India, Feb. 14 -- The residents of Abhyudaya Nagar are in for another round of disappointment. There are no takers to revamp the prime 33-acre locality at Kalachowki despite the Maharashtra government pushing for the project to be executed through the much-talked-about cluster redevelopment.

"We have not received any bid," said an official from the Maharashtra Housing and Area Development Authority (Mhada), which was put in charge of appointing a construction and development agency to spearhead the redevelopment project. "As a result, for now, we have decided to cancel the ongoing process. Over the next few days, we will take a call on re-tendering."

According to real estate developers, the lack of response is due to the high compensati...