Staff Reporter

Akme Projects Ltd. is owned by The Anil Nanda Group

387 people have invested in the flats

BANGALORE: Close to a year later since their last protest, their frustration and discontent has only heightened. Flat owners at Akme Ballet, a swish apartment project, staged a hunger strike outside the builder’s regional office at Indiranagar here on Saturday, asking for their “rightful ownership” over a claimed “plethora of promises” that Akme Projects Limited had made when they bought the flats in Doddannakundi.

Akme Projects Ltd., owned by The Anil Nanda Group, seems to have disappointed the 387 people who have invested in the flats, which cost an average Rs. 70 lakh each, with facilities guaranteed.

Their major contention is over the club house on the Akme Ballet premises, which was allegedly promised on an area of 16,000 sq. ft.

Owners say even after two years, the club house is yet to see the light of day.


“We paid Rs. 1 lakh for the club house, and whenever we ask the builders about it, they simply dodge us,” said Kshemal Desai, a flat owner and secretary of Akme Ballet Owners and Dwellers’ Association (ABODE).

Another issue is the handing over of maintenance and the maintenance corpus fund to ABODE. According to flat owners, Rs. 7.5 crore has been collected in the form of a corpus fund, with each owner paying around Rs. 2 lakh. ABODE members say that the maintenance and the corpus fund were to be transferred to them as soon as the association was formed. “But even after one year, they are refusing to do that,” alleges Ms. Ravi.

Also, the flat owners said, the service tax collected from individual apartment owners had not been refunded, which was in violation of a notification issued by the Government in 2009. As close to 200 people thronged the regional office of Akme Projects Limited on Saturday morning, the staff refused to open the gates to their office.

Firm’s stand

Addressing presspersons , R. Subbaraman, South India Head of Akme Projects Ltd., said that “everything was being done according to the agreement”. He said whatever the flat owners were asking for were merely “enhancements”.