Dharavi slum in India is known as the biggest slum area of Asia symbolizing India’s huge wealth inequality, but now it holds lucrative investment opportunity for some.
The good news for Dharavi dwellers is that Asia’s Richest man is going to give the slum known for the ‘Slumdog Millionaire’ tag, a makeover.
Housing over a million people of Mumbai city, Dharavi is the symbol of India’s huge financial inequalities. Now Gautam Adani takes pledge to change its picture.
Lately Asia’s richest tycoon, Gautam Adani won the Dharavi development right for a makeover of the Asia’s biggest slum within Mumbai.
Adani Enterprises, the well known billionaire’s flagship firm has outbid top developers bidding at $612 million for laying claim to what has been called by Indian authorities “the largest global urban renewal plan.”
Dharavi, being one of many ambitious development projects of the country, has been taken over by Gautam Adani, as he plans to expand his financial empire exponentially. In the year 2022 Adani business has touched the sky making him the third richest man of the globe.
Now for the Dharavi denizens, the news arrives after decades of vain attempts to entirely redevelop a vast area symbolizing India’s sky high wealth inequalities, but now this place holds immense opportuinity of lucrative investment.
Out of Mumbai’s 22 million population, more than forty percent people live in slums. Shockingly, in Dharavi, around sixty thousand cramped shanty homes are the abode for a million people. Surrounded by swanky skyscrapers, Dharavi is on a piece of land with an area of barely two-thirds the size of the Central Park of Manhattan in New York city.
Till the date, the state has been promising of resettling sixty eight thousand people in three hundred-square-feet free houses for those who have moved in the area before the year 2000. The availability of new houses was said to be at a price for the people who relocated in Dharavi after the year 2000.
