Adani Group Secures Major Redevelopment Project in Goregaon West with Rs 36,000 Crore Bid

The Adani Group has won the Rs 36,000 crore redevelopment bid for the Motilal Nagar MHADA colony in Goregaon West, further solidifying its presence in Mumbai’s real estate sector. The financial bids for the 142-acre project were opened on Tuesday by MHADA’s Mumbai Board, with Adani emerging as the highest bidder.

As per bid conditions, Adani has committed to constructing 3,97,100 square meters of space for MHADA, exceeding the minimum requirement of 3,83,000 square meters. The final approval for the project will now be sent to the state government.

With this redevelopment, Adani will gain 18.80 lakh square meters of saleable area. MHADA Vice President Sanjeev Jaiswal stated that the contract was awarded to the company offering to build on more than 13.29% of the total area. Adani surpassed this with a 13.78% commitment, while L&T’s bid stood at only 9% (2,60,000 square meters).

The group is already spearheading the redevelopment of Dharavi and Bandra Reclamation, including the MSRDC headquarters. It has also secured the construction of saleable buildings under the slum rehabilitation scheme at the Andheri Regional Transport Office plot. Now, the addition of Motilal Nagar further strengthens its grip on Mumbai’s high-value redevelopment projects.

Motilal Nagar houses 3,700 tenements, with rehabilitation planned over 5,84,000 square meters. Residential occupants will receive 1,600 sq. ft. homes, while non-residential occupants will get 987 sq. ft. commercial spaces. However, Adani will have the largest share, with 18.80 lakh square meters of space available for sale.​