LIC housing Project at Pattom

Life Insurance Corporation of India who boasts that everylife is insured with them has behaved in a manner that NOTHING IS INSURED when dealing with them.Regarding the above housing project of LIC they have now informed the allottees that they have terminated the project stating the reason the project not viable for LIC. The allottees are now fearing that there is a foul play and the failure from the part of LIC in performance of a contract entered with the public has triggered wide spread protest.
The LIC under the scheme invited applications from Indians including NRI's during October 2006 and the cost of application was Rs150/-The response was very high and LIC selected the alloottees througha Lucky Draw held on 22.04.2007.The cost of the flat was fixed at Rs20.46lac minimum and Rs25.73 lac maximum depending upon type of flat.LIC has accepted even the First instalment of sale price from the allottees whichranges from Rs4.70lakhs to Rs5.50lakhs.There were 52 allottees and from this one can understand the huge volume of money mobilised from the public and a Govt: institution finally shedding the project siting reason NOT VIABLE.There is a clear violation of the stipulated terms and conditions of the project.
A foundation stone was laid on December 18,2006 and now they have removed the same.So this is published to make aware the public that Nothing is Insured with LIC that tomorrow -- will they be saying that a particular insurance scheme is not viable and therefore we are returning the money to the policy holders?