Archive · 24 Jul 2025
Vasavi Lake City Project in Hyderabad Delayed Again, Buyers Wait
Imagine you bought a house, and it was supposed to be finished a long time ago, but it's still not done.
That's what's happening in Hyderabad with the Vasavi Lake City project.
Over 1,850 families invested in these homes, paid most of the money, but the flats are still unfinished.
The builder promised the homes by August 2023, but keeps pushing the date back, most recently to June 2025, and now even that deadline is missed.
The buyers are upset because they're paying for both a home loan and rent, which is very stressful.
Over 1,850 families await homes in Vasavi Lake City, Hafeezpet, Hyderabad, past the delivery date.
The project, scheduled for completion by August 2023, has missed multiple deadlines, including June 2025.
Homebuyers have paid up to 90% of the flat cost, with some investing over Rs 1.5 crore.
The project is reportedly 90% complete, but finishing works are stalled due to alleged lack of funds.
Buyers are facing financial and mental strain, paying rent and loan EMIs simultaneously.
- Who
- Over 1,850 families who invested in Vasavi Lake City and the Vasavi Group developer.
- What
- Delay in the completion of the Vasavi Lake City residential project.
- When
- Originally scheduled for completion by August 2023; latest missed deadline: June 2025.
- Where
- Hafeezpet, Hyderabad.
- Why
- The builder allegedly claims a lack of funds; delays are also attributed to Covid-19.
Homebuyers' Perspective
Developer's Perspective
Project Delay Reasons
Homebuyers' Perspective
The project is significantly delayed, causing financial and mental stress.
Developer's Perspective
The project delays are primarily due to the Covid-19 pandemic and other unforeseen circumstances. The builder aims to hand over the homes by December 2025
Financial Burden
Homebuyers' Perspective
Buyers have paid a significant portion of the cost without receiving their homes.
Developer's Perspective
The developer is working to complete the remaining 10% of finishing works.
- Project Name
- Vasavi Lake City
- Location
- Hafeezpet, Hyderabad
- Developer
- Vasavi Group
- Original Completion Date
- August 2023
- Number of Families Affected
- Over 1,850
- Alleged Reason for Delay
- Lack of funds, Covid-19
- Current Status
- Awaiting completion, aim for December 2025