Businesses Rehabilitated In Nav Dharavi To Get SGST Refund For 5 Years

Dharavi Redevelopment Project (DRPPL), a collaboration between the Government of Maharashtra and the Adani Group, unveiled plans to offer significant benefits to eligible industrial and commercial units in the redeveloped Dharavi area. The initiative aims to formalise and bolster local businesses by providing a refund of State Goods and Services Tax (SGST), as outlined in the tender conditions.

According to a spokesperson from DRPPL, the redevelopment project holds the potential to transform the informal business landscape of Dharavi, integrating it into the broader narrative of India's economic growth. The tax incentives, including SGST reimbursement, are designed to provide a solid foundation for existing and new businesses in Dharavi, enhancing their competitiveness and profitability while fostering manifold growth opportunities.

The tax rebate will be applicable once the newly constructed buildings receive the occupation certificate (OC). Per the tender conditions, eligible industrial and commercial units will be reimbursed SGST payments by the state government's Finance Department through DRP/SRA for a duration of five years from the issuance date of the OC. To claim the refund, businesses will need to provide proof of SGST payment details.

Dharavi is home to numerous industrial and commercial units engaged in the production of garments and leather items, many of which are suppliers to prominent national and international brands. With turnovers estimated in millions of dollars, these businesses are eager to formalise their operations to expand locally and globally.

DRPPL's vision extends beyond mere redevelopment, aiming to create a globally connected city with commercial and industrial premises while preserving Dharavi's vibrant entrepreneurial culture. The project will provide enhanced economic opportunities, modern housing, advanced healthcare facilities, and quality lifestyle amenities, including recreational areas and daycare centres. Additionally, DRPPL aims to maintain Dharavi's diversity and integrity throughout the transformation process.

Dharavi Redevelopment Project Private (DRPPL) is a Special Purpose Vehicle established through a joint venture between the Government of Maharashtra and the Adani Group. DRPPL seeks to elevate the lives of Dharavi residents by providing modern housing while preserving their entrepreneurial spirit. The project emphasises human-centric redevelopment, integrating state-of-the-art infrastructure with community-centric amenities to create a benchmark for similar initiatives worldwide.