My name is William residing in Nallasopara (W) in Maharashtra I applied for Home loan in GIC Housing Finance Ltd., Universal Bldg, 3rd Floor, Sir P.M.Road, Fort, Mumbai-400001, I handed over my all document along with processing fees of Rs. 8760/-(for resale itis 1.5% of Loan Amount) by Cheque no. 895183 date 27/05/09 of Oriental Bank of Commerce,
And cash Amount of Rs 3400/-as Agreement Franking Charges was handed over to my Agent Mr. Ashutosh Tiwari After Submitting all the Docs I went for a Personal Interview with all original Docs at Fort Office with Mr. Vinayak, He verified all my Original Docs and on the basis of my Profile I was offered a Sanction letter dated 09/04/09 with the loan amount of Rs 6, 60, 000/-and got and advice to make the balance payment of 1, 40, 000/- to the party and to do the Registration of the house, and submit the Chain of Agmnt to the Agent who in turn will forward it to the bank.
So I did the same on 07/05/09 and submitted all the docs to my agent on 10/05/09, I was told within 15 days u should get your Disbursement Cheque, but the bank used to never communicate with me directly it was only through the agent it used to communicate, every time I used to ask my agent he used to say within 2 days your work will be done, and it was such that they never use to call me up, it was me who used to call them up every day to inquire about the cheque, and only when I used to call them up they used to give me some reason or the other, like your Flat no is wrong in NOC and flat no is wrong in agmnt.
Since the flat is located on the second floor it was mentioned in the agmnt as Flat no 08, located on Second Floor, and the flat was given as 208, they had a problem with this also, they used to say why the flat no is different in the agmnt and different on the notice board and on the house, well for this reason they made me change the NOC twice, as the NOC mentioned as Flat no 208, So finally Mr. Vinayak suggested my agent to get a NOC Done to be written on the NOC as The said flat on second floor is also known as 208. I did the same and submitted on 13/06/09.
They also wanted my Name to be Typed on The NOC and not handwritten so finally did all that, So finally after lot of follow-up with my agent I was offered a sanction letter dated 19-06-09 by my agent, on 21/06/09 and was told to go to the bank for signing of Docs in front of the officer, and also to sign the Sanction Letter which is also the Offer letter. So I reached the Bank on 24/06/09, and was told that I will get the cheque in seven days, So even after giving the sanction Letter, the bank started to ask some docs, whenever I used to call my agent he used to tell me some docs are still pending, but from my agent I didn’t get proper reply about pending doc. This for your information I gave all the documents mentioned in the checklist. So I decide to visit the branch personally.
When I visited the branch on 13/07/09, I was introduced to the Disbursement officer, who told me that my file was pending for docs, despite I submitting all my docs, then how they could give me a offer letter, if my docs were pending, Docs like OC wherein my file already had a Part OC, then I was told that the share certificate was fake as the name of the complex was printed on it and the bldg name was handwritten. Since I had no option rather than to withdraw my file.
So dear all be careful before u apply for a HOme Loan in GIC its a money making company where the agents demand 3% commission on the loan amount which is taken by the agent, and forwaded to senior officers in GIC, as GIC never entertains people directly, everything is done thru an agent