Adani final go-ahead for Dharavi project held up after UD concerns
Mumbai: Five months after the state cabinet approved Adani Realty’s bid for the Dharavi Redevelopment Project, the latter has still to take off, as the government has not issued a final Letter of Award. The urban development department has expressed reservations on the concessions in the indexation of TDR given to Adani as well as the order to city builders to buy 50 percent of their TDR from the DRP even before the project commences. “The government wants to ensure that all the orders related to concessions for the project are in place before the LOA is issued, and has thus sent the file to the revenue and urban development departments,” an officer from the housing department told HT. “These issues need to be clear, because once the LOA is given, the bidder has to follow the timeline and can be heavily fined for missing deadlines.” The urban development department has raised questions on the TDR concessions given to Adani—for one, the fact that there will be no indexation of TDR generated from this project.
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