Thursday, September 24, 2009


Hello Guys,
I wish to share my terrible experience with the HDFC that I am undergoing at the moment. I wanted to buy a property as an investment and was looking for options. I came across the HDFC-NAHAR 80/20 scheme where I need to pay 20% of the agreement value and the remaining 80% could be through HDFC home loan. I still repent to have fallen for this scheme as I believe it is the horrible scheme in the market where the HDFC executive give you a serious mental strain and will make you mad. I wanted to bring my anger and frustration out and hence I created a new account on twitter so that I can share my experience with you all.
After paying the initial booking amount and letting them know that I am looking for HDFC 80/20 scheme for Nahar property investors, I received no call from them.
I called Ms. Soniya (ex-sales executive of Nahar) to tell her and she told me to email this and she would take up further. I was pretty ok with all this and was in a good state of mind. I never taught anytime as this is the beginning of my suffering. I have by the way banking with HDFC bank for quite some time. I have also taken personal loan from HDFC bank which I cleared as per the 3 year schedule. I presently have HDFC car loan which I am paying my EMI's on time. In spite of all the good track record, I had to finally approach my HDFC bank at Juhu for sending an executive, which they did promptly. This is the only service, I received from them as after that I received no calls for several weeks and when finally I started getting calls from Nahar group that they would cancel my flat as I have not been able to get HDFC loan, I seriously started following it up. I was surprised that they wanted one more document from me which I arranged immediately. They also informed me that I am not eligible for Rs. 36 lacs loan but for Rs. 23 lacs because of my credit card spending. I make prompt payment of my total credit card dues but since I was in need, I accepted to this request. I was than told to show the balance Rs. 13 lacs which I was able to show them with the document that they wanted. Even, that was a experience which I will share later. I have been continuously following with the HDFC since than and each time I am told that allotment letter copy will be delivered today. However, I am still waiting for the TODAY that they mentioned, I guess it is on its way. I after follow up was also told to send allotment letter which I scanned and emailed them five days ago. I am still waiting for my HDFC home loan sanction letter to be delivered. I came to know that now they are waiting for approval from Nahar regarding who will pay the processing fees of the loan?
Am I here referring to HDFC Ltd a BSE listed top 100 company in India or am I referring to some unlabelled money lender? I am still waiting for my HDFC Home Loan sanction letter as I am writing this blog. I seriously do not know when it would come? Or whether it would come? I will keep you all posted if it is delivered to me in future. Thank you.