Major Urban Revamp in Goregaon
Mumbai’s real estate sector is witnessing another major transformation as Adani Group secures the ₹36,000 crore Motilal Nagar redevelopment project in Goregaon (West). This marks the conglomerate’s second significant urban renewal initiative in Mumbai, following its Dharavi redevelopment project.
Revitalizing Motilal Nagar
The Motilal Nagar I, II, and III redevelopment, spread over 143 acres, is one of the largest housing transformation projects in the city. The Maharashtra Housing and Area Development Authority (MHADA) is spearheading this initiative to modernize aging residential infrastructure.
Adani Properties Pvt Ltd (APPL) outbid competitors, including Larsen & Toubro (L&T), by committing to a 3.97 million square meter built-up area for redevelopment.
Government Green Light & Project Guidelines
With approval from the Mumbai High Court, MHADA has been permitted to proceed with the redevelopment under a Construction and Development Agency (C&DA). The project is classified as a ‘special project,’ ensuring that MHADA maintains ownership while utilizing private sector expertise for execution.
Key safeguards in the project include:
- MHADA retains full ownership of the land.
- Developers cannot mortgage or transfer rights without prior approval.
- Existing residents’ interests are protected against misuse of redevelopment rights.
Scope of Redevelopment
The Motilal Nagar redevelopment project is expected to be completed within seven years and will include:
- Rehabilitation of 3,372 residential units
- Redevelopment of 328 commercial units
- Incorporation of 1,600 slum tenements under the 1971 Slum Act
- Creation of new public infrastructure, roads, and green spaces
Beyond housing, the project aims to improve civic conditions, addressing challenges like flooding and waterlogging, while enhancing the overall urban landscape.
Adani Group’s Expanding Footprint in Mumbai
With this latest project, Adani Group strengthens its position as a key player in Mumbai’s urban transformation. The company is already spearheading the Dharavi redevelopment, which covers 620 acres, providing eligible residents with free housing units up to 350 sq. ft.
Securing the Motilal Nagar redevelopment aligns with Mumbai’s long-term urban development goals, reinforcing Adani Group’s role in shaping the city’s modern infrastructure. The Letter of Allotment (LoA) is expected soon, paving the way for the project’s initiation.
