MUMBAI, June 10 -- After deciding to hand over hundreds of acres of land to the Gautam Adani-led Dharavi Redevelopment Project (DRP), the Mahayuti government has now proposed to waive the stamp duty worth Rs.45 crore on the lease agreements of the land parcels. The state cabinet is expected to give its assent to this in the next few days. The state government, through orders issued from time to time over the last one year, is all set to give 541 acres of land from six land parcels for the DRP. Of this, 63.51 acres has already been handed over to the special purpose vehicle constituted for the purpose. It includes 21 acres of the Mother Dairy land at Kurla and 42.51 acres of the 58.5 acres of salt pan land in Mulund. Apart from this, 124 acres in Deonar, 140 acres near Aksa Beach in Malad, 120.5 acres of salt pan land in Kanjur and 76.9 acres of salt pan land in Bhandup have been approved to be handed over for the rehabilitation of ineligible residents of Dharavi. After this largesse, the state government has now decided to waive the stamp duty that will be incurred on the lease agreements of the land parcels. "The lease agreements between the government and special purpose vehicle will attract 90% stamp duty," said an official from the housing department. "The total cost of the land parcels at ready reckoner rates is around Rs.1,000 crore and the stamp duty on this is expected to be Rs.50 crore in a sale agreement. Since this land has been leased for more than 29 years, the stamp duty on the lease agreement would be 90% or Rs.45 crore. The state revenue department has proposed waiving this." The state government, vide its decision in September 2019, had decided to forgo stamp duty on documents related to transfer of development rights, first agreement for the sale of residential/commercial units in the notified Dharavi area and land acquisition for the redevelopment. "The previous decision did not include the stamp duty waiver on the lease agreement, and hence this fresh proposal has been moved by the revenue department," said another officer from Mantralaya. Although the revenue department initially opposed the proposal, citing the loss to an already depleted exchequer, it has now approved the move. The proposal is now awaiting the consent of CM Devendra Fadnavis and his two deputy chief ministers. The state cabinet last week approved the amendment in the terms and conditions of agreement for the transfer of the Mother Dairy land. This will pave the way for unlocking the Kurla plot and proceeding with early-stage rehabilitation construction. It will align with the state's proclaimed Housing For All mission and is expected to enable the development of housing and civic infrastructure in new rehabilitation zones. The Dharavi redevelopment project is expected to rehabilitate approximately 8,50,000 residents, while about half a million eligible residents will be accommodated within Dharavi's 620-acre project boundary. The remaining 3,50,000 ineligible residents are to be rehabilitated on the land parcels leased out to the DRP-Slum Rehabilitation Authority....