Homebuyers in Bengaluru Face Legal Woes Over Illegal Mortgage
BENGALURU: The illegal or undisclosed mortgaging of land related to apartment projects is raising alarms in the city, putting homebuyers at risk of enduring legal battles and financial instability. One notable case on Anekal-Chandapura Road sees residents of a 384-flat complex struggling for ownership rights after the developer allegedly mortgaged the land and several units without informing the buyers. According to an advocate actively engaged in the matter, “Under property regulations, when apartments are sold, the land and common areas should be handed over to a cooperative society or an association of apartment owners. However, governance shortcomings and delays in…