Gautam Adani's Group Secures Major Mumbai Redevelopment Project

The Adani Group has secured the redevelopment project for Motilal Nagar in Mumbai, valued at Rs 36,000 crore. The project aims to transform the area into modern apartments. It marks Adani's second major redevelopment in Mumbai, following the Dharavi project. MHADA retains control over the development.

In a significant move, billionaire Gautam Adani's group has emerged as the highest bidder for the Rs 36,000 crore redevelopment of Mumbai's Motilal Nagar, according to informed sources.

This massive housing project covers 143 acres in the Goregaon suburb, marking a pivotal shift towards modern apartments. The development is expected to alter the landscape and enhance urban living conditions in the area. Adani Properties Pvt Ltd outbid its closest competitor, L&T, by offering a larger built-up area, sources revealed.

This project follows Adani Group's ongoing redevelopment of the Dharavi slum, one of Asia's largest. With MHADA maintaining full control, the project will tackle the issues of illegal construction and improve the infrastructure, while ensuring the protection of residents' rights.

(With inputs from agencies.)