Customers don't have to pay pre emi if builder does not complete the project


Customers don't have to pay pre emi if builder does not complete the project
The Issue
Hello Sir,
We buy home so we can live in peace of life, but our preace is being ignored by RBI due to the incorrect way of Banking scam. We trurst banks thininking they do there verification not only on borrower but also on the one the company which is receiving money, unforunaterly its is really not true. Since banks disburse money into the builders account and they advertise there name and agree to give loans for under constructed property I request common man not to be troubled due to this mis behaviour. Should home buyer pay rent or act for the trouble of the scams of the Builders. We are not expert in big informationation, I urge RBI to take a good step. If the builder has any property which is not completed from the initial date and it is more than 2 years no banks or NBFC should issue loan to any of the projects of the builder, if it is issued then borrower should not be put in trouble.
524
The Issue
Hello Sir,
We buy home so we can live in peace of life, but our preace is being ignored by RBI due to the incorrect way of Banking scam. We trurst banks thininking they do there verification not only on borrower but also on the one the company which is receiving money, unforunaterly its is really not true. Since banks disburse money into the builders account and they advertise there name and agree to give loans for under constructed property I request common man not to be troubled due to this mis behaviour. Should home buyer pay rent or act for the trouble of the scams of the Builders. We are not expert in big informationation, I urge RBI to take a good step. If the builder has any property which is not completed from the initial date and it is more than 2 years no banks or NBFC should issue loan to any of the projects of the builder, if it is issued then borrower should not be put in trouble.
524
Petition created on 23 October 2020