Builder dupes over 32 tenants in Bengaluru by leasing already sold flats

Dated on: Thursday 1st May 2025

In Bengaluru, a builder allegedly defrauded over 32 tenants by leasing flats that had already been sold or were under mortgage. One victim, Padma, leased Flats No. 305 and 405 at Sri Sai Balaji Meadows in Kodigehalli in November 2023, paying ?Rs 26 lakh in various forms. In January 2024, another individual, Sai Prashant, presented registered sale deeds for the same flats, dated September 13, 2021. Further investigation revealed that these flats were mortgaged with Indian Overseas Bank, which was preparing to confiscate them due to loan default. Authorities suspect the builder employed this scheme to lease multiple properties, collecting substantial amounts from each tenant.