Buildings mortgaged with banks, lessees and tenants in a fix

BENGALURU: A building owner allegedly collected lakhs of rupees from 20-30 people as advance rent in Kodigehalli’s Balaji Layout, claiming to be the owner of a building. However, the building is now under mortgage and the bank has issued a notice to the occupants to vacate the premises. The tenants, who paid advance rent, are worried about their future.

The building owner M K Ragu allegedly took loans from three banks on the buildings Sri Sai Shanti Nilaya, Sai Balaji Meadows, and Sai Castle apartments. He collected lakhs of rupees from tenants, claiming to be the owner, but now he’s unreachable and his phone is switched off.

The tenants filed a complaint with Kodigehalli police in April, but no chargesheet has been filed yet. Instead, the inspector allegedly scolded the tenants and sided with the builder and building owner. The tenants have now approached the Joint Police Commissioner, alleging that the inspector is not taking action and is instead harassing them.

The Joint Police Commissioner has instructed the Kodigehalli inspector to conduct a transparent investigation. Meanwhile, the tenants are worried about losing their money and being forced to vacate the premises.

The bank has already issued two or three notices, and if a third notice is issued, the tenants will have to vacate the premises. The tenants are hoping to get their advance money back before they have to vacate.

Netra, a resident of Sai Castle apartments, said, “We have been here for almost four years. We did not know who was the builder and who was the owner. We have paid money mortgaging gold ornaments. After seven months, bank officials started coming here and a notice was also issued. It was then we realized something was amiss. Sometimes, he is unreachable. Several families are in a fix and our hard-earned money is gone. Even when we approached police, we did not get a proper response from them. We will not leave the house until we get back the invested money. We are ready to fight to any extent”.