Urban Reality: Experts discuss Dharavi redevelopment project

Last week, Maharashtra chief minister Devendra Fadnavis said post-redevelopment, Dharavi, one of the metropolis' biggest slum clusters, will be its "new BKC".

Bandra-Kurla Complex, a business district set up on 370 hectares of low-lying land on either side of the Mithi River, Vakola Nalla and Mahim Creek, is now among the country's biggest finance and commercial hubs.

Fadnavis said his government had launched several mega infrastructure projects in and around Mumbai Metropolitan Region (MMR), adding that the state, in the next five years, would contribute over 20 percent in the overall economy of the country in the next, which itself aims to be a $5 trillion economy by then.

"After getting stuck for several years, the Dharavi makeover project has got momentum as we worked seriously to remove all hindrances. The railways has given 45 acres of land. Dharavi is going to be new BKC of Mumbai," he claimed.

He said several metro rail networks were under construction at a collective cost of over Rs 1.10 lakh crore. "In addition to this, the railways are carrying out several mega projects of Rs 54,000 crore. Over 10 lakh affordable homes are to be built in MMR," Fadnavis added.

CNBC-TV18's special show Urban Reality spoke with Hiten Shah, one of the four Indian developers who are part of the Dubai-based Seclink Consortium and the top bidder, Deepesh Salgia director at Shapoorji Pallonji Real Estate, Raju Korde president of Dharavi Bacaho Samitee and Rajiv Mishra Principal at Sir JJ College of Architecture to ask isn't the Maharashtra government itself delaying the process? And if yes, to what purpose?