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Gautam Adani-led Adani Group will receive 17 lakh sq m of free sale area in the 143-acre Motilal Nagar redevelopment project in Goregaon, Mumbai, with total investment estimated at INR 1 lakh crore. The project, to be executed over 10–15 years, will generate 28 lakh sq m of built-up space, with over 10.5 lakh sq m allocated for rehabilitation of existing residents and MHADA. The development, awarded under the CD&A model, will include mixed-use components and is expected to significantly increase housing supply, while rehabilitating 5,000 tenements and expanding occupancy to around 25,000 families.
The Adani Group will receive approximately 17 lakh sq m of free sale area in the Motilal Nagar redevelopment project in Goregaon, Mumbai, under a large-scale urban renewal plan being implemented by Maharashtra Housing and Area Development Authority. The project, spread across 143 acres, is expected to attract an overall investment of around INR 1 lakh crore over a 10–15-year period. Advertisement
According to officials, the redevelopment will create a total built-up area of 28 lakh sq m. Of this, more than 10.5 lakh sq m will be allocated towards rehabilitation of existing residents and MHADA’s share. The remaining 17 lakh sq m, equivalent to approximately 1.82 crore sq ft, will be available as free sale area to Estatevue Developers, an Adani Group entity, for sale in the open market.
The project was awarded to the Adani Group in the past year under the Compensation Discussion and Analysis (CD&A) model, marking the first such redevelopment initiative under this framework. The development is expected to follow a mixed-use format, with potential allocation across residential, commercial, educational and hospitality segments, although the final composition is yet to be determined.
Officials indicated that the rehabilitation of around 5,000 existing tenements, including residential, commercial and slum units, is targeted within a seven-year timeframe, subject to possible extensions. The redevelopment is expected to increase the number of resident families on the site to approximately 25,000 upon completion.
Under the rehabilitation plan, residential unit holders will receive 1,600 sq ft units, while commercial occupants will be allocated 957 sq ft spaces. Authorities stated that priority will be given to existing residents, with consultations being conducted as part of the redevelopment process.
While the developer will have flexibility in phasing the free sale component, land ownership will remain with MHADA. Additionally, the developer will require regulatory approval for financing arrangements or transfer of development rights related to the project.
The Motilal Nagar redevelopment forms part of a broader pipeline of projects being planned under the CD&A route across Mumbai. Authorities indicated that 11 such projects, covering approximately 923 acres, are expected to be awarded over the next year. These projects collectively aim to rehabilitate over 75,000 tenements across locations including Kamathipura, Worli, Abhyudaya Nagar and Bandra Reclamation.
Officials also highlighted that large-scale redevelopment initiatives, including projects such as Dharavi, are expected to increase housing supply in Mumbai. They added that improving rental housing viability, including enhancing rental yields currently estimated at around 2%, would be critical to supporting long-term urban housing demand.
Source - PTI
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