The Dharavi Redevelopment Project, one of the world’s largest urban regeneration programmes, presents a “massive execution challenge” for the Adani Group as it seeks to rehabilitate more than one million residents and build over 125,000 housing units over the next seven to eight years, ANI reported citing an HSBC Global Investment Research report.In a report titled “One of the world’s largest urban regeneration projects”, HSBC said the scale and complexity of the redevelopment make it one of India’s most ambitious real estate projects.Calling it “a massive execution challenge,” the report said the developer plans to complete the rehabilitation phase of the project “over the next seven to eight years” while simultaneously undertaking major infrastructure and environmental restoration works.The report noted that Dharavi, spread across around 600 acres in central Mumbai, is home to more than one million people and is widely regarded as Asia’s largest slum.According to the analyst, the redevelopment involves a rehabilitation component spanning 95 million square feet and the construction of more than 125,000 housing units for eligible residents.“The 95msf of rehabilitation involves more than 1 million slum dwellers for whom over 125K units are planned to be constructed,” the report said, adding the rehabilitation exercise would be spread across multiple locations.“Half of these are planned in the current area of Dharavi while the rest is spread across six areas in the MMR region,” it added.The report said Adani has identified clear execution targets for the project. “The first building on the land parcel of Indian Railways” is expected to be handed over in December 2026, while construction of around “30K units” is expected to be underway in FY27.Beyond housing, the redevelopment plan includes a range of infrastructure and civic upgrades.“The company also plans to provide 10 years of O&M for the rehabilitated units, clean up the Mithi river and Deonar dumping ground, develop a 6km long mangrove creek and a Marine Drive style promenade along the Mithi river, amongst other infrastructure upgrades,” the report said.The report noted that the Dharavi Redevelopment Project was approved in 2022 and is being implemented as a public-private partnership between the Maharashtra government and the Adani Group.HSBC said the project aims to transform Dharavi into “an urban transit-oriented hub” through rehabilitation, infrastructure modernisation and the development of residential and commercial real estate. According to the report, the overall redevelopment covers around 225 million square feet, making it one of the largest urban renewal projects currently under execution anywhere in the world.
