Navbharat Mega Developers Private Limited

Navbharat Mega Developers Private Limited is a special purpose vehicle established as a joint venture between the Government of Maharashtra and the Adani Group to execute the Dharavi Redevelopment Project in Mumbai, India. The company, formerly known as Dharavi Redevelopment Project Private Limited, rebranded in December 2024 to reflect its vision... of building a modern, inclusive, and vibrant community while avoiding confusion with the Dharavi Redevelopment Authority, the government planning body overseeing the project. The Adani Group holds an 80 percent equity stake in NMDPL, with the remaining 20 percent owned by the Maharashtra government through the Dharavi Redevelopment Project and Slum Rehabilitation Authority. The company is undertaking one of the world's largest urban resettlement and regeneration initiatives, a three billion dollar project aimed at transforming approximately 620 acres of prime land in Dharavi, one of Asia's largest and most densely populated slum areas located near Mumbai's international airport. The project seeks to rehabilitate and resettle approximately one million residents currently living in overcrowded conditions with inadequate sanitation and infrastructure. Eligible residents will receive free residential units of up to 350 square feet as part of the comprehensive redevelopment plan. The initiative encompasses not only residential rehabilitation but also the resettlement of diverse commercial establishments, trading operations, and small-scale industries that form Dharavi's economic ecosystem, which generates an estimated annual turnover exceeding one billion dollars. NMDPL's redevelopment strategy includes creating modern housing with essential utilities including gas, water, electricity, sanitation, drainage, healthcare facilities, recreational spaces, world-class hospitals, and educational institutions. The company has partnered with international design and planning firms including US-based Sasaki, UK-headquartered Buro Happold, and architect Hafeez Contractor to develop ...Read More