[Resolved] Dewan Housing Finance Corporation [DHFL] — corrupt nexus of builder-financing bank and regulatory authorities | |
I am one of the thousands of victims who are trapped by mvl limited, gurgaon in their real estate projects. I had booked a flat in 2006 in their project mvl coral, bhiwadi. Builder has violated many applicable bylaws and cheated its buyers for unprecedented gains.in 2015 we also got the judgment from hon'able ncdrc. Later some amendments were also made in the final orders. You can see judgement from ncdrc web site case no. Cc/142/2012 and ea/132/2016. Actually, i would like to project the corrupt nexus between builder-financing banks and regulatory authorities in this project. 1. Nexus of builder and financing bank in mvl coral I had taken loan from dhfl bank for this project in the year 2007. Normally financing banks are reluctant to finance builder on land deals but they eagerly provide loans to buyers of flats for construction linked payment plans. The payment plan is designed in such a way that you have to pay 90% of the price of flat at the laying of top floor. By that time builder spends only 40%-50% of that money. They stop constructing further and divert funds in their other business. However, financing bank continues to provide loans to new buyers and trap them. It happened in this project also. We paid 90% amount from 2006 to 2010 and project is only partially complete after 11 years. Other bigger fraud is financing bank ignores the deviations in actual construction from the approved layout plan. Its a primary responsibility of bank to have a technical verification of the project which includes verification of approved layout plans and construction at site as per the approved layout plan. Home financing banks are normally affiliated to national housing bank. National housing bank has made it mandatory for a financing banks to inspect the construction at building site once in 3 months whether construction is as per approved layout plan or not. For this project dhfl started financing it after due technical verification of approved layout plans. But they ignored the violations during construction and helped the builder to trap more buyers for this illegal construction by continuing disbursing loans to them. When i came to know about the irregularities in construction, i started emailing the bank about these irregularities. But the bank continued financing it ignoring all my emails. When we won the case, i emailed them and asked about the technical verification and action taken on my email. This was their reply: "the developer was of your choice and as a purchaser, you alone are liable for any delay or default on the part of the developer. Only based on your selection of the developer and decision to purchase the property from him, dhfl sanctioned and disbursed the loan. Also, as a buyer it is your primary duty to satisfy yourself about the developer’scapabilities to construct the project in time and as per approved plans and permissions. You cannot hold the financial institution liable for failure on your part to do the required due diligence as a buyer" Several times i asked them to address about the core issue of technical verification and trapping gullible buyers into this project favouring the fraud builder but i never got satisfactory answer. 2. Nexus of builder and regulatory authority in mvl coral, bhiwadi where i have invested There is a town planning authority in bhiwadi which is responsible for enforcing building by laws. It is called urban improvement trust bhiwadi (Uit, bhiwadi).in mvl coral project where i had invested, uit, bhiwadi ignored number of irregularities and allowed the builder to construct further. In 2015 after i filled a complaint with uit regarding these irregularities, i think one inter - department committee was setup by uit bhiwadi to enquire about irregularities in mvl coral project. It was found, uit junior engineer had ignored the illegal construction at site. He should have stopped the work at the construction of plinth itself. Committee also recommended legal action against him. Recently another victim got a copy of internal note sheet through rti which has disclosed this. Later on as it happens, matter was suppressed internally in the department... Builder is fined just rs 135000/- for violating approved plan and builder continued to fool gullible buyers in this illegal project. Rera should include bylaws for financing banks and regulatory authorities also to break this corrupt nexus of builder-financing bank and regulatory authority. Was this information helpful? | |
Sep 4, 2017 Complaint marked as Resolved Dewan Housing Finance Corporation [DHFL] customer support has been notified about the posted complaint. Verified Support Aug 04, 2017 Dewan Housing Finance Corporation [DHFL] Customer Care's response Dear Mr. Chetan Aggarwal, We have forwarded your query to the concerned team for resolution and they shall revert to you within 72 hours. Alternatively, you may call us on[protected] or email us at [protected]@dhfl.com. Regards, Team DHFL | |
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+91 22 6600 6999
+91 22 6106 6800
201, 2nd Floor, Vipul Agora, M G Road, Gurgaon, Haryana, India - 12200
sir i am give the closing cheqe to dhfl yavatmal branch date 01/08/17 but this this chaqe did not take of[censored]ntil 09/08/2017 and current emi is also cut to my account
pl see my poto copy
We have forwarded your query to the concerned team for resolution and they shall revert to you within 72 hours.
Alternatively, you may call us on 1800 3000 1919 or email us at [email protected].
Regards,
Team DHFL
We understand that our customer care team has looked into your query and provided the best possible resolution via email. We hope we have been able to clarify the concern raised by you.
For any other account related query you may contact our customer care team directly by calling on 1800 3000 1919.
Regards,
Team DHFL