Dharavi Redevelopment Project Private Ltd Transforms into Navbharat Mega Developers Private Ltd
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Mumbai, Dec 28 (NationPress) Dharavi Redevelopment Project Private Ltd (DRPPL) has transformed its identity to Navbharat Mega Developers Private Ltd (NMDPL) — aligning with the company’s vision of creating a modern, inclusive, and vibrant community, it was declared on Saturday.
This initiative goes beyond merely changing the name of DRPPL; it also aims to distinguish itself from the government agency known as DRP (Dharavi Redevelopment Authority), which serves as the special planning authority for the state government overseeing Dharavi’s redevelopment.
“The role of the Maharashtra Government remains unchanged, and DRP continues to be the supervising body for this ambitious project,” stated the company.
The name Navbharat Mega Developers signifies the company’s dedication to growth, change, and hope, and this rebranding has been endorsed by its Board of Directors and the Ministry of Corporate Affairs.
NMDPL operates as a special purpose vehicle (SPV), established as a joint venture between the Maharashtra government and the Adani Group.
“This change embodies the company’s renewed perspective and commitment to fostering a brighter future for all those connected to the monumental and historic task of rehabilitating slums across the nation,” said NMDPL.
The term Navbharat, which translates to “New India,” encapsulates the vast potential this project has in crafting a better future.
On the other hand, Mega emphasizes the extensive scale and effect of the ongoing work, while Developers highlights the company’s commitment to constructing a thriving community.
“As India strives towards its ambitious objective of becoming slum-free, the redevelopment of Dharavi is a vital step in this direction. With this new name, NMDPL reaffirms its commitment to this national cause,” it added.
The Dharavi Redevelopment Project is distinctive because it imposes no financial burden on the residents. The state government has pledged to provide free housing to qualifying residents of Dharavi.
Furthermore, the government is dedicated to offering affordable housing options to ineligible residents through the Pradhan Mantri Awas Yojana or via a hire-purchase scheme — all aimed at delivering maximum benefits at the most cost-effective rates.
