In the current city (around 75,000 pop so far) that I am building the latest residential zone that I have constructed has not developed. I have waited for two Sim years and not one house has been constructed. Residential demand on the RCI indicator is high for all income groups, the desirability of the area is high for R$ Sims and medium for R$$ and R$$$ Sims, I have provided electricity, water and roads for the area, the zone is far away from any pollution and I've also built parks.
Can anyone tell me why this is happening?
Sounds like you've hit a cap. I recently was working on a city. The population stopped developing at 75,000. Same scenario - I had plenty of demand - water - etc. Those green zones just sat there mocking me. I made some road connections to the neighboring cities and presto... the city took off again.
You might try plopping another park preferably nearby. See if that gets you anywhere. I'm sure others have some ideas too.