Mumbai, Sept. 16 -- After two failed attempts, Abhyudaya Nagar at Kalachowki might finally be redeveloped as three developers have shown interest in the third tender floated by the Maharashtra Housing and Area Development Authority (Mhada). The chosen developper will have to bear the entire cost of rehabilitating the existing inhabitants, and will also have to provide amenities as well as infrastructure to the current residents and build saleable homes to recover the cost of the development and make a profit. As per Mhada, the three interested developers are Oberoi Realty, Mahindra Lifespaces and MGN Agro Properties. A Mhada official said that the authority is currently analysing the technical eligibility of the bidders, and will soon check how much they have quoted for the project. The three responses to Mhada's tender came only after the carpet area (the total usable floor area within a property) to be offered to the existing residents was significantly reduced from 740 sq.ft to 635 sq.ft, and later to 620 sq.ft. In addition to the redeveloped apartments, the builder will also have to pay every flat owner a corpus of Rs.5 lakh along with a Rs.20,000 monthly rent and a four-wheeler parking slot. On March 7 in the legislative assembly, chief minister Devendra Fadnavis explained that the carpet area reduction was to make the project feasible and allow it to take off....