After the Dharavi redevelopment project the Adani Group has emerged as the highest bidder for the Rs 36000 crore redevelopment of Motilal Nagar in Mumbai. This marks another significant milestone for the group in the urban redevelopment sector.  Motilal Nagar Redevelopment Project The Motilal Nagar redevelopment encompasses Motilal Nagar I II and III spread across a vast 143-acre area in Goregaon (West) a prominent western suburb of Mumbai. Adani Properties Pvt Ltd won the bid by offering the highest built-up area of 3.97 million square meters making it one of the largest housing redevelopment initiatives in the city. MHADAs Role The Maharashtra Housing and Area Development Authority (MHADA) will retain control over the project which is focused on transforming the existing space into modern apartments and well-integrated urban communities. This ambitious redevelopment plan aims to enhance the standard of living for thousands of residents while contributing to Mumbais evolving skyline. This will be the second mega redevelopment project of Adani Group in Mumbai. It is already redeveloping Dharavi one of Asias largest slums in Mumbai. Adani Group did not offer any comments on the story. The Mumbai High Court last week gave Maharashtra Housing and Area Development Authority (MHADA) a go-ahead to redevelop Motilal Nagar through a construction and development agency (C&DA). The state government has declared it as a special project with MHADA retaining control over it but working through a C&DA in absence of the necessary potential to accomplish the work based on economic viability and its capability. In Dharavi Redevelopment Project Pvt Ltd (now called Navbharat Mega Developers Pvt Ltd) Adani Group held an 80 per cent stake while the rest was with the state government. Under the Dharavi project Adani plans to turn 620 acres of prime land about three-quarters of the size of New Yorks Central Park into a glitzy urban hub. About 1 million people live in rickety shanties with open sewers and shared toilets in the densely populated slums close to Mumbai’s international airport. Eligible residents will be given flats of up to 350 square feet free of cost as part of the USD 3 billion redevelopment of rubbish-strewn Mumbai slum of Dharavi into a world-class district. It will look to turn Motilal Nagar into modern apartments. The total estimated redevelopment cost of Motilal Nagar is around Rs 36000 crore and the rehabilitation period is seven years from the project start/commencement date. As per tender conditions for Motilal Nagar redevelopment C&DA must give a housing stock of 3.83 lakh square meters. APPL won the bid by agreeing to hand over 3.97 lakh sq mt to MHADA. The other qualified bidder L&T quoted the figure of 2.6 lakh sq mt. MHADA retains full control over the project including ownership of the land. It tendered for the redevelopment due to its own financial and technical limitations in handling such a large-scale redevelopment. Sources said the project aims to eliminate illegal construction and create a planned well-integrated community in a holistic manner. The private developer cannot mortgage the land raise finance on it or sell/transfer rights without MHADAs permission according to the tender conditions. This protects MHADA residents slum dwellers and prevents misuse of redevelopment right. (With Inputs From PTI)