The company of Adani Group, Gautam Adani, Chairman of Adani Group, has won bid for a big project in Mumbai and the project is worth Rs 36,000 crore. It is included in Mumbai’s largest housing-development projects and will complete the Adani Properties Private Limited.
Adani Properties bid the most
Adani Properties Pvt Ltd, a company of Adani Group, is included in the housing development project spread over 143 acres in Motilal Nagar I, II, III located in Goregaon West, Mumbai. The Adani Properties (APPL) emerged as the most bidding company for a redevelopment project of Rs 36,000 crore, which introduced a 3.97 lakh square meter builtup area. After winning the bid, now the allocation letter (LOA) is expected to be released soon.
Bombay High Court gave permission
Explain that the Bombay High Court allowed the Maharashtra Housing and Area Development Authority (MHADA) to develop Motilal Nagar through the Construction and Development Agency (C&DA). After this, it has been declared a special project by the state government, which is controlled by Mhada, although it is working through the agency. Under the project, 3,372 residential units, 328 eligible commercial units and 1,600 eligible slums will be rehabilitated under MHADA and illegal constructions will be removed.
Adani Group’s second major redevelopment plan
The Adani Group emerged as the most bidder for the Rs 36,000 crore redevelopment project in Motilal Nagar, Mumbai and is the second major project after the Dharavi redevelopment project. It is worth noting that Indian billionaire Gautam Adani won the Slum Area Dharavi (Dharavi) project of Dharavi (Dharavi) in Mumbai with a bid of $ 610 million and at the same time the new company Adani Properties (Adani Properties) were formed. Now this company has won the second big bid.
Resident said- work should be done with transparency
When India Today visited the Motilal Nagar site, the local residents said that they were not aware that MHADA is incorporating private developers for the project and if there is no transparency in this project, they would protest. On the other hand, reacting to the Adani Group receiving the redevelopment project, Shiv Sena (Uddhav Baisaheb Thackeray) MLA Aditya Thackeray also said that there should be transparency in the project, if there is any shortcoming, we will raise issues.