The script revolves around recent economic headlines and would see Garfield play a man who loses his house in foreclosure.
He becomes a real estate broker and start evicting home owners. As he becomes financially independent, the man's conscience begins to trouble him, the Hollywood Reporter said.
Treehouse Pictures will be lining up Kevin Turen and Justin Nappi to produce the film.
Bahrani is an award-winning director for his film Man Push Cart which centred around the struggle of Pakistani rockstar who turned into a street vendor in Manhattan.
Garfield is currently shooting the sequel of The Amazing Spider-Man. The 29-year-old actor recently made an appearance at Comic-Con in the garb of the web-slinging hero.
The Amazing Spider-Man 2, directed by Marc Webb, is set for a May 2, 2014 release.