India, Jan. 22 -- When Abhishek Ragnathan booked his 3-BHK home in 2013 for Rs.1.70 crore, he was in his early 30s, planning a future with his family. Thirteen years on, at 42, the apartment remains unfinished. Life, however, has moved on at a steep emotional and financial cost.Like Abhishek, hundreds of homebuyers invested their life savings, took home loans, paid EMIs, and waited year after year for possessions that never came.

Like Abhishek, the prolonged delay has affected 576 families residing on the land parcel and another 350 families who had purchased homes in the erstwhile proposed development. Spread across 9 acres in Majaswadi, the project has remained stalled for 17 years and is estimated to have a development potential of ov...