Lakshman (60), Lalitamma (55) and their son Sharath (40) are the dead. Loss in business and inability to repay the huge debt is said to have forced them to take the extreme step.
Neighbours informed the police after foul smell started emanating from the house.
Lakshman and Lalitamma were found dead, hanging from a ceiling fan in their bedroom while Sharath was found hanging from a ceiling fan in the hall.
The family, hailing from Bangalore, was running a hotel and a bakery here for the last six years. They owed over Rs five lakh to money lenders. Police said that the money lenders were after them to recover the money.