A notification from Maharashtra permits the usage of T.D.R. (Transferable Development Rights) without indexation. With this modification, the Adani Group will receive a higher value for the T.D.R. produced by the Adani Dharavi Redevelopment Project (DRP), and all city builders will be forced to purchase DRP alone for the first 40% of their total T.D.R. requirements.
Gautam Adani personally promised that the only relocation eligible Dharavi residents would have to make was to their new residences when he announced the Adani Dharavi project. They will not only be able to watch their homes being built, but they will also be able to influence it. We will supply gas, water, electricity, sewage and drainage systems, healthcare and recreational facilities, open spaces, and everything else their homes currently lack. In addition, they will have access to a top-notch hospital and school.
The anguish of inadequacy will vanish like a faded memory. A new Dharavi, humming with pride, will hum in its place. A significant obstacle, aside from relocation, is sustaining oneself. By exploring ways to support and strengthen currently operating microbusinesses and small industries and promoting new-age jobs with an emphasis on youth and women, he hopes to turn Dharavi into a modern city hub. A multifaceted approach will be used to accomplish this with the assistance of civil society and sectoral experts.
It might consist of a mix of R&D facilities, data centers, M.S.M.E. help desks, common facility centers for product- and service-based entrepreneurship models, and training centers emphasizing upskilling. Developing structured and systemic marketplaces by the Open Network for Digital Commerce (O.N.D.C.) may be another crucial component.
The Adani Dharavi Redevelopment Project’s DCR have undergone modifications
To modify the Development Control Rules (D.C.R.) for the Adani Dharavi Redevelopment Project, the Maharashtra government, headed by Chief Minister Eknath Shinde, is said to have sent a notification. This would eventually permit the usage of Transfer of Development Rights (T.D.R.) without an indexation. In the future, this might help the Adani Group with the T.D.R. produced by the slum project and oblige all city builders to purchase the first 40% of their necessary T.D.R. from D.R.P. exclusively.
The Urban Development Department of Maharashtra proposed the policy’s modifications. There is a mechanism for indexation for employing T.D.R. under the current standards. This implies that there would be no restrictions on the T.D.R.(s) use in particular areas. The paper gave an example to illustrate its point: in upscale markets like South Mumbai, just 100 square feet of T.D.R.—1,000 square feet generated from a particular project—may be utilised.
However, an equivalent amount of created T.D.R. can be used under the updated regulations. This implies that the entire land created by the T.D.R. might now be used in affluent neighbourhoods with more expensive real estate, such as south Mumbai, Bandra, Juhu, and Vile Parle.
Adani Dharavi Project’s rules change
According to reports, the Adani Dharavi Redevelopment Project’s Development Control Rules (D.C.R.) have been modified by a notification from the Maharashtra government. The Adani Group may profit from the T.D.R. produced by the slum project. The Urban Development Department of Maharashtra proposed the policy’s modifications. According to reports, the project’s D.C.R. is being tweaked by the Maharashtra administration, headed by Chief Minister Eknath Shinde, to finally permit the use of Transfer of Development Rights (T.D.R.) without an indexation.
Regarding a specific project, the research indicated that in upscale markets such as south Mumbai, a total of 1,000 square feet of T.D.R. cannot be utilised; instead only 100 square feet of T.D.R. may be utilised. However, an equivalent amount of created T.D.R. can be used under the updated regulations. This implies that the entire land created by the T.D.R. might now be used in affluent neighbourhoods with more expensive real estate, such as South Mumbai, Bandra, Juhu, and Vile Parle.
One of the provisions of the recent notification requires builders in Mumbai to purchase 40% of their necessary T.D.R. from the Dharavi Project before using any other T.D.R. The Adani Group will benefit significantly from this clause, creating a sizable ready-made market for the T.D.R. it will produce from the Adani Dharavi project. Additionally, the notification permits Gautam Adani to charge a T.D.R. rate equal to 90% of the recipient plot’s ready reckoner value.
Conclusion
The project promises improved living conditions for Dharavi residents, including access to proper sanitation, clean water, and reliable electricity. It also offers opportunities for better education, healthcare, and employment. Additionally, the project is expected to create a more vibrant and connected community with access to public spaces, parks, and recreational facilities. For the Adani Group, the project presents an opportunity to develop valuable real estate and expand its business operations.
The project also enhances Adani’s reputation as a responsible corporate citizen committed to social and environmental sustainability.
