After securing the Dharavi redevelopment project, the Adani Group has emerged as the highest bidder for the Rs 36,000 crore Motilal Nagar redevelopment in Mumbai. Covering 143 acres in Goregaon (W), this is one of the city’s largest housing projects.
Highest Bidder with Maximum Built-up Area
Adani Properties Pvt Ltd (APPL) outbid L&T by offering a larger built-up area, making it the top contender for the project. A formal Letter of Allotment (LoA) will be issued soon.
Government and Court Approval for Redevelopment
The Bombay High Court recently allowed the Maharashtra Housing and Area Development Authority (MHADA) to proceed with the redevelopment through a Construction and Development Agency (C&DA). MHADA retains control but requires external support for execution due to financial and technical constraints.
Project Scope and Impact
The project aims to transform Motilal Nagar into a modern residential complex while eliminating illegal constructions. The redevelopment plan includes:
- 3,372 eligible residential units under MHADA
- 328 eligible commercial units
- 1,600 eligible slum tenements
Adani’s Offer Surpasses Competitors
As per tender conditions, C&DA must provide 3.83 million square meters of housing stock. APPL secured the bid by offering 3.97 million sq mt, significantly more than L&T’s 2.6 million sq mt.
Strict Development Guidelines
The private developer cannot mortgage, raise finance, or transfer rights on the land without MHADA’s approval. This ensures protection for residents and prevents misuse of redevelopment rights.
A Holistic Approach to Infrastructure Development
The Bombay High Court emphasized that piecemeal redevelopment by individual housing societies would not serve long-term urban planning needs. Instead, an integrated approach will help address issues like flooding and waterlogging, ensuring better infrastructure and livability for Motilal Nagar’s residents.
