Indian billionaire Gautam Adani's plan to rehouse a million people living in one of Asia's biggest slums is fueling worries among residents about his capacity to deliver amid high-profile financial setbacks and allegations that Prime Minister Narendra Modi's allies afforded him favorable treatment.

The Dharavi slum, about three-quarters the size of New York's Central Park, featured in Danny Boyle's Oscar-winning 2008 movie "Slumdog Millionaire." Its open sewers and shared toilets, close to Mumbai's international airport and high-rises housing foreign companies, stand in contrast to India's development boom.

Adani is at the helm of plans to redevelop Dharavi after the Maharashtra state government in July approved his $614 million (¥89.8 billion) contract bid to overhaul the slum, which is known for producing leather goods, following years of failed attempts.