Railways to give 45 acres for Dharavi redevelopment.

In what may provide a much-needed boost to the Dharavi redevelopment plan which has been pending since 2004, the Indian Railways has decided to provide 45 acres of its land near the Asia’s largest slum for the project.

The Dharavi Development Authority will be given the land by the Railway Development Authority on a 99-year lease, and will be renewable on mutually agreed terms, railway minister Piyush Goyal said on Monday. He, however, did not disclose the commercial details except that the deal will have both upfront payment as well as revenue-sharing components. “The financial details are still to be finalised,” the minister added.

The announcement comes just a week before the Model Code of Conduct is expected to be in place as the Election Commission is likely to announce the date of General Election next week.

During the redevelopment of the 400-acre slum along with the 45 acre of the railway, the redeveloper will also have to redevelop the existing railway staff colony on that land which is 60 years old. The minister said there are 3,000 shanties also who have encroached on the railway land and these will also be given houses under the Slum Rehabilitation Scheme.

“While redevelopment will provide opportunities for the dwellers, it will also open development partnerships which the railway can undertake with state and central agencies,” said Goyal, adding that the ministry will be exploring more such opportunities. A global tender of Rs. 26,000 crore has been floated for redevelopment of Dharavi.

THE FINANCIAL EXPRESS