I had applied for house loan with IDBI and got sanction on 31st Dec 2009 (loan account number is: IDBI/HYD/LOAN 4U/12/194) . It took almost a month after that for legal and technical verification (that is another complaint). Now for the final approval of property of the document they are asking for Approved copy BRS(Building Regularisation Scheme).
For this my Agent (Mr. Aniil) says that no one in Hyderabad has got approval copy of BRS. If such is a case how do you expect me to get one. Bank is asking me to get a document which no one has got !!! And over that Relationship manager (Mr. Jeevan) told me that if you don’t get one, then you have to get property and wealth insurance from the bank (which is extra investment of around 75, 000 Rs).
Now, this is too much. First they ask for document that they know I will not be able to get. And then you put a condition that if you get insurance then it is all fine. They know that I am stuck with this bank, so would force extra conditions on me. So much time is already taken for this process. I cannot go to another bank (although it is approved with Hdfc, ICICI and others), as it will take more time which I cannot afford.
Don’t know what to do.