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Bengaluru homebuyer faces ₹30 lakh loss after investing in Tier 2 builder project in Mahadevapura
The homebuyer shared that they invested ₹30 lakh in an allegedly disputed apartment building. They claimed that the builder is a fraud.
A routine home-buying journey in Bengaluru has turned into a fight for financial survival. A distraught buyer took to Reddit to reveal how they were lured into a ₹1.4 crore deal with the promise of immediate possession, only to find the builder lacked the basic legal clearances to hand over the keys. With 30 lakhs already paid and the builder demanding the remaining balance for a "disputed" registration, the individual shared the post as a warning to other homebuyers.
“Lost 30 lakhs in Bangalore real estate People in my office told me that rents will keep increasing and I should buy my own place. I tried looking for A grade builders like prestige, brigade. They were way too expensive and the flats were like matchbox so i decided to go for Tier 2 builder,” the Reddit user wrote.
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The individual added, “Found a property in Mahadevpura near Bagmane Tech park almost 2 months back for 1.4 Cr for a decent 2 bhk, which is supposed to be completed in 2 months (by now) and builder said we can move in anytime and I did the downpayment of 30 lakhs.”
When did the issue start?
The homebuyer continued, “Was applying for loan and then I came to know that the builder is fraud and they don't have the OC and some land disputes due to which people cannot move in and the previous owner is not letting anyone move in although the building is almost completed.”
The person added, “I am not alone there are 50 flats in total facing the same issue and nothing can be done. Police complaints are already filled but nothing.”
What did the builder say?
The individual claimed that the builder is now forcing them to pay the remaining amount to obtain possession of the flat.
“Now the builder is pushing me to take loan and clear the remaining payment so he can register the flat under my name which at this point is a disputed property. Or I can forget the downpayment.”
What did social media say?
An individual commented, "Planning to forget 30 lakh? This is a clear case of a builder cheating. Seek legal opinion.” The OP replied, “Yes, I am not alone, there are 50 flats in total, who are facing the same issue.”
Another expressed, “I bought a flat from a tier 2 builder. I made sure to visit a few of their previous projects and talk to the residents. Visited a few banks to ask around about the builder. It turned out fine.”
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A third posted, “Before closing the deal, hadn't you got the legal verification done for the property documents? It's important, especially in metro cities. If you had done it before making the payment, this would not have happened. Most people try to save the amount they pay to an advocate and avoid this, which results in such issues. For now, I think you should consult a good advocate and initiate legal proceedings.”
A fourth wrote, “Why didn't you do a basic legal check before investing 30 lakhs? Sorry, buddy, but it's your fault. Real estate is full of scammers and shady builders, especially in Bangalore, where even after RERA, builders exploit people like anything.”
(Disclaimer: This report is based on user-generated content from social media. HT.com has not independently verified the claims and does not endorse them.)
