Bengaluru Homebuyer Files FIR Against Developer for Reselling Apartment in Bengaluru

A homebuyer in Bengaluru has approached the police after discovering that his apartment, which he had invested in, had been resold by the developer, Ozone Group. Bipul Bhattacharya, who had booked the apartment in the Ozone Urbana Avenue project in 2017, found out that his property was resold to a new buyer in June 2023, despite it remaining incomplete. Bhattacharya had paid ₹87 lakh for the apartment, which was promised to be handed over in 2019, but it never materialized.

The apartment in question is located on the fifth floor of Tower Q, with a carpet area of 1,093 sq. ft. Bhattacharya, upon discovering the reselling of his apartment, approached the Devanahalli Police Station to file a complaint against Ozone Group. He has stated that his apartment remains unfinished to this day, and the situation has caused him significant distress.

Bhattacharya accessed the sale documents for both transactions, which revealed that the apartment had been sold to another buyer. Following this, he initiated a formal complaint, and the police have confirmed that a preliminary investigation is ongoing. However, the FIR is yet to be registered. Authorities mentioned that the FIR would be lodged in the next few days.

This is not an isolated case involving Ozone Group. In October of the previous year, another buyer, Shashikanta Gupta, filed an FIR after discovering that his apartment in the same project had also been resold by the developer. Gupta’s apartment, which was supposed to be delivered in 2022, was instead resold in November 2021 to a new buyer. He has expressed frustration over the lack of progress in his case, stating that more than 90 days have passed since the FIR was filed, with little update on the investigation.

The Ozone Urbana Avenue project is part of the larger Ozone Urbana township, located near Bengaluru Airport. The project covers 185 acres, and construction began in 2014, with the initial promise of handing over possession to homebuyers in 2019. However, despite years of delay, the project remains stalled, and many homebuyers are still waiting for their properties to be completed. Bhattacharya and other buyers in the project have taken their grievances to multiple forums, including the Karnataka High Court, in an attempt to seek relief. In 2021, the High Court intervened and ordered a halt to the pre-EMI payments against Bhattacharya's name, which provided some relief.

In addition to the resale of apartments, there are ongoing issues with delayed project completion and unfulfilled promises from Ozone Group. As of February 2024, the Karnataka High Court gave the state government four months to recover homebuyers' money from the Ozone Urbana project, with a reported ₹93.6 crore in refunds owed to buyers, according to Karnataka RERA documents.

The ongoing issues have led to mounting frustration among buyers, many of whom are still waiting for possession of their apartments. The complaints against Ozone Group have also extended beyond individual buyers, with a Resident Welfare Association (RWA) in the township filing a complaint with the Bengaluru Crime Branch. This complaint alleges that Ozone Group promoters defrauded buyers of over ₹3,300 crore. According to the FIR, the company collected over ₹1,500 crore through mortgage loans in buyers’ names from various banks and directly took ₹1,800 crore from buyers, totaling ₹3,300 crore.

The delays in completing the Ozone Urbana project, coupled with allegations of fraud and apartment resales, have left buyers frustrated. The slow pace of investigation and lack of timely resolutions in these cases have only added to the discontent. As legal proceedings continue, buyers like Bhattacharya and Gupta are still waiting for justice.

Image source-ozonegroup.com