South Mumbai's realty bites: 3K locals wait for bigger homes for 4 yrs
MUMBAI, April 14 -- More than four years ago, 3,410 residents from 48 buildings in the heart of south Mumbai, Abhyudaya Nagar in Kalachowki near Parel, opted for cluster redevelopment, in the hope of getting bigger homes. They appointed a developer and carried out all formalities. However, for the past two years, the project is stuck in limbo, with no explanation from the developer on the reason for the delay, claim residents. The developer alleges the problem is the "unviable" stamp duty of Rs.150 crore he is being forced to pay....
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