Naiknavare Developers scores 74 out of 100 in builder audit; 48 complaints span group entities

Naiknavare Developers, one of the older construction companies in Pune, has been given a working score of 74 out of 100 by PTM in its builder audit. The score is based on the evidence available, and the reliability of that evidence is rated "medium to high".

The company's history goes back to 1986. According to its own records, Prashanta in Tulshibagwale Colony was its first project. It later expanded into residential construction, commercial space, education, hospitality, slum rehabilitation and integrated townships. According to the company's website, more than 60 projects have been completed and 18 million sq ft (1.8 crore sq ft) has been built, with 3 million sq ft under construction and 6 million sq ft planned. The company says it works in five cities and that more than 13,000 families are owners in its projects. This figure is the company's own claim, not independently audited information.

The company has projects in older areas such as Kalyani Nagar, Viman Nagar, Aundh, Shivajinagar and Balewadi, and in growing belts such as Talegaon, Chakan and Vadgaon Maval. Its current projects include Central Vista, Aranya, Dwarka Township, Kutumb, Shivatman, Avon Vista, The Spires, Neelaya and Eminence.

The picture in RERA records is less straightforward. An analysis that grouped 34 entities and six PANs under the Naiknavare name shows 36 registrations, of which 11 are complete and 25 are under construction. The same data shows 48 complaints, litigation against 18 projects and 10 lapsed registrations. Of the completed projects counted for the score, 55 per cent were finished on time, while 14 projects were delayed by six months or more.

The audit says these figures must be read in context. A complaint is not proof of wrongdoing. A court case does not decide who is right. A lapsed RERA registration does not mean the project has failed, as a registration can also lapse for administrative reasons or because of the project's status. Moreover, the figure combines several separate legal entities, so it does not belong to Naiknavare Developers Pvt. Ltd. alone.

According to one tracker, this company's own separate record lists only two projects. Shivatman was completed in December 2025 instead of its original date of December 2024. Central Vista is under construction, with a declared completion date of December 2030. No complaints are recorded against either of these projects.

The score breakdown is as follows: delivery and execution 13.5/20, track record 14/15, MahaRERA and regulatory record 8/15, construction quality 7.5/10, customer experience 7/10, financial stability 6.5/10, presence in Pune 9.5/10, transparency 4/5, and innovation and sustainability 4.5/5. As the company is privately owned, a current CRISIL grading is not available, so the financial score has been kept at a middling level.

Customer feedback is mixed. On Justdial, the head office has a rating of 4.0 from 471 ratings. Recent feedback on Avon Vista is good. Older feedback includes complaints of leakage and lifts, but these are based on individual experiences.

The audit advises buyers to check the exact promoter, the RERA registration number and the phase, and to visit a project that is a few years old and talk to residents. It concludes that the brand name alone is not enough. The research cut-off date is September 2026.