The LICHF sanctioned housing loan and distributed four checks and kept one check till i complete the construction. The sanctioned amount is 50 % of the estimated cost of the construction. It took 6 months to release the 4 checks untill that i paid 50000/= intrest and the LICHF still asking me to wait further untill the full completion of the building. The sanctioned amount is 50% of the construction cost and expecting for a 100% completion. Untill that i have to pay intrest for the relaesed amount. The sanctione amount is 6.5 lakhs for construction. The released amount Rs. 4.5 laks for this i paid 70, 000/= intrest.after release of the final check only i have to start pay the principle. Before start paying the principle i paid 70000/- intrest for the 4.5 lakhs. Is it not a joke. How finacial institutions utilising the rule to loot the genral public. Why the LICHF not able to release the whole amount and recover imeediately. Why this delay converted to loss of money. Who will solve this sort of public problem.?
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