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Global Tender for selection of Lead Partner for Dharavi Redevelopment Project in India

Posted on: October 07, 2022 | Back | Print

The State Government of Maharashtra has decided to redevelop DHARAVI as a Special Project, the largest slum in Mumbai, as an integrated planned township. Government has notified the lands admeasuring about 240 Ha as the Dharavi Notified Area and appointed Slum Rehabilitation Authority, as a Special Planning Authority.

Dharavi is situated close to Bandra-Kurla Complex, the financial hub of Mumbai. It is the centre point of Mumbai and well connected with all kinds of public transport modes. Railway stations at Sion, Mahim, Chunabhatti, GTB Nagar and King’s Circle are adjacent to Dharavi. Further, MMRCL is developing Dharavi Metro station (Mumbai Metro Line - 3) which has connectivity to South Mumbai, BKC and International Airport. Additionally, connectivity of the area will get further strengthened by plans of MMRDA to develop one more road linkage to Bandra Worli Sea Link near Dharavi. Further Mumbai Trans-Harbour link under construction connecting central Mumbai with international Airport is very close to Dharavi.

As a Special Project and vital Public Purpose Project, Government of Maharashtra has endeavored to provide various concessions for the speedy completion of this Project and integrated development of the area as a growth centre. Selected Lead Partner has to form Special Purpose Vehicle with 80% equity (Rs. 400 crore) and Government of Maharashtra will hold 20% equity (Rs. 100 crore). SPV will have to construct free housing for the eligible slum dwellers and occupants, including amenities and infrastructure as per the terms and conditions mentioned in the Bid document.

 In-lieu of it, the SPV Company will be entitled to construct free sale area to sell in the market. The proposed completion period of the construction of rehab, renewal, amenities and infrastructure is 7 years from the date of Commencement Certificate for the first phase of the Project.


Selection Process:

The Authority invites bidders to submit their Bids in a single-stage, two e-envelopes e-tendering process.  The Project will awarded to the qualified Bidder, quoting the highest amount, over and above the minimum stipulated INR 1,600 crore investment, that the Lead Partner of the SPV Company is ready to bring in the SPV Company as per the terms and conditions of the tender documents. Apart from equity of INR 400 crore, any investment required for the project shall be brought by the Lead Partner in the form of Compulsorily Convertible Securities such as Compulsorily Convertible Debentures and/or Compulsorily Convertible Preference Shares.

The Authority invites offers from experienced and qualified bidders from India and abroad for integrated redevelopment of Dharavi through International Competitive Bidding.  The bid documents can be downloaded from the website https://mahatenders.gov.in by selecting Tenders by Organisation => search “Slum Rehabilitation Authority between 01/10/2022 to 31/10/2022.  Pre-bid meeting is 11/10/2022. The last date for submission of the Bid is 31/10/2022.