“Modi-Made Monopoly Or 3M”: Congress On “True Beneficiary Of Dharavi Redevelopment Project”
Congress said the true beneficiary of the Dharavi Redevelopment Project are not the people of Mumbai, or of Dharavi, but “Prime Minister Narendra Modi’s closest friend, aided and abetted by Devendra Fadnavis (Maharashtra Deputy Chief Minister).” Congress’ statement came in the heels of a massive protest in Mumbai held on Saturday by the INDIA bloc parties under Uddhav Thackeray-led Shiv Sena to oppose the upcoming redevelopment project of Dharavi through the Adani company. A protest march from Dharavi to the corporate office of the Adani group at Bandra Kurla Complex held yesterday attended by the Nationalist Congress Party, Aam Aadmi Party, CPI, CPI (M), RPI, Peasant and Workers Party, Bhim Army, and Dharavi Businessmen Welfare Association.
“The unique quality of the Modani MegaScam is not just that the Prime Minister is channeling lakhs of crores (or trillions as the PM says) towards his close friends and creating a Modi-Made Monopoly (3M), but that these lakhs of crores are coming straight from the pockets of ordinary Indians,” Congress alleged.
Despite official and unofficial claims, the party said the reality is that the Dharavi project will result in the Adani conglomerate being given a mammoth 10.5 crore square feet of real estate Transferable Development Rights (TDR) equivalent to 6-7 times the area of Dharavi.
The statement has also said the details of this has been presented by Mumbai Regional Congress Committee President and Dharavi MLA, Varsha Gaekwad.
“TDR is a transferable credit that allows builders who use land, for instance, in approved slum development projects to be compensated with extra construction rights in other areas. We have previously asked the PM to explain how the Adani conglomerate came to win the lucrative Dharavi project after an earlier tender — won by a different developer — was cancelled and rebid. In the earlier tender, the developer was offered a TDR equivalent to 5 crore square feet, but this has now jumped by 110%, which could give the Adani conglomerate a profit margin as high as 434%,” the statement said.
The party claimed that these supernormal profits have been enabled by Mr. Fadnavis’ modifications of Development Control Regulations on 5 November, 2018 and 28 September, 2022 that have the effect of handing the Adani conglomerate a huge TDR bank. “By doing away with indexation, these government resolutions give the Adani conglomerate the freedom to sell TDR anywhere in Mumbai, including south and central Mumbai and that too at much higher rates than previously allowed. All Mumbai developers will now be compelled to buy 40% of their TDR requirement from the Adani conglomerate at exorbitant rates,” the Congress said.
It has also said Dharavi is a very diverse, thriving community of 7 lakh people that represents a mini-India and it has a large number of small, independent businesses that generate an estimated ₹100 crore in annual income to the government. “Yet documents show that most of these people will be evicted out and only 54,461 slum dwellers and 9,522 residents in chawls and buildings will receive a rehabilitation home within Dharavi,” the statement.
“This is yet another example of how Modani is getting enriched at the expense of the people of India. And a reminder of how the biggest loot in modern India continues in full public gaze, with the complete support of the PM and the ruling party,” the statement added.
