Complaint Details

Status	:	Un-Resolved
Complaint No	:	0061094/2016
Category	:	Real Estate
Date	:	24-04-2016
Subject Line	:	Neither hand over flat nor returning money Rs.1,55,02,825/-
Complainant	:	RAJESH
Address	:	ASWAPURAM
Complainee	:	State Bank Of India,Hyderabad
Address	:	Tellapur

Complaint Details
To, 22-04-2016

Chairman
State Bank of India, Hyderabad.

Dear Sir,

Sub. – Sanctioning of House Building loan by SBI official of Hyderabad without checking of genuiness of Builder’s Paper to favour Builder –Reg.

I(Nirbhaya Kumar Shah) and my son(Abhishek Kumar) were sanctioned house building loan in 2009 by SBI,Hyderabad official without inspecting builder’s (Aliens Developers Private Limited, Hyderabad) valid document by SBI and paid money to builder without progress as well as without registration of property (Which is the very primary checks of Bank) resulting loss of our Principal amount (Rs.1851713/- + Rs.1587500/- = Rs.3439213/-) and along with interest at the rate of 24% as per AOS since 2009 which works out to be Rs.8346905/- + Rs.7155920/-=Rs.1,55,02,825/- . For these seven years as builder did not make our apartment(intention was to cheat customer) till now and is not going to make before 2022 as orally intimated by M/S Aliens executives and that time also M/S Aliens will hand over flats with increased rate as being threatened by M/S Aliens.

Home Loan sanction details are as follows –

(1) - Builder –
ALIENS DEVELOPERS PRIVATE LIMITED

Tellapur – Village. Ramchandrapuram - Mandal.

Medak – District. (Hyderabad) – 502032.

DGPA’S Document no.-23198/06 dated 07/10/2006,
22230/06 dated 07/10/2006 and 13321/07 dated 23/062007
HUDA Permission no. 621/P4/plg/HUDA/2008 dated 11/04/2008.





(2) – Customer –

(A) NIRBHAYA KUMAR SHAH S/O LATE SRI K.P.SHAH

Flat No. - 601 in Station#1

Cost of Flat – Rs.37, 03,425/-(Including corpus fund of Rs.1, 68,000/- which is to be paid after hand over of flat)
SBI, Hyderabad Home Loan A/C No. 30878114755.

SBI, Hyderabad SAVING A/C NO.-20020305090.
(Through which EMI was paid)
Loan sanction amount – Rs.24, 34,000/-

Loan taken amount – Rs.11, 11,028/-dated 12/09/2009

Aliens reference no. - Flat no.601in station#1vide A9/SS/959 dated 23/06/2009
SBI Tripartite Agreement by - AGM, RACPC, SBI, Hyderabad Dated –12/09/2009 Amount paid to M/S Aliens - Rs.1851713/-/-(Including corpus fund excess of Rs.84,000/- which was to be paid after hand over of flat)
Balance Amount to be paid to M/S Aliens- Rs.1851712/- (Including corpus fund of Rs.84, 000/- which is to be paid after hand over of flat)

(B) ABHISHEK KUMAR S/O NIRBHAYA KUMAR SHAH

Flat No.-420 in Station#4

Cost of Flat – Rs.38, 73,353/-(Including corpus fund of Rs.1, 79,000/- which is to be paid after hand over of flat)
SBI, Hyderabad Home Loan A/C No. 31038291213.

SBI, Hyderabad Saving A/C NO - 20031656309(Through which EMI was paid)
Loan sanction amount – Rs.19, 32,000/-

Loan taken amount – Rs.600000/-dated 08/02/2010

Aliens reference no. – Flat no. 420 in station#4 vide A9/SS/918 dated 23/05/2009
SBI Tripartite Agreement- by AGM, RACPC, SBI, Hyderabad Dated -06/02/2010 Amount paid to M/S Aliens - Rs.1587500/-

Balance Amount to be paid to M/S Aliens – Rs.22, 85,853/- (Including corpus fund of Rs.1,79,000/- which is to be paid after hand over of flat only)

We have paid entire loan amount (Principal and Interest) to State Bank of India and got back our original AOS being a government officer and good citizen of India.
I request you to please inquire your official to clarify following points –

1) Did builder submit a complete project plan with construction schedule for above described residential project, to State Bank of India for Home Loan approval? Has builder submitted any amendment to the original project plan and schedule after initial submission? Please provide a copy of project plan and schedule and details of amendment like nature of change in original plan, and percentage of delay in original schedule.
2) Did builder submit a detailed cost and price estimation of above project to State Bank of India, describing the construction cost, facility and provision cost, landscaping cost, administrative cost, and the profit margin etc.? Were details of material cost, labor cost, and any other cost included under construction cost category? Were details of quality, grade, and brand etc. of construction material referenced in cost of material? Has builder submitted any amendment to the original cost or price estimation after initial submission? If yes then exactly which part of cost or price was impacted? What was the reason/rational provided by builder for this change? Did other builders also report similar cost escalation around that period? Did builder ever inform the bank about any mistake committed in costing and pricing? If yes then, did builder inform the bank about corrective measure builder planned to take? What was the percentage of error in costing or pricing if informed any? Can builder request/ask/force customer to pay additional cost without informing bank?
3) If builder amends the project plan or schedule, cost or price, without informing bank and without agreement with customer, will it impact the home loan agreement signed between customer and bank as the objective of home loan has changed? Can you please explain the objective of a consumer Home loan as described by Reserve Bank of India?
4) How frequently did Corporation Bank verify the actual project progress against the project schedule submitted by builder? Did State Bank of India ever identify any significant delay in the construction? If yes then what was the percentage of delay as per actual plan? Please provide the date of such incidents; also please provide the details of any such communication between bank and builder. As per current status of this project, can bank estimate and provide me the percentage of project completion and delay in schedule? Also please provide the number of State Bank of India home loan customers who already have got the possession of flats in this project till date.
5) The builder sent me an email to facilitate me with flat shift option to phase 1. Did builder inform bank also about such facilitation? Is bank aware about the construction phase, in which my flat 601 in Station 1 and flat 420 in station 4 falls as per project plan and schedule submitted by builder? Can builder force such facilitation upon customer without informing bank?

Hence I request you to please look into the matter and do the needful to get our apartment or principal amount with interest. I had taken home loan from SBI considering it Government of India and I am also government officer invested my whole life hard earned money.

Thanks.

NIRBHAYA KUMAR SHAH/ABHISHEK KUMAR. FLAT NO.601 IN STATION#1/FLAT NO.420 IN STATION#4

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