Adani Group Plans Diwali Launch for First Phase of Dharavi Free-Sale Housing

Affordable-to-mid segment homes to come first; premium offerings near BKC in later phases

The Adani Group is gearing up for a major milestone in the Dharavi Redevelopment Project (DRP), with the first phase of the free-sale housing component likely to launch around Diwali 2025 or early 2026, according to people familiar with the matter. This marks the beginning of a massive transformation of one of Asia’s largest slum clusters into a modern urban zone.

The Dharavi project is not just about new housing—it’s a complex blend of redevelopment, rehabilitation, and urban renewal, aiming to uplift the lives of nearly a million residents.

Focus on Affordable and Mid-Segment Housing First

As per initial plans, the Adani Group will start with affordable-to-mid segment housing in the southern and eastern edges of Dharavi, particularly areas around Sion and King’s Circle, where current market rates are relatively lower. These localities will likely serve as the launchpad for the free-sale inventory rollout.

Around 60–70% of the free-sale inventory is expected to cater to the affordable and mid-income segments, making the first phase more accessible to middle-class buyers.

Industry insiders suggest initial pricing could begin at Rs 27,000–28,000 per square foot, with a gradual escalation to around Rs 35,000 per square foot as the project progresses westward toward the more premium BKC-facing sections in later phases.

Massive Urban Renewal with Phased Rollout

The Dharavi Redevelopment Project is being hailed as one of the largest urban renewal projects in Asia, and its scale demands a carefully phased approach. The Adani Group plans to release just 10–15% of the free-sale inventory each year over the next 8–10 years. This strategy will ensure better absorption of the housing stock and allow for flexible pricing based on market conditions.

The total saleable space unlocked through the project could reach a staggering 140 million square feet, potentially generating revenues exceeding Rs 1 lakh crore at current market rates.

In parallel, work continues on other critical aspects of the project, including land surveys, enumeration of residents, and securing government clearances. The redevelopment not only includes rebuilding Dharavi itself but also rehabilitation housing in areas like Kurla, Vikhroli, and Deonar.

A Transformational Project for Mumbai

The Dharavi Redevelopment Project is not just a real estate venture; it is a social and infrastructural transformation. Adani’s phased approach reflects the complexity of executing such a large-scale project, balancing the commercial component with in-situ rehabilitation of existing residents.

This redevelopment could redefine Mumbai’s urban landscape, offering new opportunities for homebuyers, reshaping an iconic locality, and unlocking massive economic value.

As Diwali approaches, all eyes will be on how Adani Group rolls out the first phase and how the market responds to this ambitious housing initiative in Dharavi.