In a major development for one of India's most ambitious urban transformation projects, the Maharashtra Government has handed over possession of a 118-acre land parcel in Mukteshwar, located in the Malvani area of Malad, Mumbai. The land has been transferred to the Slum Rehabilitation Authority (SRA) for use under the Dharavi Redevelopment Project (DRP), marking a significant step in the large-scale rehabilitation of Dharavi residents.

The newly transferred land forms part of a larger 140-acre parcel earmarked at Mukteshwar. Of this, 118 acres have now been officially handed over, while the remaining 22 acres are currently under litigation.

The Malad site is intended to rehabilitate residents who are not eligible for in-situ housing within Dharavi. This includes residents occupying upper floors and those who settled in Dharavi between January 1, 2011 and November 15, 2022.

The ownership of the land will remain with the SRA. Development rights, however, will be held by Navbharat Mega Developers Private Limited (NMDPL), the special purpose vehicle formed to execute the project. The Dharavi Redevelopment Project is being implemented by the Adani Group through NMDPL, in partnership with the Government of Maharashtra.

The estimated value of the 118-acre land parcel is approximately ₹540 crore. NMDPL has paid ₹135 crore as a premium for development rights on this parcel.

Apart from rehabilitation housing, a portion of the Malad land will also be used for constructing apartments under the sale component, which will be offered in the open market. The revenue generated from this component is expected to support the financial viability of the overall redevelopment plan.

The state government has identified and allocated approximately 540 acres of land across the Mumbai Metropolitan Region to support the Dharavi redevelopment initiative. These include parcels in Kurla, salt pan lands in Kanjur, Bhandup and Mulund, as well as portions of the Deonar dumping ground.

Officials estimate that around 1.25 to 1.5 lakh new homes will be constructed to rehabilitate nearly 10 lakh residents of Dharavi.

Under the Maharashtra Slum Rehabilitation framework, each eligible resident will receive one rehabilitation unit measuring 350 sq ft, larger than the 300 sq ft units typically offered in other slum projects.

Residents deemed ineligible for in-situ housing will be accommodated in rental housing complexes outside Dharavi under a hire-purchase model.

The Dharavi Redevelopment Project is widely regarded as one of the largest urban regeneration initiatives globally. In November 2022, the Adani Group secured the winning bid for the project, pledging an initial investment of ₹5,069 crore.

The execution is being carried out through Navbharat Mega Developers Private Limited, a joint venture between the Government of Maharashtra and the Adani Group.

The SPV has been given a seven-year timeline to complete rehabilitation housing, while the broader redevelopment of Dharavi has a 17-year completion horizon set by the state government.

The transfer of 118 acres in Malad marks a crucial milestone in the long-pending Dharavi Redevelopment Project. By unlocking additional land for rehabilitation, the state has moved a step closer to addressing the housing needs of lakhs of residents. While execution challenges remain, the structured land allocation, financial framework and defined timelines signal renewed momentum toward reshaping one of Mumbai's most densely populated settlements into a planned urban district.