New Books In Critical Theory

Few who have visited India in the past two decades will have failed to noticed the sudden and spectacular urban transformation that has taken place in many of its cities. Gated residential complexes with tennis courts and indoor gyms, glitzy office buildings, gleaming five-star hotels, and of course air-conditioned malls have become ubiquitous as the new face of a “new” India, often understood as symbols of a long-awaited global modernity. Getting behind the glittery facade, Llerena Searle’s new book Landscapes of Accumulation: Real Estate and the Neoliberal Imagination in Contemporary India (University of Chicago Press, 2015) shows that these buildings are not built to service consumer India; they are built for real estate developers and international investors for whom Indian real estate has become a profitable speculative gamble. Indian land and buildings are no longer local resources for production or use; they are turning, or more accurately being turned, into internationally tradeable financial assets.