Ahmedabad: Investors of the Godrej Celesta housing scheme staged a protest in the Memnagar area on Saturday, demanding justice over prolonged project delays and alleged financial mismanagement by the developer. A large number of investors gathered near the Godrej Altus project site and raised slogans against the developer, accusing it of failing to deliver promised homes and refunds.

The Dispute

Launched in 2022, the Godrej Celesta scheme reportedly collected around ₹233 crore from approximately 1,169 investors. The project, being developed by Godrej Properties in association with Shree Siddhi Group, had initially promised possession by 2025. However, as of mid-2026, the project remains incomplete, with investors claiming that not even a single floor has been constructed.

Allegations of Fund Diversion

Protesters alleged that funds collected for the Celesta project were diverted to finance other developments, including the nearby Altus project. Investors pointed out that while construction at the Altus site is progressing rapidly, work at the Celesta site has remained stagnant.

Broken Promises and Legal Action

Investors further claimed that despite an agreement in December last year to refund those unwilling to continue with the project, no refunds had been issued as of April 2026. Frustrated buyers have now escalated the matter by submitting written complaints to the Chief Minister’s Office (CMO) and the Real Estate Regulatory Authority (RERA).

Voices of Investors

Speaking to the media, one investor said, “In 2022, we felt cheated by the big name of Godrej Properties. Back then, the land was blank, but we invested because of the brand name. Today, in 2026, there is still nothing on the ground. We have paid over ₹21 lakhs, and no work is happening. It feels like our money was diverted to their Vastrapur project. This is a breach of trust.”

Another investor, Hiral Pithwa, said, “We dreamed of a home… but today that dream is buried in the ground. We are paying home loan EMIs of ₹20,000 to ₹22,000 every month for a house that doesn’t exist. When we ask questions, the staff is arrogant, telling us to go to the police or RERA. They say they will pay on their own terms or not at all.”

Taruna Joshi from Patan stated, “I came from Patan with high hopes of having a flat in a good area of Ahmedabad. They made big promises and showed us beautiful dreams, but the result on the ground is zero. I urge new investors to think a hundred times before investing in Godrej; we are suffering, don’t let it happen to you.”

Another resident highlighted ongoing RERA proceedings, stating, “We have been approaching RERA for a year. For the last six months, hearings have been ongoing. The judge asked Godrej to submit a construction plan and a timeline, but they have failed to provide anything. Even RERA has not been able to provide us support or a resolution yet; we are just getting new dates for hearings.”

An investor added, “I took this as an investment and a dream. For four years, I have been paying only interest because the construction hasn’t moved. Now, when I ask for a refund, they say they aren’t even accepting refund requests anymore. We don’t know who is responsible, Godrej points to Shree Siddhi, and Shree Siddhi points to Godrej.” DeshGujarat