The Maharashtra Government has completed the process of giving approvals to the much-stalled Dharavi redevelopment project and the tendering process will be completed in three months, Deputy Chief Minister Devendra Fadnavis said on Friday.
“It would be one of the biggest redevelopment projects ever undertaken by any government and will positively change the face of Mumbai forever,” he said while addressing a gathering at the Homethon Property Expo, organised by the National Real Estate Development Council (NAREDCO).
Mr. Fadnavis said that the State government realised the importance of the real estate sector and had been taking several proactive steps to provide a boost to it.
“The real estate sector employs nearly 20% of the population, and we realise that it requires some concessions to grow. We are having deliberations with the Chief Minister on the subject and will come out with some concrete decision regarding the same,” he said.
According to the Deputy CM, the Navi Mumbai Airport Influence Notified Area (NAINA) project will have a significant impact on the property prices in Mumbai. “Real estate development at NAINA will moderate prices around Mumbai and give developers a lot of opportunity to provide quality construction there,” he said.
