Tag: Dharavi redevelopment

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Maharashtra government approves stamp duty concessions for Dharavi redevelopment project

MUMBAI: The Maharashtra cabinet on Tuesday gave its nod to stamp duty concessions for lease agreements between the Special Purpose Vehicle (SPV) created for the Dharavi Redevelopment Project and other agencies. The decision was taken at a meeting chaired by Chief Minister Devendra Fadnavis. An SPV has been established for the integrated redevelopment of Dharavi, one of the biggest slum sprawls in Asia which is located in central Mumbai. The redevelopment project is a joint venture between the state government and the Adani group. The redevelopment- rehabilitation scheme has been declared an ‘essential urban and special project’ and a policy…

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Experts estimate free sale portion in Dharavi at 140 million sq ft

Representative photo MUMBAI: Property experts estimate a free sale component of roughly 140 million sq ft to be unlocked by the Dharavi redevelopment plan, yielding revenues of Rs 1.2-1.7 lakh crore for the joint venture between the state govt and the Adani group. Said Anuj Puri, chairman, Anarock Group, “At a rough estimate, the Dharavi redevelopment project presents the builder with about 140 million sq.ft. of overall saleable area for sale on the open market, with a separate allotment for rehabilitation of the current inhabitants. We are roughly looking at over Rs 1 lakh crore of gross revenue. The anticipated…

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Maharashtra CM approves Dharavi master plan

MUMBAI: CM Fadnavis approved the Dharavi redevelopment master plan, after a detailed presentation by SVR Srinivas, Dharavi Redevelopment Project CEO, Wednesday night and stressed that it should preserve the basic commercial identity of Dharavi and its original features. “Everyone who is the original resident of this place should be given a house. Everyone should get justice… though criteria will be different,” said Fadnavis, according to a press release. Sources said the first tranche of slum rehabilitation buildings is being constructed on a 28-acre railway land at Mahim. Each eligible household will be given a 350 sq ft home with two…