Dharavi Redevelopment Project
The Dharavi Redevelopment Project in Maharashtra has gained momentum as the state government takes significant steps to revitalize the area. With the aim of transforming Dharavi into a modern urban space, Maharashtra has directed the Slum Rehabilitation Authority (SRA) to provide Rs 300 crore for the project. This allocation is a crucial milestone towards the long-awaited redevelopment of Dharavi.
Financial Commitments for the Project
To ensure the smooth progress of the Dharavi Redevelopment Project, an upfront payment of Rs 1,000 crore is required for the additional railway land parcel included in the project. The state government has arranged Rs 800 crore, with the remaining Rs 200 crore to be paid to the Railway Land Development Authority (RLDA) at the time of agreement between the project and the RLDA.
Development Timeline and Key Players
The decision to carry out the redevelopment of sectors 1 to 7 of Dharavi was made by Maharashtra in November 2017. Adani Realty emerged as the winning bidder in the tendering process, quoting Rs 5,069 crore for the project. The ambitious project covers an area of 2.8 sq km, which is home to a significant informal leather and pottery industry employing over a lakh people.
Resettlement and Transformation
The Dharavi Redevelopment Project aims to resettle a total of 68,000 individuals, including both slum dwellers and those with commercial establishments. The state government envisions transforming the sprawling slum into a cluster of high-rises with improved urban infrastructure. This transformation is expected to enhance the living conditions and opportunities for the residents of Dharavi.
Month: Current Affairs - May, 2023
Category: States Current Affairs