Complaint Details

Status	:	Closed
Complaint No	:	0048460/2015
Category	:	Banking
Date	:	12-05-2015
Subject Line	:	Bad Service on our loan application | Application number 01127413
Complainant	:	Research City Business Solutions Pvt. Ltd.
Address	:	MIG II 576, kphb, phase 1 & 2
Complainee	:	DHFL Ltd.
Address	:

Complaint Details
I am writing this email regarding our loan application for a property we are planning to purchase in Kalyan Nagar, Hyderabad. We are very frustrated with how things are moving at your end and need a swifter and more favourable answer from you.

• During the 1st meeting with your executive, I was assured a sum of 40 lacs for a property which we are buying for 51 lacs in Kalyan Nagar. Based on this I gave a sum of 10 lacs to the seller and made the sale agreement.
• After almost 4 weeks I got an SMS and an email mentioning that my loan is sanctioned and approved for INR 36,91,634 of which INR 1,91,634 will go for insurance. Despite us trying our best to convince the rep that 40L is needed, the executive did not pay any heed to our requests. This actually meant that we needed to arrange 9.1 lacs more as you gave 5 lacs less + 1 lac final amount due to the seller + registration fee of 3.1 lacs. We had no choice but to agree on the conditions as a lot of time went by in the process.
• Today the executive calls us and says only 33 lacs will be given instead of earlier sanctioned amount.

33 lacs approved now means that we need to arrange 11.1 lacs (for registration and final amount settlement to seller) on top of the 10 lacs already paid which is a huge amount. We are paying 46% of the property value and only 64% is granted to us.

This is really UNFAIR & RIDICULOUS. had DHFL informed us 2 or 3 or max 1 week after they had all documents we would have moved on with another bank.

Please help us in getting the Sanction of the amount that was promised i.e. 40L or at least the second revision amount INR 36,91,634. (approval mail is attached)

Warm regards,
Binoy

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