[Resolved]  Lic Housing & Finance Ltd., Asaf Ali Road, New Delhi — Redressal of grievances

Address:

South Delhi, Delhi

Sub:-Redressal of Grievances
File No. 30490 - Asaf Ali Road, New Delhi

LICHFL granted me home loan by putting uncalled for/unwanted Clauses in the Sanction. My grievances are as under:

1) I applied for Home loan in November, 2010, with LICHFL for Rs. 15 Lac by completing all formalities and providing all original necessary documents against a Builder’s Flat costing about Rs. 35 Lac so allotted to me by “SRS.”

2) After great persuasion with LICHFL, ultimately after about 5 months, I was sanctioned loan vide their letter issued on [protected] for a sum of Rs. 10 Lac as against Rs. 15 Lac. by imposing additional conditions such as (a) one Govt. Guarantor (b) Assignment of LIC Policies worth 2 Lac.

3) I submitted all the documents so demanded by LICHFL and against Govt. Guarantor, I furnished a Guarantor Form of a person, working as a General Manager in an Internationally reputed and renowned company, drawing salary of Rs. 9 Lac p.a , whose particulars verified by the LICHFL.

4) Since then I have constantly been requesting in person the concerned officials of LICHFL and/or by sending letters/ E-mails for waiving off the Clause of Govt. Guarantor and LIC Policy, but to my surprise till date neither I have received any reply from LICHFL for waiving off the two Clauses nor they made payment of Rs. 252,572/- to the Builders against the original Demand Notice so received and given to LICHFL, last date of which was 30th May, 2011, whereby I lost not only 3% discount allowed for timely payment but I will also have to pay 18% discount for the delayed payment.

5) Against the cost of Flat, which works out to be approx. Rs. 35 Lac, LICHFL will be paying only Rs. 10 Lac in instalments and the balance amount of Rs. 25 Lac will be paid by me. Till date I have already paid a sum of approx Rs. 12.50 Lac to the Builders.

Earlier also I was sanctioned a loan of Rs. 15.30 Lac by LICHFL with no imposition of any additional Clause against the said Flat with my same particular and unchanged constitution of the company where I am working. Since the validity of sanction being 3 months expired I had to apply for loan afresh and now facing the above problems.

Since last date of validity of the Sanction being 29th June, 2011, is fast approaching, I am scared as no decision till date is communicated to me by the LICHFL for waiving off the clause.

In the end I would request your good self that keeping in view the genuineness of the case kindly intervene into the matter and arrange to get the additional Clause of Govt. Guarantor and LIC Policy waived off at the earliest and save me from the problems which I envisage in case the validity of the sanction is expired.

Rajesh Malhotra
L-2/142-B, DDA Flats, Kalkaji, New Delhi 110 019 (Mob. [protected])
email: [protected]@yahoo.co.in