This means that sublease agreements between the Railway Land Development Authority (RLDA) and DRPL, or the transfer of land from the Dairy Development Department to DRPL, will have stamp duty a conceded rate. Under the stamp duty waiver provisions, the state cabinet, in its meeting on Tuesday, approved the concession
The Dharavi revamp will be executed by Navbharat Mega Developers Private Limited (NMDPL). File Pic/Atul Kamble
In less than a month, the state government has taken three major decisions pertaining to the Dharavi redevelopment. On May 28, Chief Minister Devendra Fadnavis approved the Dharavi Redevelopment Project Limited (DRPL) master plan. On June 3, the state cabinet gave its nod to hand over 8.5 hectares of Kurla dairy land to the DRPL. Now, on Tuesday (June 17), the Maharashtra government has approved a proposal to provide concessions on thestamp duty applicable to agreements between the Special Purpose Vehicle (SPV) and other agencies.
This means that sublease agreements between the Railway Land Development Authority (RLDA) and DRPL, or the transfer of land from the Dairy Development Department to DRPL, will have stamp duty at a conceded rate. Under the stamp duty waiver provisions, the state cabinet, in its meeting on Tuesday, approved the concession. “The decision is expected to expedite the redevelopment process,” read the statement issued by Chief Minister Devendra Fadnavis's office. Earlier, on June 3, the state cabinet had already approved the handover of 8.5 hectares of Kurla dairy land to DRPL.
The state government’s move to transform Asia’s largest slum into a modern and sustainable neighbourhood has been opposed by Opposition leaders, who argue that the ruling Mahayuti coalition (comprising the BJP, Eknath Shinde-led Shiv Sena, and Ajit Pawar-headed NCP) is rolling out the red carpet for the private developer involved in the redevelopment process. The Dharavi revamp will be executed by Navbharat Mega Developers Private Limited (NMDPL), a joint venture between the Adani Group and the Maharashtra government. The Adani Group holds an 80 per cent stake in NMDPL, while the remaining 20 per cent is held by the state government.
The Dharavi Redevelopment Project (DRP) is estimated to cost over Rs 2 lakh crore and includes the construction of 100 million square feet for rehabilitation. In return, NMDPL will have the right to develop and sell 140 million square feet under the free-sale category. Rough estimates suggest that around 1.25 lakh tenements — both residential and commercial — will need to be rehabilitated.
Deadline for loans for Metro projects pushed to end of 2026
The state cabinet also approved an extension of the deadline to avail loans from financial institutions for Mumbai Metro projects, and the adoption of the Build-Operate-Transfer (BOT) model for the first phase of the Virar-Alibag multipurpose transport corridor. For the Metro project, loans totalling $1,075.74 million have been sanctioned by the Asian Development Bank (ADB) and the New Development Bank (NDB). Of this, $549.25 million (approximately Rs 4304.43 crore) has already been utilised.
The Central Government had earlier set June 30 as the deadline for full loan disbursement. With Metro Routes 2A (Dahisar East to D.N. Nagar) and 7 (Andheri East to Dahisar East) already operational, and work on Route 2B (D.N. Nagar to Mandalay) ongoing, the deadline extension will allow continued procurement — especially for the remaining 36 out of 96 metro trains being financed through the ADB loan. The new deadline for drawing down the loan has been extended to December 31, 2026.
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