Tuesday, April 18, 2006

The real estate deal called Dharavi

This says it all: "International players will start bidding for Dharavi." It's from an article in the Financial Express, which notes that 535 acres of land in Dharavi, Mumbai's largest squatter community, will be auctioned for a likely price of Rs 4,000 and Rs 7,000 per sq ft. (between $90 and $150 per square foot) Says one developer: "The land at Dharavi is flat and horizontal. Whenever such land is redeveloped, a lot of area is released for development of skyscrapers."

Sound like a squatter's worst nightmare.

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