Overview

• The cabinet approved stamp duty concessions for lease and sublease agreements of the Dharavi Redevelopment Project SPV to reduce transaction costs and expedite the integrated overhaul of one of Asia’s largest slums
• A 50% stamp duty concession was granted for land transactions under the Raigad Pen Growth Centre, a 1,217.71-acre public-private partnership by the Mumbai Metropolitan Region Development Authority and Raigad Pen Growth Centre Ltd
• Navbharat Mega Developers Pvt Ltd, the SPV overseeing Dharavi’s redevelopment, is a joint venture between Adani Properties (80%) and the state-run Slum Rehabilitation Authority (20%)
• Construction has commenced on the Kurla Mother Dairy plot to provide new housing for residents displaced by the Dharavi project under revised rehabilitation plans
• The cabinet also approved a full stamp duty waiver on land allocated to Maharashtra National Law University in Goregaon for its permanent campus