‘It’s not just about money, it’s about lost trust,’ say NRI buyers of a decade-old stalled Bengaluru township
In 2015, Dubai-based professional Errol Norrohna thought he was securing his family’s future when he invested over ₹1 crore in Bengaluru’s ambitious Ozone Urbana township near Kempegowda International Airport. Convinced by glossy brochures and heavy marketing campaigns, he even booked a second property in 2018, believing the project would be delivered on time. But by 2017, construction had stalled. When he lost his job during the pandemic in 2020 and returned to India, he discovered that the apartments he had put his savings into remained unfinished.
“At that time, the company was doing such heavy marketing that none of us suspected anything was wrong,” he said.
Norrohna is not alone. Many NRIs who invested in the Ozone Urbana project say they are now trapped in mounting debt, with homes booked more than a decade ago still undelivered. Launched in 2012 as a “world-class residential hub” near the international airport, the township promised delivery by 2016-17. Instead, the project remains incomplete, leaving buyers, most of whom paid between ₹1 crore and ₹3 crore, struggling with rising bank loans, accumulating interest, and a deep sense of betrayal.
The Ozone Urbana housing township, developed by Ozone Group, is located in Kannamangala village in North Bengaluru and comprises 2000 apartments of various dimensions spread across 45 acres. The project was launched in 2012, and the developer was expected to deliver the units by 2016-2017.
According to Norrohna, there are around 2,000 buyers in the Urbana project. Strikingly, only about 10% are domestic buyers, while the rest are NRIs from countries including the UAE, Canada, the United States, Singapore, and Malaysia.
“From Dubai alone, there are at least 100 buyers. If you add it all up, the total money invested is no less than ₹2,000 crore,” he said.
Buyers say they feel financially and emotionally stranded. Many invested their life savings, others took on bank loans, and some, like Errol, face the compounded hardship of losing jobs abroad while being tied to non-existent homes in India. The weight of EMI payments with nothing to show in return has left several families in distress.
One of the NRIs said, “I know cancer patients who, even while undergoing chemotherapy, are still running around to recover their investment. We have also seen retired defence personnel still fighting to get back the money they put into this project.”
Despite repeated assurances, the project has not seen meaningful progress in years. While buyers allege they were misled by aggressive marketing and unrealistic promises, the lack of accountability has only deepened their struggles.
“It is not just about money; it is about trust. We NRIs came back to invest in India with faith, and this is what we got,” Norrohna said.
Also Read: Bengaluru real estate: Homebuyer approaches police after developer sells his flat to a new buyer
Buyers’ say only ‘hope’ lost, justice denied
One aggrieved buyer, who wished to remain anonymous, narrated his struggles: “We paid 90% in 2014 for a township near Bengaluru Airport. Nine years later, it’s still incomplete.”
He detailed how he invested almost 90% of his apartment’s cost in 2014–15, with delivery promised for October 2016. Instead, less than half the township has been built, with facades painted only to create an illusion of progress, while land was sold to another developer and large parcels were mortgaged for thousands of crores.
The buyer also shared his legal battle of filing a case before Karnataka RERA in 2020, which resulted in an order directing the developer to refund his money with interest. But the company challenged enforcement, leading to repeated delays through appeals in the High Court. In a further twist, the developer even filed a ₹20 crore defamation suit against him, a move he called a clear attempt at intimidation.
“Despite having a clear RERA order in my favour, justice keeps getting delayed through endless appeals and stays. Why isn’t the High Court at least compelling real estate companies to deposit the refund amount in court while their appeals are heard? Unless refunds are secured upfront or appeals are routed only through the RERA Tribunal with a 100% deposit, developers will continue filing frivolous cases just to delay,” the buyer told HT.com.
Such a step would protect homebuyers from years of hopeless waiting and show that consumer rights matter more than corporate tactics. Today, RERA orders with recovery certificates already exceed ₹200 crore across more than 500 complaints, yet enforcement remains only on paper, the buyer pointed out.
HT.com has sent queries to the builder. The copy will be updated if a response is received.
Also Read: ₹3300 crore”>Bengaluru buyers association files FIR against real estate developer for fraud worth ₹3300 crore
RERA orders remain on paper, homebuyers say
Several homebuyers allege that Karnataka RERA’s orders remain largely on paper, with little relief reaching those affected.
One retired professional, who did not wish to be named, shared that he had booked an apartment in 2014 by paying ₹90 lakh, hoping it would be his post-retirement home. After retiring in March 2017, however, the project is still incomplete. In 2023, he secured a KRERA order awarding him ₹1.4 crore as compensation, but despite the ruling, the developer has not complied.
With his savings tied up in the stalled project, he has now moved back to his hometown and continues to wait for justice from the Karnataka High Court.
This is what legal experts have to say
Legal experts point out that while Karnataka RERA provides a mechanism for homebuyers to seek refunds or compensation in delayed projects, implementing its orders remains a major challenge. Once KRERA issues a ruling, the responsibility of recovering funds lies with the state’s revenue department, which must treat such dues as land arrears.
