15 Years, No Home: Nirmal Buyers Still Waiting
• Dream Homes to Ruins: Kalyan Project Collapse
• Cheated Twice? Same Builder Bids Again
Unmesh Gujarathi
Sprouts News Exclusive
Just a few kilometers from Kalyan Station, in Vadavli village, the grand vision of Nirmal Lifestyle City was unveiled in 2010. With promises of 34 high-rise buildings, thousands of middle-class families booked their dream homes. Initially, construction progressed swiftly. But by 2015, work had stalled entirely, leaving only skeletal structures and a growing list of grievances.
According to several complaints brought to Dainik Bhaskar’s housing grievance forum, buyers accuse the developers—Dharmesh Jain and Rajeev Jain—of large-scale financial mismanagement and fraud. The matter has since escalated to court and the National Company Law Tribunal (NCLT).
• Promises Collapse, Only Ruins Remain
Mumbai redevelopment crisis deepens as buyers wait endlessly
The project initially promised over 3,500 housing units across towers ranging from 15 to 21 stories. But only 8 buildings reached completion. The remaining structures stand as barren, crumbling frames. Buyers say crores were collected, but possession was never granted.
What’s more shocking is that the same developer—Dharmesh Jain—is now bidding through a new company to “complete” the same stalled project. This has sparked outrage. “The one who cheated us is now returning as a savior,” says buyer Vishwamohan Kumar. “Is this not the failure of the system?”
Buyers now believe the system treats them as mere paper entries—forgotten and powerless in the face of corporate muscle.
• Loss of Wealth and Health in a Broken Housing System
Homebuyers struggle amid rising EMIs and mental stress
Rishi Giri, who booked a flat in Glory Building B, is still waiting after more than a decade. Sharad and Damayanti Waghmare took a home loan in 2016 for a 2BHK apartment—yet never received possession. The prolonged uncertainty has taken a toll on many buyers’ mental and physical health.
Mahendra Jain, who booked a flat in his wife’s name in 2014, paid 80% of the cost but is still waiting. He accuses banks of colluding with the developer. Dr. Suresh Kapre, who booked a flat in 2009 and registered it in 2012, says he has paid nearly the full amount but has only a concrete skeleton to show for it.
Several buyers report receiving bounced refund cheques. RERA complaints were filed after its implementation, but only formal notices were issued—no meaningful enforcement followed.
• Regulatory Gaps and Government Silence Amplify the Crisis
Buyers allege bias toward financial institutions over residents
Buyers claim RERA, NCLT, and other regulatory bodies are giving repeated hearing dates but no justice. “The institutions favor financial creditors and banks, but ignore the voices of genuine homebuyers,” says another affected resident.
Even in the few buildings where possession was given, basic amenities are missing. Residents depend on borewell water, temporary electric connections, and still have no access to legal power meters due to unresolved legal hurdles.
• Political Connections, Intimidation, and Delayed Justice
Can a failed developer now be trusted with project completion?
Buyers allege that the developer uses political connections to suppress protests and influence local authorities. The lack of unity among homebuyers is also being exploited, making it easier for the developer to re-enter the same project.
As of now, the project remains pending in NCLT. Shockingly, Dharmesh Jain—whose firm defaulted earlier—is now bidding again through another entity to take over and “complete” the very project he abandoned.
Sprouts News Special Investigation Team attempted to contact the builder for comment, but no response had been received at the time of publishing.
Also Read: Redevelopment Scam Exposed in South Mumbai’s Fanaswadi.
• Do Money and Power Decide Justice in Urban India?
In a country where slum dwellers and unauthorized colonies are granted utilities, how can a U.S. citizen and Hindu NRI be denied both justice and basic amenities for over a decade?
“This isn’t just a housing issue. It’s a reflection of systemic failure—where power protects the guilty and justice comes wrapped in court dates,” said another buyer.
As buyers continue to navigate courtrooms, legal jargon, and broken hopes, the Sprouts News Special Investigation Team will continue to uncover the deeper failures behind India’s urban development promises.