Real Estate Nightmare: Bengaluru Man Buys Rs 1.2 Crore Flat, Only to Find Multiple Owners

Real Estate Nightmare Bengaluru Man Buys Rs 1.2 Crore Flat, Only to Find Multiple Owners

Real Estate Nightmare: Bengaluru Man Buys Rs 1.2 Crore Flat, Only to Find Multiple Owners (Representational Image)

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The police have identified the suspects as Ranjit Sha and Mitesh Sha and Harish Shah.

An auditor based in South Bengaluru, together with five accomplices, has alleged that three siblings operating a real estate company engaged in fraudulent activities by selling six apartments within a residential complex to several purchasers through the use of counterfeit documents.

A First Information Report (FIR) was filed by the police in response to a complaint lodged by S Vidyasagar, an auditor and resident of the RRBC Pratham apartment complex located in Banashankari II Stage. The FIR named the suspects as Ranjit Sha and Mitesh Sha, who serve as directors of Rajarajeshware Builddcon Pvt Ltd situated at Nettakallappa Circle in Basavanagudi, along with their brother Harish Sha, who is the authorized signatory for the company.

Vidyasagar, aged 53, reported that he acquired one of the 20 apartments in the complex in March 2023 for a sum of Rs 1.2 crore and took possession of the property in October of the same year.

However, when he sought a loan from a bank, he was taken aback to find out that a sale agreement for the same flat had been signed in 2021 while it was still being built.

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In 2021, it was documented that the developers sold six apartments, one of which belonged to Vidyasagar, to a family. Additionally, the developer completed the sale deeds for five other apartments to various individuals.

“They told me that they would settle the matter, but nothing has happened till now. I and the five individuals who had purchased other flats like me, decided we should file a criminal complaint with the police. The apartment complex has 20 flats. We have installed a caution board on the building, saying how the owners of the six flats were duped,” said the victim.

“The FIR is registered based on Vidyasagar’s complaint, and statements from the other five owners will be added to the same. After collecting the documents, we will issue notices to the victims and suspects to take their statements. We will then file the chargesheet,”  informs the police.

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