New Delhi, March 23 -- A Rs.1.5 crore ground-floor apartment in central Delhi, listed at Rs.1.2 crore, looked like a steal. Sanyam Jain thought so too and contacted the bank for details. The paperwork was clean and showed no dispute. Curious and cautiously optimistic, he decided to inspect the property before registering for the auction.

What he found changed his mind. The flat had been neglected for years, with visible structural damage. The outer boundary, an important extension for ground-floor units in the area, was missing. Neighbours had taken over the space for parking. Rebuilding it, though technically his right, would likely involve disputes with neighbours and potential run-ins with local authorities.

"Even before moving in, I...