Redevelopment Alert! How Builders make Bakras of Flat-owners
Mumbai, 25 th May, 2016: While we are sitting in the comfort of our homes, an unfolding tragedy is transforming proud flat-owners into paupers and destitutes who will die in tiny rented homes, senior citizens homes or in the houses of their children, and the memories of the flats that they once owned will be cremated with them. In the name of redevelopment, millions of flat owners are being led like sheep to the slaughter – not only humble salaried workers, unthinking housewives, aged pensioners, over-dependent widows, but also doctors, lawyers, CAs, MBAs, MNC executives, bureaucrats, businessmen, tech-savvy housewives and career-women. Cooperative housing societies are full of financial illiteracy, ignorance of ground realities, overconfidence and gullibility. The redevelopment mantra of cooperative housing societies is: "jo sabka hoga, woh hamara hoga, bharosa rakho" i.e. "What happens to others will happen to us, so have faith." A few thousand buil...