The Maharashtra government Tuesday paved the way for a massive development of central Mumbai's Dharavi, Asia's largest slum, made famous by the Oscar Award winning film "Slumdog Millionaire" and Gregory David Roberts novel "Shantaram."

Announcing amendments to the state's Development Control Rules (DCR), making the project a time-bound possibility, Chief Minister Prithviraj Chavan said a 10-year corpus fund would be created for developing Sector 5 in Dharavi, which is mainly owned by the government.