Dharavi Redevelopment: 1.4 Lakh Units to be Resettled, Only 35-40% of Land to be Used

Dharavi Redevelopment: 1.4 Lakh Units to be Resettled, Only 35-40% of Land to be Used

Dharavi Redevelopment: 1.4 Lakh Units to be Resettled, Only 35-40% of Land to be Used

The final master plan for the Dharavi Redevelopment Project (DRP) is set to be published within a month, outlining land use patterns across 590 acres. This blueprint will mark the last step before slum rehabilitation begins, with only 35-40% of the land mass designated for construction in a zone where the population density is an astounding 2.2 lakh per sq. km, compared to Mumbai’s average of 23,000 per sq. km. The estimated 10 lakh population includes a large number of migrant workers, making Dharavi one of the world’s densest urban sprawls.

The master plan estimates 1.4 lakh units, comprising residential, commercial, and industrial spaces, will be impacted. Of these, at least half are ground-floor structures that will be resettled within Dharavi, while upper-floor units will be rehabilitated elsewhere. The project, expected to require an investment of 2-3 lakh crore, will be developed under BMC’s Development Control Regulations (DCR) 33(9A) and 33(10A). The rehabilitation scheme will cover 10 crore sq. ft., including land outside Dharavi, while an additional 14 crore sq. ft. will be allocated for free sale and Transfer of Development Rights (TDR), which builders must use as per new government mandates.

To prevent new illegal constructions, authorities have numbered 84,000 structures, with 53,000 units surveyed so far. Eligible households with pre-2000 documentation will receive free 350 sq. ft. homes, while those residing in Dharavi between 2000 and 2011 will be provided alternative housing outside Dharavi for 2.5 lakh. Ineligible occupants will have access to rental housing units of 300 sq. ft.. The rehabilitation component alone is expected to cost 25,000 crore, with the lead developer, Adani Group, mobilizing 2,000 crore so far and seeking approval to raise 2,000-3,000 crore more. With Dharavi's massive transformation on the horizon, the project is set to redefine urban development in Mumbai's largest informal settlement.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/