Summary:
AdvertisingThe cabinet has also extended a waiver of stamp duty on development rights agreement for the redevelopment project. A formal MoU between the government, the Dharavi Redevelopment Project Authority (DRPA) and the company regarding the formation of an SPV for the construction project will soon be signed, confirmed officials. The sheer size of the redevelopment makes it the largest redevelopment project in the country. Even before the deal for the Rs 26,000-crore Dharavi redevelopment project is signed, the state government has sanctioned a major fiscal concession to the project’s developer. One of the prominent themes of the redevelopment project is to formalise this economy..