Pune: Ravinanda Landmarks Director Booked Over Delayed Kesnand Project, 150 Buyers Affected
Pune: Ravinanda Landmarks Director Booked Over Delayed Kesnand Project, 150 Buyers Affected
Pune, June 16, 2026: Pune Police have registered a criminal case against a city-based builder for allegedly cheating around 150 homebuyers of nearly ₹50 crore by collecting booking amounts for flats in a residential project at Kesnand and failing to complete the development despite years of delay.
The accused has been identified as Sameer Ravindra Jain, director of Ravinanda Landmarks and a resident of Arihant Housing Society in Market Yard.
The case was registered at Wagholi Police Station following a complaint filed by Sukhjit Singh Nirmal Singh Saini, chairman of the Association of Persons of Ravinanda Towers and a resident of Shukrawar Peth.
According to police, Jain entered into a joint development agreement with landowners and farmers in Kesnand on July 29, 2015, for a residential and commercial project. Under the agreement, revenue generated from the project was to be shared between the developer and landowners in a 60:40 ratio.
After obtaining the necessary approvals from the District Collector’s office and the Pune Metropolitan Region Development Authority (PMRDA), the developer launched Ravinanda Landmarks Unit V, a mixed-use residential and commercial project that was expected to be completed within five years.
Following the launch, approximately 150 buyers booked flats in the project, investing substantial amounts with the expectation of receiving homes in the rapidly developing Kesnand area.
The project included the construction of four residential towers—A, B, C and D. While construction progressed up to the seventh-floor slab level, work later came to a halt.
The developer reportedly attributed the delay to the COVID-19 pandemic. However, homebuyers alleged that despite repeated assurances and follow-ups, construction never resumed and possession of flats remained pending.
As delays continued, affected buyers formed an association and collectively pursued the matter with the developer. According to the complainants, repeated representations failed to yield any progress on the project.
The association subsequently approached the police, alleging that despite collecting nearly ₹50 crore from homebuyers, the developer neither completed the project nor handed over possession of the promised flats.
Police have launched an investigation into the allegations. The probe is being conducted by Police Inspector Mohan Khandare of the Economic Offences Wing.
The case has once again highlighted concerns over delayed housing projects and alleged financial irregularities in the real estate sector, leaving hundreds of families burdened with home loan repayments, rental expenses and uncertainty over their investments.
