Adani's bid to remake Dharavi spurs residents' doubts, favouritism claims
Adani's plan to rehouse a million people living in one of Asia's biggest slums is fuelling worries among residents about his capacity to deliver amid high-profile financial setbacks and allegations that Prime Minister Narendra Modi's allies afforded him favourable treatment.
The Dharavi slum, about three-quarters the size of New York's Central Park, featured in Danny Boyle's Oscar-winning 2008 movie "Slumdog Millionaire".
Adani is at the helm of plans to redevelop Dharavi after the Maharashtra state government in July approved his $614 million contract bid to overhaul the slum, which is known for producing leather goods, following years of failed attempts.
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.
Only those who already lived in Dharavi before 2000, mostly ground-floor residents, will get free homes within the redevelopment. About 700,000 inhabitants of mezzanine and upper floors are considered ineligible by the government and will be offered units up to 10 kilometers away, which they say could require them to pay upfront costs or higher rents.
A history of Dharavi slum and Adani's plans to redevelop it
The overhaul, poised to start around September, comes at a tumultuous time for Adani. The tycoon was the world's third-richest person until January, when — despite his denials — allegations by U.S. short seller Hindenburg of improper dealings wiped $150 billion off his
