More than 80 homebuyers have approached the Real Estate Regulatory Authority (RERA) against Aavishkar Buildcon, alleging delays in handing over flats in its residential project in New Vasna, Ahmedabad.
The project, ‘NK Anantya’, was launched with six 14-storey towers. Buyers, who invested between ₹65 lakh and ₹70 lakh—often through bank loans—were promised possession between December 2023 and June 2024, as per their agreements.
However, with deadlines long past, construction remains incomplete and possession has not been given, prompting buyers to file complaints. RERA has begun hearing the matter.Separately, a complaint has also been filed at the Vasna Police Station seeking registration of a fraud case against the developer.
Homebuyers alleged that despite seeking compensation for the delay, the builder has neither paid interest nor provided a clear timeline for completion. They also claimed that construction has stalled due to a shortage of funds.
According to them, three of the six towers are still unfinished, with pending work such as wiring and flooring, while construction on the remaining towers has not progressed and depends on funding availability.
Some buyers have also raised concerns over the company’s management, alleging possible diversion of funds. They said the firm was set up by Umang Thakkar, with his daughter-in-law Amitha, wife of Neel Thakkar, listed as a director.
Repeated visits to the developer’s office reportedly yielded no clarity, with staff citing lack of funds as the reason for stalled construction.