The financialisation of slum redevelopment in Mumbai, India

Anitra Baliga

Chapter 22 in Handbook on Financialisation and Space, 2026, pp 394-409 from Edward Elgar Publishing

Abstract: This chapter advocates for analysing Mumbai's Slum Rehabilitation Scheme (SRS) as a significant case of financialised urban regeneration in a peripheral economy that challenges top-down, mechanistic assumptions about global capital. The chapter advances three key propositions: first, that financialisation has penetrated peripheral urban contexts, albeit unevenly and incompletely; second, that local actors – particularly slum residents – mediate financialisation processes through a complex interplay of contestation and cooperation; and third, that policies aimed at balancing competing stakeholder interests paradoxically reinforce financialisation within redevelopment efforts. Slum redevelopment efforts in Mumbai demonstrate that while financialisation enables large-scale urban regeneration, it also intensifies contradictions between social and financial goals, complicating their pursuit and amplifying the very conditions that drive their merger. Ultimately, the chapter contributes to the broader literature on planetary financialisation by foregrounding the contingent, negotiated, and locally mediated nature of financialisation processes in urban spaces, particularly within peripheral economies.

Keywords: Slum Redevelopment; Urban Speculation; Mumbai; Subordinate Financialisation (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035328628
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