The Maharashtra government has directed the Slum Rehabilitation Authority to contribute ?300 crore towards the Dharavi Redevelopment Project, with ?200 crore for Rail Land Development Authority and ?100 crore for the project’s equity. The Adani Group won the project with a bid of ?5,069 crore, but the Letter of Award was delayed due to the Hindenburg Research report. The lead developer was expected to release the first tranche of ?500 crore within 90 days after the LoA, and the DRP would have to pay back the ?300 crore to SRA after the Special Purpose Vehicle is formed.
