Karnataka: No flat, aged couple wages lone battle, builder goes missing

Sharada told TNIE, “Since it was classified by the builder as affordable housing, the rates were quite economical. However, the 2BHK was built on just 545 sqft.”
R Balachandran and his wife Sharada
R Balachandran and his wife Sharada

BENGALURU: An elderly couple is at the forefront of a battle against a builder who has absconded after leaving the residential project in Electronics City unfinished. After filing a police complaint, a court case and a complaint with the Real Estate Regulatory Authority-Karnataka (RERA-K), the couple still awaits justice, six years after the project deadline expired.

Aswani Properties, in 2017, had planned a new project - Aswani Aaeesha with 223 flats (2 - 3 BHKs) at Doddanagamangala in Begur, the A-wing of which was to be completed, and the final deadline for handover to buyers was March 31, 2018, which includes three months of grace period.

70-year-old Sharada Balachandran and R Balachandran (75), had paid a total of Rs 41 lakh for two 2BHK flats, the total cost of which came up to Rs 52.5 lakh, including registration. Sharada told TNIE, “Since it was classified by the builder as affordable housing, the rates were quite economical. However, the 2BHK was built on just 545 sqft.”

As per the agreement entered into, by the builder on January 5, 2017, the project was to be handed over six years ago. “Just 70% of the project has been completed, but no flat has been fully completed. Nothing was handed over. We have repeatedly met the builder and they had assured us of its completion. However, when we found out that the office was sealed, in 2022, we filed a complaint with the Tilak Nagar police station, on March 18, 2022. We also learnt they had mortgaged a number of flats with India Bulls to mobilise finance.”

Many families have completed their flats on their own, and have started living there too. The couple wants their homes to be completed by the buuilder, plus a compensation of Rs 15 to Rs 16 lakh, for the years of delay. “We received a WhatsApp message from builder Anand Reddy that the project would be completed and also that he would pay them a rent of Rs 15,000 for each month of delay. But nothing was given to us, nor has the project been completed,” Sharada said.

Venkatramana Asula, one of the three partners of Aswami Properties told TNIE, “Anand Reddy, the main partner has absconded. There is another partner Babu Reddy and myself. I am based out of Hyderabad, and am trying to solve the problem but it is very complicated.” Venkatramana claimed that 90% of the work in the said project had been completed. “We have completed the B-Wing of the project and hand over has been successfully completed.

In the A-Wing, the lifts are not yet installed, and the the painting has to be done. The Club House and Swimming Pool also need to be completed.” He explained that many home buyers had not paid the full amount for their homes. “We are yet to get atleast Rs 7 crore from the homeowners. The only way out is to mobilise Rs 3.5 to 4 crore and hand it over to India Bulls, to get a NOC for the 106 mortgaged flats, from the finance company.”

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