Indian billionaire Gautam Adani s plan to redevelop Mumbai s Dharavi slum sparks concerns over his ability to deliver amid financial setbacks and allegations of favourable treatment.
Adani Group aims to demolish what it describes in legal documents as an area of "unhygienic, deplorable" conditions and build new towers on state-owned land to accommodate residents and their businesses. Consultancy Liases Foras estimates Adani may invest up to $12 billion on remaking Dharavi and in return get development rights that could yield revenue of up to $24 billion.
Maharashtra approves redevelopment of Dharavi and appoints Slum Rehabilitation Authority to plan the project. Survey by the Maharashtra Social Housing and Action League, a non-government organization, shows around 47,000 legal residents and 13,000 commercial structures in Dharavi. But the figure excludes many more occupying upper floors, and the informal population continues to grow in subsequent years.