Townscape - Vakil Housing
Beware of Vakil, they are not transparent, once you pay 25% of the value of the property you will be taken for royal ride.
Pre booking stage:
1. Talk to you very nicely, they travel 15kms within 45 minutes to collect the cheque.
2. Sales rep says that he can arrange loans from all leading banks upto 80%
3. After mentioning ICICI is my preference, he immediately says "we are not tied up with ICICI". Axis banks HDFC are the ones who fund for this project.
Once 25% of the property value is paid
1. 25% is paid, I called HDFC representative and requested him to process the loan, after 15 days the rep comes back saying that for Vakil Hamlet we are not funding
2. Only one option left which is Axis bank. Contacted by a DSA, who clarifies and says that <U>"sir as per RBI guidelines we can provide only 70%"</U>
3. I sign the application forms so that there are no more delays thinking that I can ask Vakil to push the bank to fund 80% as promised initially
4. This time different sales rep responds and reconfirms that "as per RBI guidelines only 70% will be funded"
5. Decided NOT to buy the plot and informed the same to Vakil and DSA in mail.
6. No response!!! on 27-mar-2013 I get loan sanction letter from Axis for 70% of the property value and term is 10 years (both not acceptable, even after providing the letter on retirement age loan term is 10 years) Above all loan has to be availed within 31-mar-2013 else it is void......
7. Sale Agreement was not made even after 30 days of paying the 25% of the value.
POST Cancellation Refund process
I have got refund less Rs.60,000.00, Vakil is saying that they have paid service tax, they will refund only when someone books the plot VH-15.
Requested to share the receipt of paying service tax -- No Response...
Every month I am following up for status, no one answers the phone or responds to the mail...
My brother went ahead buy another plot in same project, paid around 18 lacs loan was approved now he has to withdraw as Vakil is not in position to register any sites in Hamlet at Gijani.
TILL DATE NO CLUE WHEN I WILL GET THE COMPLETE REFUND... VAKIL IS NOT COMMITTING ON ANY DATE OF REFUND.
BEWARE OF VAKIL