June 18, 2025: The Maharashtra Cabinet has approved significant stamp duty concessions tied to the Dharavi Redevelopment Project (DRP), removing a key procedural and financial hurdle in transforming one of Asia’s largest informal settlements. This decision comes at a pivotal juncture, as the project moves from planning into pre-construction.
Led by Navbharat Mega Developers Pvt Ltd (NMDPL)—a special purpose vehicle with 80% private and 20% Slum Rehabilitation Authority (SRA) ownership—the redevelopment spans over 240 hectares. Dharavi, known for its population density, informal economy, and poor infrastructure, is being redeveloped to provide sustainable housing and urban facilities for over a million residents. The state has already designated the DRP as both an “Essential Urban Infrastructure Project” and a “Special Project”, allowing it to access fast-track approvals and financial benefits.
The stamp duty concessions specifically apply to sub-lease agreements involving the Rail Land Development Authority (RLDA), which owns a key 45-acre land parcel critical to the project. The SPV is required to pay Rs 2,800 crore to acquire this parcel. By reducing stamp duty costs, the government aims to ease financial pressure and accelerate legal processes related to land transfer.
Officials confirm that the concession falls under Maharashtra’s existing policy supporting projects of high public utility developed under public-private partnerships. It is expected to cut transaction costs and smoothen the handover of land rights—an essential step before construction begins.
In related decisions, the Cabinet also approved a 50% stamp duty cut for a new township in Raigad district and a full waiver for Maharashtra National Law University’s upcoming Goregaon campus. These measures signal the state’s broader commitment to enabling urban transformation through financial incentives, while experts urge strong governance and inclusive planning for long-term success.
Source: Urban Acres
