Originally Posted by amit001

Hi Manoj, I bought a 1590 sq ft aptt in june and I spoke the GM of Spire, before buying the unit.

I believe this LOI is for the original piece of land (I got it checked by a legal guy of another developer/real estate fund, where one of my friend is working)

The GM told me that they have submitted the bank gurantee and they should receive the License in one month time. It is really worrying that they still have not received the license.

I will also like to point out that the time limit of submitting the required money, gurantees and documents as mentioned in the LOI was was mid/late june; see the LOI is dated April 2010 and the time limit was 2 months.

I am currently outside India so can not visit the office but I will be in India in September and will definately visit the office of Spire and find out the more details.

I beleive the project is really underpriced; the price of 2650-2870 of spire looks extremely attractive looking at the rates in the far off projects in sectors 80-90. Even the prices of projects in sector 37 D are touching 3000. Compared to all these locations, the location of Spire is definately much better.

But this license thing is really worrying......we need to find out details as if this is normal process and time involved in getting the required approvals or is there a issue with this project (sincerely hope not).....

Another way of checking that what spire is saying is correct is to ask for a copy of a bank gurantee, which they claim that they have submitted...

members visiting their office, could ask for the copy of bank gurantee.....

Cheers
A