NAIKNAVARE builders have CHEATED me regarding an office I booked and paid for in their project Eminence techno park, Viman Nagar. The possession of the said office was supposed to be in March 2009. EVEN AFTER 6 YEARS, AND ENDLESS REMINDERS AND MEETINGS, I HAVE NOT RECEIVED THE POSSESSION TILL DATE. There is always some or the other excuse given from their following Managers who seem to be changing every 6-9 months.
-Mr.Tarang Patel, Mr.Madhusudan, Ms. Deepali, Mr. Chaitanya, Mr.Gaurav, Mr.Dinesh Sharma

I have suffered huge losses since I invested my hard earned money in this office so that I could earn rental income from this office. The rent receivable estimated for my office measuring 1000 sq.ft comes to Rs 7,20,000/year. This amounts to total loss of Rs 43,20,000/- till date I.e 30th Sept 2014.

On top of everything, last year, on asking for possession of my office, their office has sent me an ADDITIONAL DEMAND FOR 13,50,000 which is over and above the sale amount as per agreement registered. All the above behaviour clearly points to their intention of CHEATING me for more money above the registered sale amount and not giving me the possession of office IN ORDER TO HARASS ME AND EXTRACT MORE MONEY FROM ME. Instead of compensating me for huge losses incurred due to loss of rental income of Rs 43,20,000 over the last 6 yrs, instead they are asking me for more money (rs.13,50,000)over and above the sale agreement registered .

I have asked for several meetings since the past 5 years with their owners in order to meet them , BUT THE OWNERS ARE AVOIDING MEETING ME.
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  • Take legal action as per your registered agreement.
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  • Buy Under-construction property only if you do not currently own a house and absolutely need to buy one.

    Unless you have the capacity to take high risks, stay away from Under-construction, pre-launch and other varieties of "Proposed" projects.

    Under-construction properties offer a potential for high returns, but they also come with High-risks. People often forget the high-risk part and focus only on high-returns.

    Remember, the number of honest people in the RE/Construction builders are negligible. Most are in the business to make money for themselves and not to make money for you.
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  • Originally Posted by ruchiiyer
    NAIKNAVARE builders have CHEATED me regarding an office I booked and paid for in their project Eminence techno park, Viman Nagar. The possession of the said office was supposed to be in March 2009. EVEN AFTER 6 YEARS, AND ENDLESS REMINDERS AND MEETINGS, I HAVE NOT RECEIVED THE POSSESSION TILL DATE. There is always some or the other excuse given from their following Managers who seem to be changing every 6-9 months.
    -Mr.Tarang Patel, Mr.Madhusudan, Ms. Deepali, Mr. Chaitanya, Mr.Gaurav, Mr.Dinesh Sharma

    I have suffered huge losses since I invested my hard earned money in this office so that I could earn rental income from this office. The rent receivable estimated for my office measuring 1000 sq.ft comes to Rs 7,20,000/year. This amounts to total loss of Rs 43,20,000/- till date I.e 30th Sept 2014.

    On top of everything, last year, on asking for possession of my office, their office has sent me an ADDITIONAL DEMAND FOR 13,50,000 which is over and above the sale amount as per agreement registered. All the above behaviour clearly points to their intention of CHEATING me for more money above the registered sale amount and not giving me the possession of office IN ORDER TO HARASS ME AND EXTRACT MORE MONEY FROM ME. Instead of compensating me for huge losses incurred due to loss of rental income of Rs 43,20,000 over the last 6 yrs, instead they are asking me for more money (rs.13,50,000)over and above the sale agreement registered .

    I have asked for several meetings since the past 5 years with their owners in order to meet them , BUT THE OWNERS ARE AVOIDING MEETING ME.


    File as case in consumer court. This is the only solution left.
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  • Pull them in consumer court straight away and demand for 9500000 comensation

    9500000 = loss of rental income of Rs 43,20,000 and remaining amount for mental harassment
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  • Hi Ruchi ,

    Finally found someone who is facing the exact same problem with CHEAT BUILDER NAIKNAVARE !!
    We had booked a 5000 sq ft space & also have suffered huge losses and still continue to suffer endlessly till now .They falsely advertised in national newspapers that promised to lease your property in eminence technopark for 9 yrs . The project was supposed to be completed by 2008.
    The project was delayed by 7 yrs , we paid most of the money and have still not got the possession ,as they are trying to extort 1.5 cr more !!!!!!
    They conveniently changed the project midway from technopark to non IT and changed the name of the project too from eminence techno park to town centre !

    Same exhausting situation- managers keep changing, no answers , naiknavare not available to meet

    We have exhausted every other resource and have sent them a legal notice as a last resort !!!

    Any Investor in a similar situation with Naiknavare builders who are going thru hell - plz contact each other and collectively file a lawsuit against the crook of a builder !!!!!

    Plz spread the word around ,do some charity to the rest of humanity -

    NAIKNAVARE IS A DEADLY CANCER !!!!!!!!!! BUYERS/INVESTORS BEWARE !!!!!!!!!!
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    1 Comments
    • s.sekhars1 years ago
      Same here, I am also one of the victims. I booked a flat on March 2013, commitment was Dec 2015 but till date no possession even after continuous follow-ups, every 6 months I am getting a call project delayed an will hand ever after 6 months, now new date getting as dec 2018.
      Need to take some legal action.
      Plz contact me.
  • *rc2016


    I know its a real pain in a## !


    publish this on Facebook, whatsapp and all other social media portals so people will think BEFORE buying from this FRAUD CHEAT BUILDER


    Common man CAN TEACH A LESSION to this builder.


    Also file a case against him in consumer court ASAP get the compensation.
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  • Name and shame this builder every where there are 100 of sites for consumer complaints.

    Also, give a threat to him, that u would seat for dharana infront of his office. Get a flex board printed (costs less than 500) and show him, that if he doesn't return money or gives possession, you will seat in front of his office with flex.
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