Accusations of anomalies in the Maharashtra government’s latest announcement on changes to the Development Control (DC) guidelines for the ambitious Dharavi Redevelopment Project (DRP) were refuted by the Adani Group on Saturday.
The Adani Group said in a statement that the accusations of favouritism are a “nefarious attempt to cloud the issues and deflect attention from our objectives of revolutionising urban development.”
The Adani Group refuted any inconsistencies in the DRP and said that the purpose of transfer of development rights (TDR) is to release a certain quantity of developed property in return for land that is given up or abandoned, generally for the sake of an infrastructural project.
According to the statement, the Government Resolution (GR) of 2018 and the GR of 2022 both approved the creation of TDR inside the Dharavi Notified Area.
“These two events took place before the 2022 tender was released, and the contract was won via transparent and equitable competition. According to Adani Group, all the government is doing at the moment is classifying this as a due procedure.
The business was reacting to several stories that said the Adani Group would greatly profit from the most recent regulatory changes.
The company has retorted that, in contrast to the assertions that these policy changes will benefit a single entity, the government’s final notification actually caps the minimum usage of TDR in other projects at 40% rather than 50%, as indicated in the GR of September 2022.
Furthermore, the price of TDR is capped by the government announcement of November 7, 2023. In order to prevent any arbitrary pricing of TDR, the government has now limited the maximum selling price of TDR to be 90% of the ready reckoner rate of receiving plots, while before there was no limitation on the sale price of the TDR produced from the DNA, according to the Adani Group.
It said that the BrihanMumbai Municipal Corporation (BMC) would create a platform where TDR produced from the project will be published and updated in real-time, with the goal of making the TDR process completely transparent.
The Adani Group said, “The vile and baseless accusations of ‘tweaking’ and ‘amendments to suit selected bidders’ do not do justice to the regulatory transparency of the process.”
Recall that the state government chose to grant Adani Realty, spearheaded by Gautam Adani, the DRP bid in December 2022. Adani Realty had submitted a proposal of Rs 5,069 crore for the mega-project, which was marketed as the largest rehabilitation program of its type in India.