Dharavi may go under hammer within 2 weeks

Written by Mona Mehta | Mumbai, Feb 4 | Updated: Feb 5 2008, 05:24am hrs
Finally, the bidding process for the redevelopment of Asia s largest slum Dharavi is likely to take place within the next two weeks. According to government sources, government is issuing a tender document is imminent. Mukesh Mehta, chairman, MM Project Consultants private Ltd told FE, As per the norms required for the project, 19 consortiums have been shortlisted out of the 27 applied earlier including international and national developers to bid for the Dharavi redevelopment."

Government sources said, "With the upcoming redevelopment bidding process, the government will get a premium of over Rs 3,000 crore. Following the delay in the Dharavi Redevelopment bidding process since last year and again rescheduled for January 21, 2008 , the valuation of the constructing 57,000 tenements has escalated from Rs 9,250 crore to over Rs 12,000 crore. Soon after the bidding process, the actual construction of redevelopment of Dharavi is expected to get implemented in the next six months which is scheduled to be completed in the next 7 years. Our aim is to make redeveloped Dharavi a financial hub of Mumbai.

According to Mehta, The property developers are planning to develop a ground plus 14 to 15 floor apartments unlike the earlier targeted plan of round plus seven floor apartments. Besides, in a tie-up with Jems And Jewellary Promotion Council (JAJPC), over 300 factories will be built in Dharavi to provide training to jewelers. Also, in a tie-up with National Institute of Design, the craftsman, potters will get immense opportunities to nurture their skills. Almost all dwellers within Dharavi will be provided a job within these factories and design centers so that they can asily earn up to a one lakh per annum.

Further, Mehta also added that the manufactured articles, handicrafts will be sold at a premium pricing targeted at upper class society apart from tourists and foreigners. The redevelopment process of Dharavi will give rise to branded food processing industry on the likes of Amul products so that even the organized retailers can be be major buyers o these products from Dharavi itself.