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Status of Gaur City2

Last updated: July 8 2012
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  • Status of Gaur City2

    Hi,

    Does anyone know what is happening in the Gaur City2 Project after all this Land issue going on? I have booked a flat there and now have to pay the next installment of 30%. Since my bank has stopped the loan for the projects in NE, is there any sense to pay from my own pocket to save the late payment penalty or should I wait for the picture to become more clear?
  • #2

    #2

    Re : Status of Gaur City2

    Bank Stopped loans for Noida Extension

    My Dear and Respected Sir,

    Why don't you say to Gaur officials that loan is already approved and disbursement is stopped due to negative sentiments, so they should not impose any penalty on this. Put this in writing to them and in case they still like to impose penalty ask them to give this in writing "Even if the bank has stopped further installments you have to make the payments"
    and put this to consumer forum.
    You may think that nothing will happen but sir these things make differences. Look you are not wrong, bank has already approved/sanctioned your application which means no fault at your end it is due to uncertainty due to which this situation has arisen
    So sir take bold step and communicate it very clearly to them ultimately it is your hard earned money, i hope that i have tried to address your concern as per best of my knowledge.

    Originally posted by iromio View Post
    Hi,

    Does anyone know what is happening in the Gaur City2 Project after all this Land issue going on? I have booked a flat there and now have to pay the next installment of 30%. Since my bank has stopped the loan for the projects in NE, is there any sense to pay from my own pocket to save the late payment penalty or should I wait for the picture to become more clear?

    Comment

    • #3

      #3

      Re : Status of Gaur City2

      Originally posted by iromio View Post
      Hi,

      Does anyone know what is happening in the Gaur City2 Project after all this Land issue going on? I have booked a flat there and now have to pay the next installment of 30%. Since my bank has stopped the loan for the projects in NE, is there any sense to pay from my own pocket to save the late payment penalty or should I wait for the picture to become more clear?
      No need to pay to them & they can not force you to pay. Ask them why their project went non-bankable within a month. What is the issue with the land. I guess you have not signed the Agreement yet but just received the allotment letter. Cancel the booking, maximum you shall loose 10K, processing fees by builder. Don't use a polite language, it doesn't work in such scenario. Be bold & bang on in their office, i assure you, u'll get ur money back.

      Why to get stuck up for the longer period, take a bold step. Cancel the booking. You still have not lost anything.

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      • #4

        #4

        Re : Status of Gaur City2

        Loan

        Hi iromio,

        As far as I know, Bank of Baroda is disbursing loan for Gaur city2. Which bank is not disburing amount for Gaur city2?

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        • #5

          #5

          Re : Status of Gaur City2

          Originally posted by rishikms View Post
          Hi iromio,

          As far as I know, Bank of Baroda is disbursing loan for Gaur city2. Which bank is not disburing amount for Gaur city2?
          HDFC stopped the disbursement. Also, they r asking to change the bank which is not so easy.

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          • #6

            #6

            Re : Status of Gaur City2

            status Status of Gaur City2?

            Hi, Today i have talked with Gaurs person, he told me that IDBI and HDFC are not approving new loans and not disbursing previously approved loan amounts. In told me to apply for loan from ICICI or IndiaBulls, but i have come to know that these are taking some hidden cost.Also why i apply to some other bank when a have already applied to IDBI. He told me that i have to pay 30% on the date specified in demand letter otherwise they will impose 18% per annum penalty. Also if i cancel the booking, they will not refund booking amount (10% of basic cost). I think its not right, if bank if not giving loan then they should extend demand date.
            Regards, Pankaj

            Comment

            • #7

              #7

              Re : Status of Gaur City2

              Originally posted by pankaj007 View Post
              Hi, Today i have talked with Gaurs person, he told me that IDBI and HDFC are not approving new loans and not disbursing previously approved loan amounts. In told me to apply for loan from ICICI or IndiaBulls, but i have come to know that these are taking some hidden cost.Also why i apply to some other bank when a have already applied to IDBI. He told me that i have to pay 30% on the date specified in demand letter otherwise they will impose 18% per annum penalty. Also if i cancel the booking, they will not refund booking amount (10% of basic cost). I think its not right, if bank if not giving loan then they should extend demand date.
              Regards, Pankaj
              absolutely...go and hit them ...in their office..ye latto ke bhut hai batoo se anhi mante...hard how can they charge you if bank is not disbursing loan....on cancelation they need to refund you the complete amount as its not ur fault its their project fault.....

              PS : i have also invested in GC-6

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              • #8

                #8

                Re : Status of Gaur City2

                Status of Gaur City2?

                Now Axis Bank has also stopped disbursement for Gaur City.

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                • #9

                  #9

                  Re : Status of Gaur City2

                  Originally posted by pankaj007 View Post
                  Hi, Today i have talked with Gaurs person, he told me that IDBI and HDFC are not approving new loans and not disbursing previously approved loan amounts. In told me to apply for loan from ICICI or IndiaBulls, but i have come to know that these are taking some hidden cost.Also why i apply to some other bank when a have already applied to IDBI. He told me that i have to pay 30% on the date specified in demand letter otherwise they will impose 18% per annum penalty. Also if i cancel the booking, they will not refund booking amount (10% of basic cost). I think its not right, if bank if not giving loan then they should extend demand date.
                  Regards, Pankaj


                  Hi, this news is correct. In fact, LIC and Axis are also not disbursing the amounts.Also, all these banks have stopped disbursements in all NE projects, it seems.I have a loan for GC-10, from Bank of baroda but they are going ahead with disbursements.

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                  • #10

                    #10

                    Re : Status of Gaur City2

                    How about Gaur City 1 ?

                    Are the Banks disbursing loans for Gaur City 1? I have booked an apartment in Avenue 1. I am going to apply for a home loan thorugh HDFC Ltd.

                    As Gaur City is quite far from the controversial village land, Banks should not stop giving loans.

                    Any updates are welcome, please.

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