Tall promises in slum redevelopment not good for real estate

The developer promising freebies before election for redevelopment of three slum pockets in Andheri's RTO area, has made city's Grahak Panchayat upset. The consumer body says they are afraid, if this trend of offering such carrots is not nipped in the bud right now, it is likely to spread in near future in all SRA and other re-development projects. The MGP raised the issue with Gautam Chaterjee, MahaRERA chief. The slum dwellers have to elect one of the developers on October 3. Also according to sources, of the six developers in the fray, one developer LTR SSM Pvt Ltd, withdrew from the election process. While L&T Realty which is part of LTR SSM Pvt Ltd, declined to offer any comment, sources claimed, they had withdrawn. Even CEO of SRA Deepak Kapoor didn't respond when media asked him about the developer withdrawing from elections.