The lure of quick returns: how some “SmartOwners” got stuck in not-so-smart bets on Bengaluru realty
Well-heeled NRIs have put in crores in SmartOwner’s Bengaluru projects on the promise of over 24% return. Acting through an online interface, they bought properties expecting quick exits. But with a challenging macro environment, cracks are beginning to appear. While SmartOwner admits to delays in projects, with nearly INR800 crore riding on them, it denies any breach of contract.