Agreement for the 47.5 acres of railway land signed in Dharavi
According to Clara Lewis, the Dharavi Rehabilitation Authority (DRA) and the Indian Railways inked a “definitive agreement” on Tuesday to transfer 47.5 acres of railway property in Dadar for the Dharavi redevelopment project.
Devendra Fadnavis, the deputy chief minister who was in Delhi for the discussion, tweeted that the improvement would open the door for quick monitoring of the large-scale project. The physical turning over of land to the authority should happen shortly, according to DRA CEO S V R Srinivas. The DRA has already requested bids, and all eight of the round 8 builders, as well as one from the UAE and one from South Korea, were present at the pre-bid meeting.
It is acceptable to choose an assignment control representative for the around Rs 23,000 crore project spread across 500 acres. 58,000 eligible families and an equal number of ineligible families are included in its rehabilitation program. The SRA, DRA, and lead bidder might create a special motive vehicle to do the task.
The DRA paid the railroads Rs 800cr for 45 acres in 2019 when the MoU was inked, according to Srinivas. On handing over physical possession, an additional Rs 200 crore is due. In addition, the railroads may receive a portion of the Rs 2,800 crore in music revenue.
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