Dharavi's Profile in Mumbai Real Estate

Dharavi, the booming 200-hectare of land in the bosom of Mumbai, place to over a one-half million people, is one of Mumbai's premier properties.

With existent estate values sky-high in Mumbai and a cardinal commercial territory on the card game in North of Dharavi; a multi-billion dollar renovation program for this country is now up.

Booming economy

An yearly concern turnover rate of more than than $650m (£350m) a twelvemonth is what Dharavi's part to Indian economic system is.

Dharavi have a brawny figure of growing small-scale industries that industry embroidered garments, exportation quality leather goods, clayware and plastic. Most of these merchandises are sold in domestic as well as international markets.

Apprehensive of at hand renovation plans, occupants have got raised their concerns fearing uncertainness over the resettlement of their little concerns in the informal sector.

The existent occupants are believed to be shifted to flat units. Mumbai is offering them an country of 225 sq.ft each in flat blocks but there is no space allocated for their fecund enterprises, state mass media reports.

An 'affordable' alternative

Moreover in a metropolis where house rents are among the peak in the world, Dharavi supplies an economical and low-cost option. As Dharavi is situated between Mumbai's two chief suburban railing lines, bulk of people happen it convenient for work.

According to industry sources, rents here can be as low as 185 Sri Lanka rupees ($4/£2.20) per month.

Future Outlook

Dharavi's location have made it a hot place in Mumbai Real Number Estate. The renovation undertaking is estimated to be $2.1bn (£1.1bn) but intended for a metropolis that personifies India's hopes of becoming an economical rival to People'S Republic Of China this costs zilch.