India, April 17 -- Adani Group will invest nearly Rs.1 lakh crore in the redevelopment of the Motilal Nagar cluster in Goregaon, Mumbai, spread over 143 acres, Maharashtra Housing and Area Development Authority (MHADA) CEO Sanjeev Jaiswal said on April 17.

This marks one of the country's largest urban renewal investments after the Dharavi redevelopment project. The Goregaon West project will include a significant rehabilitation component along with a free-sale area, with MHADA overseeing development under the cluster redevelopment model.

The project is expected to generate a total Floor Space Index (FSI) of around 28 lakh sq m, of which 17 lakh sq m will be allocated to the Adani Group, the construction and development agency (C&DA) for...