Mumbai: One of India’s most ambitious urban transformation projects is set to reshape the landscape of Mumbai as the Dharavi Redevelopment Project moves forward with plans to convert the sprawling settlement into a modern smart city. According to a report by global financial services firm HSBC, the project aims to provide improved housing, world-class infrastructure, enhanced public amenities, and better connectivity for more than one million residents.
The vision for the redevelopment was highlighted during the session titled “Transforming Dharavi: A Model for Inclusive Urban Renewal” at the Adani Annual Conference 2026. During the discussion, Pranav Adani and Navbharat Mega Developers CEO Anil Sardana outlined the scale, objectives, and progress of the project, which is regarded as one of the largest urban renewal initiatives in Asia.
Spread across nearly 600 acres in central Mumbai, Dharavi is one of the world’s most densely populated urban settlements. It is home to a vibrant ecosystem of small-scale industries, including pottery, leather processing, food production, and plastic recycling. Despite its economic significance, the area has long faced challenges related to housing, sanitation, infrastructure, and public services.
The redevelopment project, approved in 2022, is being implemented through a public-private partnership between the Maharashtra government, which holds a 20 percent stake, and the Adani Group, which owns the remaining 80 percent. The overall development covers approximately 225 million square feet, including 95 million square feet dedicated to rehabilitation and 130 million square feet earmarked for free-sale development.
A key component of the project is the rehabilitation of more than 125,000 homes, benefiting over one million residents. Around half of these housing units will be developed within Dharavi itself, while the remaining homes will be constructed across six locations within the Mumbai Metropolitan Region. The initiative aims to provide residents with safer, more spacious, and better-equipped housing facilities.
Beyond housing, the redevelopment plan focuses heavily on modern infrastructure. The proposed smart city will feature a multi-modal transport hub, including three metro stations, bus depots, improved road networks, and pedestrian-friendly walkways. Residents will also gain access to schools, healthcare centres, sports facilities, green spaces, and other civic amenities designed to improve quality of life.
HSBC noted that the project presents a major real estate opportunity as well. The 130 million square feet of free-sale development area, located roughly five kilometres from Mumbai’s prominent Bandra Kurla Complex (BKC) business district, is expected to become a significant commercial and residential asset.
Environmental restoration forms another important pillar of the project. Plans include the cleanup of the Mithi River, redevelopment of the Deonar dumping ground, creation of a six-kilometre mangrove creek, and development of a Marine Drive-style promenade along the riverfront. These measures are intended to improve environmental sustainability while creating new public spaces for residents.
According to HSBC, the rehabilitation phase is expected to be completed over the next seven to eight years. The first building being constructed on Indian Railways land is scheduled for handover by December 2026, while construction of nearly 30,000 housing units is expected to be underway during FY27.
