Mumbai: A major home loan scam surfaced at the Laxmi Chhaya housing society on the outskirts of the city where the builders, developers and banks together duped numerous flat owners. This scam was uncovered during an investigation by a private television channel.

The owners got notices from banks for unpaid home loans though they hadn't taken any such loan. What came as a shock to the owners was that their flats were sold multiple times to different owners with home loans from different banks. The volume of this scam can run into several crores of rupees.

The investigations revealed that though the building has only 20 flats there were 54 sale agreements. Multiple loans were availed on every flat without any consent of the flat owner. In some case home loans have been sanctioned for a property of 1000 square feet in the area, while none of the flat exceeds 520 square feet. The worried owners are now being threatened to pay up or face sealing of the property.

All this points towards a lax, irresponsible and totally corrupt screening process. The bankers didn't bother to check the actual credentials and looks like some of them even didn't visit the premises or how could they lend for a 1000 square feet property? asks an aggrieved owner.

What happens to the errant officials, builders and developers remains to be seen but for the moment no one is admitting any lapse, while the innocent owners are being harassed for no fault of theirs.