SmartOwner saga: Unhappy investors weigh legal options as prop-tech firm’s projects drag on

SmartOwner saga: Unhappy investors weigh legal options as prop-tech firm’s projects drag on

The road leading up to Ruby Hills/Hills view project site; The 'view' from Hillview; Entrance arch in dilapidated state at Hill view; Sample flat at Centreo; Centreo entrance at Kanakapura road.; Photos by: N Sundaresha Subramanian

Synopsis

Four realty projects sold by the prop-tech firm to investors continue to await completion. As deadlines get renewed and exits elude, investors are running from pillar to post and venting out in WhatsApp groups. Company says at least two of the four are in advanced stages and are close to completion. ET Prime’s visit to some sites tell a different story.

A few clicks from the road intersection in front of Nagarjuna Engineering college on the road to Chikkaballapur comes the village of Beedaganahalli. The spot is about 20 kilometres ahead of the international airport. As you drive ahead on the service road, two cement walls and a dilapidated entrance arch with rusting steel rods protruding in all directions come to the view. A mud-track of red soil passes through the would-be arch, a container

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