Lodha Group, which has several high-priced construction projects in various parts of India is hugely anti-consumer. I contracted to purchase a 2 BHK Large unit in their Lodha Belmondo Project on the outskirts of Pune in November 2012. The Builder required me to pay 20% of the Purchase price within 21 days and a further 30% of the Purchase Price within 42 days, when the building was not even at the plinth level!!! To make matters worse, they refused to co-operate with HDFC in relation to providing the documents that HDFC was asking for, and for this reason alone, though I had a sanction letter from HDFC, it refused to disburse. At the last minute I was required to pay another set of processing fees to PNB Housing Finance Ltd., and in the whole process, there was a delay of some 12 days, for which Lodha charged me penal interest @18% p.a. Thereafter, every single time it requires payment, it gives an email notification and a time of 14 days from the date of the email, but does not provide the required documents for 5-10 days thereafter, which prevents customers from getting a disbursement in time. Again the customers have to pay penal interest, because from every payment, Lodha first deducts the interest as per its calculation and reflects the balance as paid towards the Principal. What’s totally unfair is that it refuses to let a customer read the sale agreement until execution, and puts in highly unfair trading terms which include interest-free delay in delivery of 12 months to itself!!

a)Lodha must forthwith pay to me the sum of INR 25,25,500. (b)Lodha must provide a reasonable time after it has delivered the required documentation for customers to make a payment, and cease and desist from charging penal interest for atleast 2 weeks after the due date. (c)Lodha should be fair in its dealings and must share the proposed sale agreement reasonably in advance of its execution.

Complainant Information
name- MRB