I want to share my experience with LICHFL. You can experience the extreme of unprofessionalism in LICHFL offices,

specially the office at "The Plaza, S. F. 15, M.G. Road, Near Iffco Chowk, Gurgaon".

Let me start from beginning. One day a LICHFL agent named (Ram babu) approached me if I am looking for home loan. I

recently booked a under construction house in "Lotus Floor" and this agent might have got my refence from builder.

Since the "Lotus Floor" project was not approved with LICHFL, Ram babu suggested me that he will take care of this

case on individual basis. When I asked if LICHFL has verified all project documents and individual loan are

possible then he assured me that I don't have to worry and also gave me the number of area Manager Mr. K.K. Sharma.

I talked to Mr. K.K.Sharma and he also told that LICHFL is granting loan for "Lotus Floor" project on individual

basis and I can start loan processing with his branch.

I agreed and asked Ram babu to collect required documentation from me. When rambabu came to meet me first time, his

attitude was very unprofessional. He asked me to sign the application form (without filling the details) and he

said he will fill rest by himself.But I insisted and filled applicatiopn form by myself.

He took my papers and almost disappeared. After around more than one week he requested for more documents and when

I asked why he is asking for those so late, he gave me some lame excuses like he was busy in his own DLF flat

booking. Anyways I gave the documents he requested for and waited for loan sanction. Normally loan sanction take 5

-7 working days but with the greatness of this agent it took more than a month to get loan sanctioned.Everytime I

use to call him, most of the time he used to disconnect the call, few tmes he told that he will call me later and

never call and sometime he use to say that file is under process.

Final after around 1.5 months of giving documents loan got sanctioned and now the time came for loan disbursement.

this guy never gave the list of complete documents needed for loan disbursement, he used to tell me the documents

needed in bits and pieces. Anyways I arranged all documents and gave it to him. He told me that now he will take

care of legal verification which again took more than a month. Finally after three months he said now disbusement

can start. He told me that he need to buy some stamp paper for which he need Rs1000, I gave money to him. He

purchaged stamp papers of cost Rs.160 (twRs50 and three Rs20).

Finally He made one big file with empty stamp papers and many loan related agreements. When I asked him why

stamp paper are empty and what does each loan agreement states, the he said that i need not to worry. He suggested

me to sign all documents and he will fill those later. This was suprising because this was the first time in my

knowledge when somebody asked me to sign on blank stamp papers.

I took the help of one of my friend to fill those empty stamp papers and loan agreements and then submitted the file to LICHFL with all original documents. It was already 4 months of processing and I was still waiting for loan disbursement. After around 15 days when I enquired about the status they told me that come changes are required in legal report. This took another one week and then Ram babu assured me that another one week and loan will be disbursed. I waited for two weeks but nothing happened. I went to LICHFL office and I found that my file was still in gurgaon area office with no negative remark from back office.

When I asked status of disbusement to branch manager K.K.Sharma, he said that LICHFL can not disbuse the loan for this project. He gave so many lame excuses but I was not able to understand one thing that after 5 months of processing time they came to know that they can not give loan for this project.

This whole incident caused me the wastage of time, money and efforts I put in the processing. I wanted to share my LICHFL experience with everyone so that nobody else will suffer the way I am suffering.