Decade of Delay Under Uttam Jhavar’s Watch
Mumbai-based Morya Housing Ltd. and its sister concern Nakta Investment Pvt. Ltd., both operating under the leadership of long-time director Uttam Jhavar, are facing mounting scrutiny from regulators, buyers, and courts. For years, these companies sold dreams of timely possession and quality construction. But for hundreds of buyers, that dream remains unfulfilled.
The Morya Grand Case – A Public Flashpoint
In the much-publicized Morya Grand project in Oshiwara, buyers like Promila and Balraj Bansal booked office units back in 2009. They were promised possession within 36 months from the project’s Commencement Certificate (CC). Despite making substantial payments, possession never came. MahaRERA recently intervened, ordering the builder to execute sale agreements within 30 days and deliver completed units, with Occupancy Certificate, by December 31, 2020—or face interest penalties from January 1, 2021.
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More Families, More Fights
The Bansals are not alone. Many other families and investors across multiple Morya projects have raised similar grievances. From Kamothe to Khandeshwar and other Oshiwara projects, complaints about non-delivery, missing agreements, and refund issues continue to surface.
A review of MahaRERA records, consumer forums, and legal filings shows a disturbing pattern of defaults, pending possession cases, and non-compliance with sale agreement norms. Several families have joined forces to file group complaints, while others are fighting individual legal battles, often at great financial and emotional cost.
Uttam Jhavar’s Corporate Web
Uttam Jhavar (DIN 00009556) is listed as director in at least 19 associated companies, including Nakta Investment, Morya Properties, Oshiwara Buildcon, and Morya Housing Ltd. Industry insiders point out that corporate structuring has allowed him to spread operations across multiple entities, but buyer grievances point to a common factor: project mismanagement under his watch.
The Bigger Question: Accountability
Despite multiple registered cases and regulatory warnings, many projects remain delayed. Buyers continue to hope for delivery, but trust in the Morya brand is now at an all-time low.
With more cases pending before RERA and consumer courts, Uttam Jhavar’s name is now associated with broken timelines, legal non-compliance, and eroded customer trust.
