Chavan does not want to go against the legal opinion of the advocate general.
Seven high-rise buildings were constructed at the Campa Cola Compound between 1981 and 1989.
The builders had permission for only five floors, but constructed several more.
While one of the buildings has 20 floors, another has 17.
Fighting a legal battle since 2005, the residents said they were duped by the builders and will be on the roads if their flats were pulled down.