Adani Realty's engagement with Dharavi is not a conventional residential launch but a government-mandated urban transformation mandate, executed through a dedicated special purpose vehicle. In November 2022, Adani Properties Private Limited secured the 259-hectare redevelopment project through competitive bidding, quoting Rs 5,069 crore for the project, while the DLF Group submitted a bid of Rs 2,025 crore. This made the Adani Group the anchor developer for one of the largest urban renewal contracts awarded in India.
The redevelopment is carried out by Navbharat Mega Developers Pvt Ltd, jointly funded by the Adani Group (80%) and the Government of Maharashtra (20%). The entity was earlier known as Dharavi Redevelopment Project Private Ltd (DRPPL) before its board and the Ministry of Corporate Affairs approved the rebranding to Navbharat Mega Developers Private Ltd in late December 2024. The renaming was undertaken to avoid confusion with the Dharavi Redevelopment Authority (DRA), the government's own special planning authority for the area.
The project covers about 590 acres of land in the Dharavi Notified Area of Mumbai, a highly dense urban zone being restructured into a planned city district. It follows a vertical redevelopment model, replacing low-rise structures with high-rise towers to make full use of the available land. The centrepiece of the plan is rehabilitation of almost 1.25 lakh residential and commercial units, structured as approximately 58,532 residential units and 13,468 commercial and industrial units, designed to retain existing economic activity while upgrading infrastructure.
The masterplan sets aside 151 acres for rehousing residents, 118 acres for commercial and residential development, with the remainder allocated to public infrastructure. Navbharat Mega Developers has partnered with the US-based design firm Sasaki, UK-headquartered consultancy Buro Happold, and architect Hafeez Contractor for the project, both renowned in infrastructure engineering and urban planning. Early execution work has already begun on the ground: the company is constructing a modern housing complex for railway employees and the first phase of rehabilitation on a 6.4-acre plot that is part of a larger 27.6-acre land parcel, along with a commercial development component.
Dharavi sits in Central Mumbai, roughly 5 km from the Bandra-Kurla Complex. The locality is served by four surrounding railway stations — Sion, Mahim, Guru Tegh Bahadur Nagar and King Circle. Its position between two of the city's costliest micro-markets gives the redevelopment an unusual land-value premium relative to typical slum-rehabilitation sites: adjacent localities such as BKC, Mahim, Sion and Lower Parel currently see average property prices ranging from roughly Rs 11,407 to Rs 49,700 per sq ft. A commercial tower fronting the Sion-Bandra Link Road even lists Dharavi Metro Station and Sion station within 750-900 metres, alongside the Eastern and Western Express Highways as its key access points — the same connectivity spine that will serve Dharavi's redeveloped precincts once completed.
This centrality is a core reason the project is treated as a city-shaping mandate rather than a peripheral slum-rehabilitation scheme. Mumbai's slum redevelopment pipeline is moving from policy intent to active execution, with Dharavi's first handovers targeted by December 2026. The broader project is planned for completion by January 2032.
Dharavi is Adani Realty's most visible Mumbai commitment, but not its only one. Ten BKC, a premium residential development by Adani Realty, is positioned within Bandra Kurla Complex, one of Mumbai's most prominent commercial and financial districts, offering high-rise luxury residences with immediate access to corporate headquarters and financial institutions. Ten BKC is one of the largest integrated residential projects in Mumbai, spread across roughly five acres and offering 3, 4 and 5 BHK apartments.
Elsewhere in the suburbs, Adani Airica occupies a 10-acre canvas in Kanjurmarg West, offering 447 exclusive 2 and 3 BHK apartments. The developer also has ongoing residential developments at Codename Triumph in Kanjur Marg and Bhandup, Codename Lit in Thane West, The Views in Ghatkopar East, and Adani Western Heights in Andheri West, per project listings tracked across these Mumbai suburbs. Beyond residential towers, in the last two years Adani Realty has also secured a $4.1 billion housing development in the north of Mumbai and a $3 billion residential and commercial complex overlooking the Arabian Sea in Bandra West.
At a group level, Adani Realty has developed close to 24 million sq ft of real estate, with approximately 61 million sq ft currently under development across residential, commercial and social-club formats in Ahmedabad, Mumbai, Pune and Gurugram. Adani Realty is now one of the country's largest property players, valued at about $1.5 billion by the Bloomberg Billionaires Index.
For anyone tracking Adani Realty's footprint in and around Dharavi, the relevant reference point is the developer's demonstrated capacity to execute government-anchored redevelopment at scale — from the railway-land handovers already underway in Dharavi to delivered towers like Ten BKC a few kilometres away in Bandra East. Since 2010, Adani's real estate arm has expanded its footprint across major tech and finance hubs in India, from a country club and township in Ahmedabad to luxury towers in Mumbai. The Dharavi mandate extends that trajectory into the heart of the city, on land that borders BKC, Sion and Mahim — corridors that already command some of Mumbai's highest per-square-foot values.
