In India, Slum Dwellers Move Into High Rises

The catch: Developers also get to build luxury housing
One of Omkar’s luxury high rises, under construction Photograph by Dhiraj Singh/Bloomberg

Indian developer Babulal Varma’s job requires the human touch. The company he co-founded, Omkar Realtors & Developers, specializes in coaxing Mumbai’s slum dwellers from their hovels, then bulldozing the slum and erecting a mix of luxury condominium towers and free new homes for the slum dwellers on the cleared land. Omkar has completed 12 projects, rehousing 40,000, with 12 more in the works, making it the most successful business in this niche. Mumbai’s slums still house 6.5 million people.

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