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Billionaire Gautam Adani鈥檚 Adani Properties Pvt Ltd (APPL) has emerged as the highest bidder for the ambitious $4.3 billion redevelopment project of Motilal Nagar in Mumbai, according to sources. This marks the Adani Group鈥檚 second mega-redevelopment project in Mumbai, following the ongoing redevelopment of Dharavi, one of Asia鈥檚 largest slums. The sprawling Motilal Nagar project spans Motilal Nagar I, II, and III, covering 143 acres in Goregaon (West). The Maharashtra Housing and Area Development Authority (MHADA) will oversee the project, but it will be executed through a Construction and Development Agency (C&DA) due to MHADA鈥檚 financial and technical constraints. Adani's Winning Bid Sources revealed that APPL outbid Larsen & Toubro (L&T) by offering more built-up area for redevelopment. While L&T quoted 2.6 lakh square meters of housing stock, Adani Group agreed to provide 3.97 lakh square meters to MHADA, exceeding the tender requirement of 3.83 lakh square meters. Although the Adani Group declined to comment, the letter of allotment (LoA) for the project is expected to be issued soon. MHADA's Control and Conditions MHADA retains complete control over the project, including ownership of the land. The selected developer, APPL, cannot mortgage the land, raise finances on it, or sell or transfer rights without MHADA鈥檚 approval. The authority has declared the Motilal Nagar redevelopment as a 鈥榮pecial project鈥� to ensure protection for residents and prevent misuse of redevelopment rights. The estimated rehabilitation period is set at seven years from the commencement of the project. According to the tender conditions, the selected C&DA will be responsible for the entire redevelopment process, including design, approvals, construction, infrastructure development, and rehabilitation. A Planned Future for Motilal Nagar The project aims to eliminate illegal constructions and transform the area into a well-integrated, planned community. 鈥淭he state government has declared it as a 鈥榮pecial project鈥�, with MHADA retaining control over it but working through a C&DA in absence of the necessary potential to accomplish the work, based on economic viability and its capability,鈥� said a source. This multi-billion-dollar project is expected to significantly alter the housing landscape in Mumbai鈥檚 western suburbs, setting a new benchmark for large-scale redevelopment in the city.