Maharashtra Cabinet Boosts Dharavi Project with Key Approvals

The Maharashtra cabinet has sanctioned stamp duty concessions for the lease agreements pivotal to the Dharavi Redevelopment Project, a collaboration between the state government and the Adani Group. This move, part of a broader policy supporting urban development, seeks to accelerate the progress of one of Asia's largest slum rehabilitation initiatives.

In a meeting led by Chief Minister Devendra Fadnavis, the cabinet also decided to extend deadlines for loans from international financial institutions including the Asian Development Bank and the New Development Bank. These loans are intended for Mumbai Metro Lines 2A, 2B, and 7, essential components of the city's transport infrastructure.

Moreover, approval has been granted for the initial phase of the Virar-Alibag Multimodal Corridor, envisaged to enhance connectivity across key highways such as the Mumbai-Pune Expressway and the upcoming Navi Mumbai International Airport.

(With inputs from agencies.)