Can someone share views about Gaur City 1...Are the Banks still approving & disbursing loans for Gaur City 1? I have a booking in Avenue 1 on the 12th floor.

I have heard that HDFC has stopped disbursing loans for all the projects in NE.
Read more
Reply
24 Replies
Sort by :Filter by :
  • I suggest you discuss the situation with the builder..go as a group of guys who have booked. If the bank in not financing the loan..then the deadline has to be extended. Each project has a set of financers (banks) who have approved the project..it is the builders responsibility to prove their clearence via valid documents.
    If banks are not ready to finance the builder has no right to fix a deadline.
    CommentQuote
  • Originally Posted by Shashibg
    I suggest you discuss the situation with the builder..go as a group of guys who have booked. If the bank in not financing the loan..then the deadline has to be extended. Each project has a set of financers (banks) who have approved the project..it is the builders responsibility to prove their clearence via valid documents.
    If banks are not ready to finance the builder has no right to fix a deadline.


    That is absolutely right. Many of us (who have bookings in Gaur) are planning to visit the office this Saturday and discuss our problems there.
    The major concern here is, if bank is not ready to pay, there must be some reason behind this i.e. even if we shell out money from our pockets for our next installment , will that be safe ??
    There is no clear picture on Gaur City Project, neither the officials from gaur city are coming forward to clear the air about this mess.

    I see a big uncertaininty looming over the project...
    CommentQuote
  • Originally Posted by hg2gaur
    That is absolutely right. Many of us (who have bookings in Gaur) are planning to visit the office this Saturday and discuss our problems there.
    The major concern here is, if bank is not ready to pay, there must be some reason behind this i.e. even if we shell out money from our pockets for our next installment , will that be safe ??
    There is no clear picture on Gaur City Project, neither the officials from gaur city are coming forward to clear the air about this mess.

    I see a big uncertaininty looming over the project...


    hg2gaur you are absolutely right...even if we pay from our pockets there is no guarantee that our investment will be safe...

    Since I am not in India, I will not be able to join you guys on 15th/16th July when you are planning to visit Gaursons...hope everything clears ASAP and banks restart the fundings..

    There is something strange here..private banks like HDFC & AXIS have stopped the disbursements but as informed by Gaur people Govt. banks like Corporation Bank, BOB, LIC Housing, Indian Bank & IDBI Banks are still funding Gaur City project....

    The Management of Gaursons should issue a press release and give assurance to all the investors that the project is safe and no demand letters shall be sent until all the banks restart the funding process...
    CommentQuote
  • one of my friend got following mail from Gaurson...

    Sub: Clarifications on your booked flat in 6th Avenue
    ________________________________________
    Manoj Gaur Fri, Jul 15, 2011 at 2:05 PM


    Dear Customer,
    We would first of all thank you for the immense support you have given
    us in choosing your dream homes through us. We all at the Gaursons
    family extend you our heartfelt thanks again. In making your dream a
    reality we have continued making projects keeping in mind your needs and
    choices, we as an organization have grown with you.
    We have been known our fair practice, timely possession and credibility
    in the industry the testimony to the same is our timely deliverance of
    more than 5000 apartments in our various projects in the NCR. At this
    moment also our 6 projects are ready for possession where respective
    families have already started taking possession and approximately12000
    apartments are under construction. On the basis of this past track
    record we have earned your unshakable trust over the years, we pledge
    that we will continue to up hold this trust and cherish it always.
    Further, we are pleased to inform you that your booked flat is not at
    all affected by the order passed by Hon'able Supreme Court on 6th July
    2011 as per the records available with GNIDA/ court orders. The
    construction of the same is on progress as per the scheduled program and
    we shall give the possession of your flat in time as per the date in
    your allotment letter and before the said possession
    , GNIDA will
    register sub lease in your name.

    We also would like to bring to your notice that till date there is no
    pending litigation on the land of the projects on which the flats in
    Sansand Vihar /1st Avenue (GC-1), 4th Avenue (GC-4), 5th Avenue (GC-5),
    6th Avenue (GC-6), Sanskriti Vihar (GC-10), 11th Avenue (GC-11) and 16th
    Avenue (GC-16) are being constructed. As per the records GNIDA has
    already paid full compensation to the farmers for all above mentioned
    avenues/ projects.

    Regarding the dispersal of home loans by some financial institutions we
    would like to clarify that they are just re-examining the current
    scenario as part of their due diligence before extending funding and
    they have extended their assurance that after completion of the same
    they will resume funding. Some banks have already started funding. If
    you are unable to pay your next instalment due to the discontinuation of
    payment by financial institutions during the present scenario, we would
    not charge any interest for the same during this delayed period
    .

    Gaursons has always been known for its quality and commitment and we
    will always work hard to uphold these very qualities even in the
    toughest of times. We request you not to panic due to the media coverage
    concerning GNIDA's recent court order and to keep your faith on Gaursons
    in these turbulent times.

    We have nurtured your dreams of homes with utmost care and would like
    you to keep this faith in us intact.
    You may visit our website gaurcity or pay a personal visit to
    our site to witness the progress of the construction.


    Should there be a need for any further clarification or queries please
    feel free to contact us.

    Thanks & Regards,
    Manoj Gaur
    Managing Director
    Gaursons Group
    E-mail: directorgaurcitygaurcity.co.in
    CommentQuote
  • Originally Posted by kunalmalhan15
    one of my friend got following mail from Gaurson...

    Sub: Clarifications on your booked flat in 6th Avenue
    ________________________________________
    Manoj Gaur Fri, Jul 15, 2011 at 2:05 PM


    Dear Customer,
    We would first of all thank you for the immense support you have given
    us in choosing your dream homes through us. We all at the Gaursons
    family extend you our heartfelt thanks again. In making your dream a
    reality we have continued making projects keeping in mind your needs and
    choices, we as an organization have grown with you.
    We have been known our fair practice, timely possession and credibility
    in the industry the testimony to the same is our timely deliverance of
    more than 5000 apartments in our various projects in the NCR. At this
    moment also our 6 projects are ready for possession where respective
    families have already started taking possession and approximately12000
    apartments are under construction. On the basis of this past track
    record we have earned your unshakable trust over the years, we pledge
    that we will continue to up hold this trust and cherish it always.
    Further, we are pleased to inform you that your booked flat is not at
    all affected by the order passed by Hon'able Supreme Court on 6th July
    2011 as per the records available with GNIDA/ court orders. The
    construction of the same is on progress as per the scheduled program and
    we shall give the possession of your flat in time as per the date in
    your allotment letter and before the said possession, GNIDA will
    register sub lease in your name.

    We also would like to bring to your notice that till date there is no
    pending litigation on the land of the projects on which the flats in
    Sansand Vihar /1st Avenue (GC-1), 4th Avenue (GC-4), 5th Avenue (GC-5),
    6th Avenue (GC-6), Sanskriti Vihar (GC-10), 11th Avenue (GC-11) and 16th
    Avenue (GC-16) are being constructed. As per the records GNIDA has
    already paid full compensation to the farmers for all above mentioned
    avenues/ projects.

    Regarding the dispersal of home loans by some financial institutions we
    would like to clarify that they are just re-examining the current
    scenario as part of their due diligence before extending funding and
    they have extended their assurance that after completion of the same
    they will resume funding. Some banks have already started funding. If
    you are unable to pay your next instalment due to the discontinuation of
    payment by financial institutions during the present scenario, we would
    not charge any interest for the same during this delayed period.

    Gaursons has always been known for its quality and commitment and we
    will always work hard to uphold these very qualities even in the
    toughest of times. We request you not to panic due to the media coverage
    concerning GNIDA's recent court order and to keep your faith on Gaursons
    in these turbulent times.

    We have nurtured your dreams of homes with utmost care and would like
    you to keep this faith in us intact.
    You may visit our website gaurcity or pay a personal visit to
    our site to witness the progress of the construction.

    Should there be a need for any further clarification or queries please
    feel free to contact us.

    Thanks & Regards,
    Manoj Gaur
    Managing Director
    Gaursons Group
    E-mail: directorgaurcitygaurcity.co.in



    Gud for every one who has stuck with loan hastle.......Hip Hip Hurrey:bab (22):
    CommentQuote
  • Yes, good news for Gaur City allottes.

    Does this apply only to the people who have got atleast one disbursement for Gaur City from the bank or for also for those who have got their approved home loans but banks have not yet disbursed even a single installment ???

    Any idea, please..
    CommentQuote
  • Frds,
    I have book a flat in GC-6,Gaur City-1, 2 month back. During booking builder tell me that after bankable they you will be called for next installment. Till now i did not get any Allotment letter,BBA etc, but Broker is saying that have to you have to pay till 25 Oct 12, Is HDFC start disbursal against GC-6 Guar city ? Should i give next payment without any letter ? and what is the procedure to get the allotment letter ?
    CommentQuote
  • at what rate you bought ?


    Originally Posted by tothekaushal
    Frds,
    I have book a flat in GC-6,Gaur City-1, 2 month back. During booking builder tell me that after bankable they you will be called for next installment. Till now i did not get any Allotment letter,BBA etc, but Broker is saying that have to you have to pay till 25 Oct 12, Is HDFC start disbursal against GC-6 Guar city ? Should i give next payment without any letter ? and what is the procedure to get the allotment letter ?
    CommentQuote
  • Hi,
    Gaur city has asked me to pay the interest for the period between when loan was sanctioned and the amount was released by the bank. Can someone suggest what needs to be done in this?
    I m based in US and the Gaur sales person was the only contact for me and she has always misleaded me. Now according to the people at Gaur, the sales person holds no liability. Then why is the sales person point of contact if their words hold no value? Also they don't reply to any of your mails so that they can withdraw their words anytime.

    can anyone please suggest?
    CommentQuote