December 2, 2023

DRPPL in a statement said it believes some people are manufacturing a controversy


The Dharavi Redevelopment Project Pvt Ltd (DRPPL) has slammed “some people” who are trying to cook up a controversy around the transferable development rights (TDR) generation from the Mumbai’s Dharavi Redevelopment Project (DRP).

DRPPL in a statement said it believes some people are “attempting to manufacture a controversy at the deliberate behest of certain vested interests who hope to derail or, at least delay, the long-cherished dreams of Dharavi’s people for a better future.”

The generation of TDR within the Dharavi Notified Area (DNA) was allowed since the Government Resolution (GR) of 2018. It was further modified in the GR of 2022. Both these developments happened prior to the issuance of the 2022 tender, which was won through open and fair competition, a DRPPL spokesperson said in the statement.

At present, all that the government is doing is notifying this as a due process, said DRPPL, a special purpose vehicle (SPV) between the Adani Group and the Maharashtra government.

The GR issued before the 2018 tendering process had a provision for sale of TDR generated from the DRP across Mumbai, and the GR introduced in September 2022, before the tendering process started, introduced two vital changes. Importantly, these changes were available for due diligence to all the bidders, DRPPL said.

“Contrary to the claim that these policy changes are going to benefit a single entity, the final notification from the government has, in fact, capped the minimum usage of TDR in other projects at 40 per cent, instead of 50 per cent, as mentioned in the September 2022 GR,” the DRPPL spokesperson said.

Additionally, the government notification on November 7 this year also puts a cap on the pricing of TDR. While there was no restriction earlier on the sale price of the TDR generated from the DNA, the government has now restricted the maximum sale price of TDR to be 90 per cent of the ready reckoner rate of receiving plots to avoid any arbitrary pricing of TDR, DRPPL said.

To make the TDR process fully transparent, the Municipal Corporation of Greater Mumbai will develop a website where the TDR generated from the project will be uploaded and updated in real-time.

“The baseless and malicious allegations of ‘tweaking’ and amendments to suit selected bidders do not do justice to the regulatory transparency of the process. Alleging favouritism of any kind is a mischievous ploy to muddy the waters and divert attention from our goal of transformational urban management,” the DRPPL spokesperson said.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

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