Pune: Homebuyers Protest in Kharadi Over Delayed Spectrum Vertillas Project, Demand FIR Against Builder

Kharadi, 29th November 2025: Homebuyers of the Spectrum Vertillas project in Kharadi have staged a protest demanding immediate action against the developer, Armaan Sunil Kothari, alleging financial irregularities and incomplete construction. The project, registered under MahaRERA with ID P52100012616, is also being developed by Siddhant Sanjay Kothari.

According to the Vertillas Tenants’ Cooperative Housing Society, Armaan Kothari collected over Rs 200 crore from more than 130 homebuyers but has failed to complete construction of the flats. Residents claim this amounts to a large-scale financial fraud. Despite complaints filed with the Economic Offences Wing and the Pune Police Commissioner since February 2024, no FIR has been registered so far.

Many aggrieved investors gathered outside Kharadi Police Station to demand that an FIR be registered against the developer. The protest was also attended by local MLA Bapusaheb Pathare, who supported the homebuyers’ demands.

The homebuyers also allege that the developers have ignored MahaRERA directives, failed to appear for hearings, and stalled construction, causing severe financial and emotional distress. Many families are paying both EMIs and rent due to the delays.

Representatives of the society have appealed to government authorities for urgent intervention to ensure accountability and justice for the investors who have put their life savings into the project.

The statement was officially issued by the President and Secretary of Vertillas Tenants’ Cooperative Housing Society, Kharadi, Pune.