Owners of three-storey building escape with tenants’ lease money in RT Nagar

BENGALURU: The owners of a three-story building at Kauser Nagar in RT Nagar have allegedly escaped with their tenants’ lease advance money. The tenants are now faced with an uncertain future as the lender has initiated recovery proceedings on loans.

Three families living in the building had paid Rs 16 lakh to 17 lakh each as lease amount, but after receiving the money, the owners of the three-story building, Syed Ittain and Syed Abbas, have gone missing. They had taken a home loan from LIC Finance, but could not repay it. The finance company’s officers have issued notices and warned that if the loan is not paid on time, the building will be sealed.

Now, the tenants are searching for the owners to pay back their lease deposit amount so that they can leave the property. They have also filed a complaint against the owners at the RT Nagar police station.

Ayesha, a tenant

“We are searching for the owner and we want our money back. We paid Rs 17 lakh for the lease and we’ve been here for the past 4.5 years. We got to know about the issue when our neighbours told us. We are facing many problems in the house”, said Aysha, one of the tenants.

Javed Khan, another tenant at the three-storey building

“We are living here for past four years after taking the house on lease for Rs 16 lakh. After 3-4 months, LIC officers came and put up a notice. We are not able to find him”, said Javed Khan, another tenant.