Gic Housing Finance — 90% Disbursement given to builder without verification/visiting site No construction platen place at location

Address:

GIC Housing Finance Ltd, 1st Floor Horizon Tower, Above kalyan janata sahakari bank, near Hariniwas Circle, Bhakti Mandir Road, Thane West 400 062.

Dear ALL,

I had purchase flat/apartment at Neral in 2015, under scheme of 2015/- (booking Amount) & rest in form of loan by GIC Finance almost 90% of the amount has been paid to M/s. Shree Mahalaxmi Developers. The possession was promised in December 2016.

I have visited the office as well as construction site and pursuing progress of our allotted flats. I regret to say that it has been observed that no construction has been taken place on the said location, it was same as shown at the time of booking. I have never been able to understand /know the actual state of construction.

I have received a letter from GIC requesting to pay Pre EMI which suppose to pay by Builder, due to failure of M/s. Shree Mahalaxmi Developers, bank is insisting me to pay the same which is not possible.

I have been receiving such massages from GIC Finance stating
"Pre EMI Installment is due by 4 months please arrange to pay at the earliest". As per agreement builder is supposed to pay PRE EMI. Because of his failure my cibil score has been destroy and now i am into defaulter list.

I have sent a letter to GIC Thane Branch Manager on 19/03/2019 through Indian Post. I have received reply after 5 months that meaningless. I have asked GIC on what basis they have disburse 90% of amount to builder without any construction.

GIC & Builder both are equally responsible for such fraudulent act.