Adani Gets Another Redevelopment Project In Mumbai, 24-Acre Prime Land Near Bandra-Worli Sea Link To Witness Overhaul

After winning the bid for the Dharavi redevelopment project, Adani emerged as the preferred bidder for another redevelopment project in Mumbai, where it has to develop a 24-acre prime land.

This land is close to the Bandra-Worli Sea Link and to get this project, Adani Realty beat L&T in the bids opened last week. However, the final decision will be taken by the MSRDC (Maharashtra State Road Development Corporation) Board this week.

"The revenue share offered by Adani Realty was the highest at 22.7 per cent compared to 18 per cent offered by L&T, with Adani Group emerging as L1," Joint MD of MSRDC Kailas Jadhav was quoted as saying by Hindustan Times.

There were three bidders left in the race, despite several developers participating in the pre-bid meeting because the MSRDC set the Rs 15,000 crore net worth as the eligibility criteria for the developers.

"Out of three bidders, one (Mayfair Housing) was disqualified, and between the two final bidders, the bidder who offered the highest percentage of revenue share to MSRDC was declared L1," Jadhav further said.

The land has to be developed for both commercial and residential purposes, according to the DCPR 2034. It faces Mahim Bay and is located along the Sea Link approach road.