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A lease of lies in Bengaluru


By Y Maheswara Reddy

Are you making plans to take a area on rent in Bengaluru? Think twice before handing the rent amount to the development owner. If no longer, there are possibilities of your tale being like that of 9 households cheated by means of a man who they idea was once the landlord of the Domlur development they had leased properties in.

The 9 households were staying at 101, on 8th Cross, Domlur for 6 years. They have had no downside with the development’s owner, SA Suresh Reddy, thus far. From the 9 households, Reddy had collected a total amount of around Rs 80 lakh as rent amount. However, the households were in a rude shock on Saturday night time when employees of the asset recovery company Phoenix ARC, running on behalf of Standard Chartered Bank, arrived with police and sealed the development.

Before doing so, the police, a courtroom reliable, and Phoenix ARC employees asked the lessees to wait out of doors for a couple of minutes. The lessees obliged them without figuring out that they must wait out of doors permanently. Now, they can not enter the development since all of the doorways, including the gate, were locked and sealed by means of the team of workers of Phoenix ARC within the presence of Chief Metropolitan Court Record-keeper (sheristadar) and the police.

“They told us to wait out of doors for a couple of minutes. We obliged them without figuring out what's going on. They locked all of the dwellings stating that development belongs to P Shivaraju and Kavitha from Chamarajpet who had it seems that mortgaged the development to avail a mortgage of Rs 41 lakh from Standard Chartered Bank in 2006. We came to understand that Reddy had bought the development to Shivaraju and Kavitha in 2006,’’ laments Suresh, a lessee.

Expressing shock over the sudden development, Ramesh DK, an ex-serviceman who paid Rs 11 lakh as a rent amount, stated that lessees were not acutely aware of the sale or loan of the development. “I depended on Suresh Reddy since electricity and water expenses are in his title and he resides on the 3rd floor of the similar development. I may no longer consider it when the police told me that Reddy has not anything to do with the development,’’ says Ramesh.

I depended on Suresh Reddy since water and electricity expenses are in his title and he resides on the 3rd floor of the similar development. I may no longer consider that Reddy has not anything to do with the development

–Ramesh, a lessee

According to Reddy’s brother Babu, who lives next door, his brother had mortgaged the development with Gautham, a pawn dealer, for Rs 25 lakh in 2002 and later entered into a sale deed with P Shivaraju and Kavitha from Chamarajpet for Rs 65 lakh in 2006. “I had severed connection with my brother. I came to understand that Shivaraju and Kavitha got a mortgage of Rs 20 lakh from Standard Chartered Bank in 2006. Now, the whole arrears stands at Rs 41,35,870,’’ says Babu.


According to sources, Shivaraju and Kavitha were arrested for cheating banks. The sources stated the couple got bail but had no longer taken the possession of the development, which made it simple for Reddy to fake to be owner of the development and cheat the lessees.

“I are living in small unit. I had paid Rs 2 lakh for this but Reddy insisted that I pay Rs 50,000 extra,’’ says Armugam, a fruit and vegetable supplier.


The 9 households have approached Domlur police looking for justice. “We aren't even positive of getting our rent amount again even supposing we get a stay order from the courtroom,’’ says a bemused DK Chakravarty, any other lessee.


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