Adani Group Secures ₹36,000 Crore Motilal Nagar Redevelopment Project in Mumbai

The Adani Group secured ₹36,000 crore redevelopment project of Motilal Nagar in Goregaon, Mumbai. This marks the group's third major acquisition in Mumbai, following the Dharavi slum redevelopment and the 17-acre Bandra Reclamation land deal. The project, covering 143 acres in the western suburb of Goregaon West, is one of Mumbai’s largest housing redevelopment initiatives.

According to a report by PTI, Adani Properties Pvt Ltd (APPL) secured the project by offering a higher built-up area than its closest competitor, Larsen & Toubro (L&T). The Maharashtra Housing and Area Development Authority (MHADA) had previously invited bids under a construction and development agency (C&DA) model.

Last week, the Bombay High Court granted MHADA the go-ahead to redevelop Motilal Nagar through this model. Under the terms, MHADA retains control over the project while working with a private developer due to economic and operational constraints. The selection of APPL was based on its offer to provide 3.97 lakh square meters of built-up housing stock to MHADA, compared to L&T’s offer of 2.6 lakh square meters. The Letter of Allotment (LoA) for the project is expected to be issued in due course.

The project aims to rehabilitate 3,372 eligible residential units, 328 commercial units, and 1,600 slum tenements under the provisions of the 1971 Slum Act. The redevelopment will be executed over a seven-year period from the official commencement date. The estimated cost of ₹36,000 crore includes provisions for infrastructure, housing, and associated urban development.

Motilal Nagar, originally developed as a housing colony, has seen significant structural deterioration over the years. The redevelopment initiative aims to provide modern housing facilities, improved infrastructure, and better civic amenities.

The Motilal Nagar project follows two other high-profile acquisitions by the Adani Group in Mumbai. The first was the Dharavi slum redevelopment project, estimated at ₹3 lakh crore, which is set to undergo a major transformation with improved housing and commercial spaces. The second was the acquisition of 17 acres in Bandra Reclamation, further strengthening the group's presence in Mumbai’s urban redevelopment sector.

The Dharavi redevelopment project, another significant initiative led by Adani Group, is progressing with the master plan expected to be ready soon. SVR Srinivas, CEO of the Dharavi Redevelopment Project, recently stated that the tenement survey is nearing completion. The overall investment in the project is estimated to be around ₹3 lakh crore, aiming to provide improved living conditions for thousands of residents.

With the acquisition of the Motilal Nagar redevelopment project, the Adani Group continues to expand its role in Mumbai’s urban transformation. The project is expected to bring significant improvements to housing and infrastructure in Goregaon