Home Loan
Payments not released against builder's demand lette

I have submitted Builder's demand letter on 18/05 for payment release. The due date given by builder was 09/06 . Even several reminders to LICHFL, Aruna Asaf Ali Road, New delhi branch, it is still pending. I have called a several phone but sometimes no lift, sometimes concern person is on leave and we are not able to reach Area Manager (office incharge), as we are not able to get the direct number.

Builder imposes a penality on delayed payments @ 24% per annaum, which is a very high rate.

LIC almost everytime releases the payments with delay without any reason.

It's hopeless company, run by some lazy people.

NK Misra