So says The Hindu, India's most respected daily newspaper. The paper reports that the Karnataka government wants to cash in on the value of the city's shantytowns through a plan that would allow private developers to take them over as long as they provide replacement housing for the squatters.
Here's the relevant stat: "a large number of slums in Bangalore are located in the city centre where land prices have increased in the recent years....[and] the land value of some of the huts (10 feet by 10 feet) in Gandhinagar area has been estimated at over Rs. 10 lakh [for the uninitiated into Hinglish: a lakh is 100,000; 10 lakh is 1 million], although the occupants cannot sell the land as they have no documents for them."
So that 10 X 10 hut is worth $22,600.
Now tell me who benefits if the squatter gets a lousy single-room apartment while the developer gets the rest of the value?