Hi I have taken loan from IDBI 2 years back. This was a composite loan of around 42 Laks for purchasing 30*40 site. At the time of purchasing the site they disbursed 25 laks. Now i am planning to build a house with minimum money as my salary has come down. I dont want the complete 17 laks to be disbursed but only 2-3 laks, in which i will build a small house where i alone can stay.

I got the necessary approval from the Municipal for building the house, but now the IDBI bank is telling that there is rule that i need to build a minimum of 600sq ft. This was never mentioned any where in the loan documents. I am telling them at i will build a small house now, and after some years will go for the complete house. But they are denying to disburse the amount for what ever i have constructed the house now. Becuase of this i have stopped my construction now.m

I am really not sure where this rule came out from, is there any rule of that sort in the home loan saying minimum amount of space needs to be build.

I am planning to complaint this to the Consumer Court, please suggest how to go about this.