Dharavi Slum Redevelopment: Businesses Restored In Developed Dharavi To Get Tax Refund
Businesses rehabilitated in Mumbai’s Dharavi area after its reconstruction will be eligible for a five-year refund of State Goods and Services Tax (SGST). This will help the local economy, as stated by Dharavi Redevelopment Project Private Limited, a joint venture between the Maharashtra government and the Adani Group.
The refund, which will take effect after receiving the occupation certificate, will increase business competitiveness and give prospects for expansion, according to the DRRPPL.
“Redevelopment will transform the informal nature of Dharavi enterprises, allowing them to contribute to India’s growth story. To facilitate this transition, the state government has provided tax breaks, such as SGST reimbursement. This will give existing and new businesses in Dharavi a solid foundation and increase their profitability,” explained a DRPPL representative.
The state government’s Finance Department will reimburse SGST for five years from the date of issuing of the OC, according to the company, adding that the sops will provide a significant boost to Nav Dharavi’s economic formalisation.
The Adani Group is redeveloping Dharavi, Asia’s largest slum, which spans over 250 hectares, to provide eligible people with flats, schools, community centres, and hospitals.
Thousands of industrial and commercial units that manufacture garments and leather products operate in the area. Many are vendors for huge national and international brands sold all over the world, with a revenue estimated to be in the millions of dollars.
