrated planned township under Slum Rehabilitation Authority. The redevelopment will be a single project, a change from previous plan of dividing it into five sectors. fiinews.com