Dear Sir, This is in reference to mail received from BPTP regarding cancellation of my Unit in Park Elite Floor, Faridabad (Customer ID: 124777). I have following points/sequence of events to mention for easy understanding of the case: 1. The initial cost of the Unit was 22 Lakhs, out of which I have paid 8 Lakhs in cash and submitted Loan sanction letter for remain 15 Lakhs in Year 2010 from LIC HFL, which was BPTP approved Loan agency for this project. 2. During the period 2010-2012, BPTP has raised several demands which have been disbursed by LIC HFL on time. Till date LIC HFL has disbursed Approx. 9.5 Lakhs to BPTP. 3. Out of 22 Lakhs of original cost, total amount paid by me & by LIC HFL is approx. 17.5 Lakhs (I.e 80% of original cost of the Unit). 4. From Jan’13, BPTP has raised 3 demands consecutively in the span of 15 days. Out of these three demands one demand was for the increased area of the same unit. Due to increased in area ,the overall cost the unit has increased to 30.5 Lakhs from 22 Lakhs ( I. e 38% increase as compared to original cost) 5. I have approached Area Manager, Mr. Rajeev Sethi at LIC HFL Faridabad for the disbursal of these demands and got reply that they had asked BPTP for some papers to get the increased amount disbursed. 6. LIC HFL was in talk with BPTP for required papers and it was getting delayed from BPTP side only. 7. In April’13, I received a reminder from BPTP for the payment of demands then I again approached Area Manager LIC HFL, Mr. Rajeev Sethi and Regional Manager, Mr. Ajay Grover. On my request, they have forwarded mail related to the correspondence made with BPTP’s Mr. Indebir Bhatia and Mr. Anurag Sharma and the List of papers required for disbursal of loan. 8. As per the mail received from LIC HFL, the following papers were required. (I) Paper related to Renewal of License for the project, which had already been expired. (II) The inventories detail. (III) Paper related to revalidation of project for the increased cost. 9. The mail received from LIC HFL has been forwarded to BPTP in April’13 with the request to expedite the paper submission. 10. Meanwhile, I got information from Area Manager LIC HFL that BPTP has submitted require papers for some other projects i.e Park Floor etc. (Disbursal for the same has been started immediately) and LIC HFL was in hope that require papers for Park Elite Floor will be submitted in few days. 11. In May’13, I receive mail from BPTP that BPTP is in process of arranging required papers and it will be submitted very soon. 12. I again receive mail from BPTP in May’13 with the confirmation that required papers have been submitted to Delhi Branch of LIC HFL. 13. I again contacted to LIC HFL and requested for speedy disbursal of demands. 14. However, I receive e- mail from LIC HFL Regional Manager that BPTP has submitted few papers only and BPTP has asked for some more time to arrange the remaining papers. This mail has been again forwarded
As the delay in Disbursal of Loan occurred due to expiry of license for the project and due to deficiency of document submission by BPTP, i want my unit to be revived immediately without any implication.
Complainant Information
name- rkyadav