The challenge would require the rehabilitation of current tenants. Based on the previous survey executed in 2008, practically 58,000–60,000 houses have been eligible for rehabilitation.
“However now we now have to maintain the ineligible folks as properly, because the numbers have risen since then. A contemporary survey will likely be executed, and we expect 80,000–1,00,000 (houses) to be accommodated,” mentioned Srinivas.
The survey will take not less than a 12 months, as it’s going to contain mapping and biometrics of eligible residents. The challenge goals to offer a 350-square-foot carpet space for all of the dwellers recognized through the survey. The challenge may even need to accommodate business models situated within the Dharavi space.
“A blue print or grasp plan will likely be ready for the challenge, which will likely be put within the public area, after which we are going to go forward with the development,” mentioned Srinivas, including that the business models will likely be offered a five-year state GST refund.
These models will likely be tried to be rehabilitated in the identical space, and in the event that they transition into non-polluting applied sciences, we are going to incentivise them, he mentioned.
The challenge will begin with direct rehabilitation and obtain 45–47 acres of railway land the place dwellers will likely be shifted immediately as a substitute of being moved to transit camps, and they are going to be transferred to the constructed hutments. The railway land will initially home round 20,000 flats, Srinivas mentioned.
Initially, there will likely be no cash generated for the challenge. As a substitute, the challenge will solely see money outflow within the first three to 4 years. The funding within the railway land to construct homes will likely be within the order of Rs 7,000–8,000 crore, mentioned Srinivas.
The lead associate can appoint sub-developers within the challenge for building. It could actually additionally herald a world investor as a associate within the SPV, however the authorities stake can’t be diluted. The federal government had allowed consortium companions to bid through the monetary bidding course of. Nonetheless, not one of the bidders introduced in any companions, Srinivas mentioned.
The challenge this time relies on a SPV mannequin and in addition gives for a state help settlement. That ensures that no arbitrary adjustments can happen, no matter who’s in energy. This settlement has been signed between the Dharavi Redevelopment Authority and the Chief Secretary of the Authorities of Maharashtra.
“It is sort of a political drive majeure such that arbitrary selections can’t be taken,” mentioned Srinivas. The challenge is classed as an important public-purpose challenge with loads of dispensation to native folks and business models functioning throughout the Dharavi space.