India, June 17 -- The Maharashtra cabinet has approved a proposal to offer stamp duty concessions on lease agreements between the Special Purpose Vehicle (SPV) formed for the Dharavi Redevelopment Project and various related government bodies.

The move aims to expedite the implementation of this large-scale rehabilitation and redevelopment initiative in one of Asia's largest slum clusters, the Chief Minister's Office (CMO) said in a statement on June 17.

The decision was taken at a meeting chaired by Chief Minister Devendra Fadnavis.

An SPV has been set up for the integrated redevelopment of Dharavi, a sprawling slum settlement in central Mumbai. The project is a joint venture between the Maharashtra government and the Adani Group.

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