Adani Group to invest ₹ 1000 billion in Motilal Nagar Redevelopment, secures 17 lakh sqm saleable area

Adani Group will invest ₹ 1000 billion over 10-15 years to redevelop Motilal Nagar in Goregaon, receiving 17 lakh square meters of free sale area under the CD&A model, with current local rates at approximately ₹30,000 per square foot.

Adani Group, through its entity Estatevue Developers, has been allocated approximately 17 lakh square meters of free sale area as part of the Motilal Nagar redevelopment project in suburban Goregaon, according to a senior government official. The 143-acre project will generate a total of 28 lakh square meters of space, of which over 10.5 lakh square meters must be allocated to existing tenements and the Maharashtra Housing and Area Development Authority (MHADA).

Total investment is estimated at ₹ 1000 billion over a 10 to 15-year period. This development matters because Motilal Nagar is the first project executed under the Compensation Discussion and Analysis (CD&A) model following Adani’s winning bid last year. The group is also handling the Dharavi redevelopment, signaling its growing dominance in Mumbai’s large-scale slum rehabilitation and urban renewal sector. With residential rates in the area around ₹30,000 per square foot, the free sale area offers substantial monetization potential. Industries impacted include real estate development, construction, and urban infrastructure.

Stakeholders include MHADA, original tenement occupants, and commercial property investors. For investors, the mixed-use project, yet to determine the split among residential, commercial, educational, or hospitality segments, will be closely watched for execution timelines and pricing strategies given the scale of investment.

Adani Group is an Indian multinational conglomerate headquartered in Ahmedabad, with interests in energy, logistics, agribusiness, real estate, and defense.

MHADA is the Maharashtra state authority responsible for housing and area development.