RERA receives over 80 complaints against Ahmedabad’s Aavishkar Buildcon over delayed housing project

More than 80 homebuyers have filed complaints with the Real Estate Regulatory Authority (RERA) against Aavishkar Buildcon over alleged delays in handing over possession of flats in a residential project in New Vasna, Ahmedabad.

The project, named ‘NK Anantya’, was launched with plans to construct 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, according to agreements signed at the time of booking.

However, despite the lapse of the stipulated deadline, construction remains incomplete and possession has not been granted, prompting aggrieved buyers to approach RERA. A hearing in the matter commenced on Saturday.

In addition, a separate application has been submitted at Vasna Police Station seeking registration of a fraud case against the builder.

Complainants alleged that when they sought interest for the delay, the developer neither compensated them nor provided a clear timeline for completion. They further claimed that construction work has been halted due to shortage of funds.

According to buyers, work on three of the six towers remains incomplete, with wiring, flooring and other tasks pending. Construction on the remaining towers is yet to progress and is reportedly contingent on the availability of funds.

Some investors have also raised concerns regarding the management of the company, alleging that funds may have been diverted. They claimed that the firm was set up by Umang Thakkar, with his daughter-in-law Amitha, wife of Neel Thakkar, listed as a director in the project.

Buyers said that visits to the developer’s office yielded little clarity, with staff reportedly stating that construction has been stalled due to lack of funds.