Bankrupt Auckland developer chased by creditors set to lose $3.8m Tōtara Park home and Mercedes
A $3.8 million Auckland gated home could be sold cheaply as a mortgagee sale in what would be the latest blow to a young developer, who has been declared bankrupt, chased through the courts and lost a Mercedes.
Karam Dhadli’s five-bedroom home at 378 Redoubt Rd, Tōtara Park sits on a ridgeline filled with multimillion-dollar properties and comes with swimming pool, unkept tennis court and 8094sq m lifestyle block.
It is yet to sell but offers to buy closed on June 2 – 11 days after Dhadli was adjudicated bankrupt in the High Court.
The 34-year-old is being chased by a string of creditors after a company he controlled, One Group, went into liquidation in 2024 owing an alleged $1.3m.
One creditor – building group Carters – went to the High Court chasing Dhadli for an unpaid debt and was given permission in November 2024 to tape a bankruptcy notice to his front gate if they couldn’t reach him any other way, according to court documents.
Other creditors include non-bank lenders and building suppliers – such as New Lynn’s Mitre 10 Mega, a Pink Batts maker and a concrete firm – with some lodging caveats over Dhadli’s Tōtara Park property, liquidators have reported.
Now the main lender on the home – NZGT Custodians (Challenger) – is forcing its sale.
“The mortgagee wants this property sold,” the home’s Harcourts listing said.
“Do not miss this. Simply put, this could be the best opportunity on the market.”
Trouble on Tōtara Park ridge
The sale of 378 Redoubt Rd is the latest in a rollercoaster business ride for Dhadli.
His home was already supposed to have been sold from under him.
NZGT Custodians (Challenger) had put it up for mortgagee sale at an auction in December last year.
The auction attracted a winning bid but the sale process later fell through, leading to the home recently going back on the market through tender offers only.
It is the second mortgagee sale in two years among three neighbouring homes on the same Tōtara Park ridge – each with council valuations above $3m.
All three properties have ties to Dhadli or his associates.
The neighbouring home at 372 Redoubt Rd sold at mortgagee auction in May 2024.
At the time, it had a different person listed as owner on its title. However, a 2025 High Court case linked the property to Dhadli.
The judgment recorded the home as being Dhadli’s own address and named him alongside the former property owner – who is also bankrupt – as among defendants ordered to repay $347,485 to a firm called Drive Holdings.
When that home went to mortgagee auction, it’s understood Dhadli tried to buy it.
A real estate agent who attended the 2024 auction for 372 Redoubt Rd told the Herald he saw Dhadli among the bidders.
The home on the other side, at 384 Redoubt Rd, is owned by a company controlled by one of Dhadli’s business associates.
The same man placed a caveat over Dhadli’s home and has been involved in court action to hold up its sale.
Built fast, then the guarantees came due
Public records show Dhadli built a web of businesses at speed.
Since 2020 he has set up 13 companies and developed as many as 19 townhouses across two Auckland subdivisions – five at Jupiter St in Rosehill and 14 at Titoki St in Te Atatū Peninsula.
But one of those companies – One Group – collapsed into liquidation in June 2024, owing creditors an alleged $1.3m.
Liquidators Rodgers Reidy found most of that – about $1.2m – did not come from One Group’s own borrowing.
It came from guarantees the company had given to cover money borrowed by other companies Dhadli controlled.
Dhadli told liquidators One Group ran out of money due to “the company taking on debt on behalf of another person/entity”.
The liquidators found One Group had never produced any financial statements, and its accounting system had not been updated since December 2021 – two and a half years before it failed.
One Group had also borrowed to buy three cars and still owed about $200,000 on the vehicles, including $95,000 on a Mercedes-Benz, the liquidators reported.
Dhadli also has ties to other mortgagee sales.
In December 2024, a Birkenhead property owned by one of his companies, Twenty2, was forced into a mortgagee sale and sold by a lender, property records show.
And in August 2025 – even as creditors closed in – Dhadli was still bidding at a mortgagee auction himself, according to court documents.
One of his companies won the $3.4m auction for a 4250sq m development site in Takanini, South Auckland, zoned mostly for business.
That property had been put up for mortgagee sale by the Bank of India.
Yet when it came time to hand over the $85,000 deposit, Dhadli’s company couldn’t pay up and the bank cancelled the deal the next day, court documents show.
He later admitted in court he didn’t have “firm finance” lined up for the deal at the time and so couldn’t pay.
Attempts by the Herald to reach Dhadli were unsuccessful.
SEE 378 REDOUBT RD’s ONEROOF FOR SALE LISTING HERE.