The Maharashtra government is yet to issue the work order to Adani Realty, which was declared the highest bidder for the redevelopment of Dharavi in Mumbai. Thus, a formal notification from the state government approving the bid is still awaited.

In November 2022, the Adani Group had emerged as the highest bidder for the redevelopment of the slum cluster, with an initial investment commitment of Rs 5,069 crore.

The proposed construction of the rehabilitation facilities, amenities and infrastructure will be carried out for seven years from the date of the commencement certificate during the first phase of the project. The total project is estimated to cost about Rs 20,000 crore.

Once the letter of award (LoA) is issued, the developer will form a special purpose vehicle (SPV) and bring in 80 percent of the equity, while the remaining 20 percent will be contributed by the state government. The total area spans 2.8 sq. km.