cidco-homesSeveral residents of CIDCO’s mass housing project Celebrations in Kharghar met the Managing Director of CIDCO G S Gill with the appeal of reducing their flat rate keeping in mind the global slump in the realty market. However, the residents had to face disappointment as their plea was outright rejected by the MD. These are the visuals of the residents of CIDCO’s Celebration complex in Kharghar. They are standing outside CIDCO Bhavan and would be soon approaching the Managing Director’s office with their plea of reducing their flat rate to the current rate ongoing in the realty market. It maybe recalled that a year back, CIDCO had come up with its mass housing scheme at sector 16 and 17 of Kharghar. The complex named Celebration saw hopeful homebuyers filling in their application with a deposit of Rs 75000, with the allotment being done on lottery basis. While at that time, the flat was sold to the residents at the rate of Rs 3500 / sq ft, the current value of the property is far less owing to the slump in the realty market bringing in a huge depreciation of Rs 10 lakhs. Hence, the residents thought of meeting with the Managing Director of CIDCO G S Gill to reduce their rate by atleast 30 to 40%. Residents also questioned CIDCO’s role in providing the common man with affordable homes when private builders were selling flats in nearby areas at the rate of Rs 1900 to 2200 /sq ft. Another resident of Celebration complex criticized CIDCO of charging more than private builders. He further informed that the construction work at the site had also slowed down and it was not likely that they would get their flats by January 2010 as was the earmarked date. The visuals that you see now are of the same residents after their meet with the CIDCO MD G S Gill who outright rejected their demand. Residents then met with the CIDCO Chairman Nakul Patil and stated that if their demand is not heard here then they would take to streets. While at time these residents won the lottery system and got their dream homes, today they say they were not the lucky ones but the unlucky ones. While CIDCO Managing Director G S Gill refused to speak to the media on the subject, there might just not be any result from the meeting of the grieved customers with CIDCO Chairman who sits on a nominal post. With cameraperson Abhay Prasad, Sana Warsia for NMTV News.

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