‘Dharavi likely to unlock 140m sqft free sale portion’ | India News
[ad_1] 'Dharavi likely to unlock 140m sqft free sale portion' MUMBAI: Property experts estimate a free sale component of roughly 140 million sq ft to be unlocked by the Dharavi redevelopment plan, yielding revenues of Rs 1.2-1.7 lakh crore for the joint venture between the state government and the Adani group.Said Anuj Puri, chairman, Anarock Group, "At a rough estimate, the Dharavi redevelopment project presents the builder with about 140 million sq.ft. of overall saleable area for sale on the open market, with a separate allotment for rehabilitation of the current inhabitants. We are roughly looking at over Rs 1 lakh crore of gross revenue. The anticipated profit margins are anywhere between 18-25%. It is also important to note that the Dharavi redevelopment project permits the developer to monetize TDR, or Transferable Development Rights, as well as commercial spaces.''Nav Bharat […]