Adani Group Wins ₹36,000 Crore Mumbai Project

Adani Properties Pvt Ltd, a subsidiary of the Adani Group, has emerged as the highest bidder for the redevelopment of Motilal Nagar in Mumbai, with a bid of Rs 36,000 crore. This project, spanning 143 acres in Goregaon (West), is one of Mumbai's largest housing redevelopment initiatives, following Adani's involvement in the Dharavi slum redevelopment. The Maharashtra Housing and Area Development Authority (MHADA) retains control over the project, working with Adani as a Construction and Development Agency due to its financial and technical limitations. Adani secured the bid by offering 3.97 million square meters of built-up area, surpassing its competitor L&T. The redevelopment includes rehabilitating 3,372 residential units, 328 commercial units, and 1,600 slum tenements over a seven-year period. The Bombay High Court has approved the project, which aims to create a well-integrated community while preventing any sale or transfer of land rights without MHADA's permission.