Dharavi redevelopment may dampen real estate prices in Mumbai

Niranjan Hiranandani, managing director of Hiranandani Group, says the rehabilitation needs to be accomplished in a timely manner

Dharavi slums, spread across 178 hectares of prime real estate in central Mumbai, have been neglected for over a century due to their dismal living conditions, filth, and overcrowded spaces. Despite these drawbacks, Dharavi, famously dubbed the "world's largest slum," has always offered a haven for poor migrants from all over India.
 
The surge in the Indian economy and the transformation of the city into a bustling megalopolis have not touched Dharavi until now. However, this could soon change. The Adani group has secured the mandate to transform these slums into commercial and residential complexes. Interestingly, Dharavi, known globally