Has anybody an idea whether necessary approvals for this project are in place?
Universal has still not given buyer seller agreement. They say the necessary approvals are not in place as yet. If that is so nobody will be able to take a loan for the installment they have demanded.
Pl share if you are facing same dilemma...
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  • Originally Posted by biyaniraj
    Hi Everyone,

    Pls don;t publish any information before knowing the complete facts, this might create panic and confusion to others.

    Universal got all required licenses on 5/16 and they have the licenses for all floors and all towers. The fact can be verified on calling all leading banks (HDFC , SBI and LIC), who are funding this project...

    My file got disbursed successfully last week from HDFC and Even I have the unit on 11th floor.
    When any one call the Bank help desk they will let u know the status of the project (approved or not), Which Tower and up to which floor.
    If still anyone have any confusion, please give a try on Cust Loan Care - HDFC - 011-41115111 and help your self.

    If any one still have any questions or doubts - all are welcome

    Apart from that .. yes couple of projects are thr which are not approved to all floors like Oris Aster Court / Carnation etc. If you call the bank help desk they will let u know the same status as Oris is approved only up to 8th floor due to land/soil density in sector 85.

    You all can enjoy. and trust me there is no hurdles in Universal and pls don;t make any rumors.

    thx
    rkb


    Hi
    greetings

    I think you have suitably justified only to be checked by those invested to confirm.

    Some job now for ORRIS Aster Court/Carnation however remains to be done now!!

    Cheers
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  • Originally Posted by BlessU
    Hi
    greetings

    I think you have suitably justified only to be checked by those invested to confirm.

    Some job now for ORRIS Aster Court/Carnation however remains to be done now!!

    Cheers


    sirjeee

    ORRIS has got all the approvals few months back....earlier 9+ floors were not approved but now they have all required approvals.

    regards
    -rd
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  • Okay !!! I bought a unit in this project in Mar 2012, from same day I have registered my self i this and Its just a difference and experience matters, anyway this is my last comment in this thread as I thought that sharing the facts will help all ppl who have invested in Universal like me but looks like ppl are not welcoming this and questioning on me and I don;t allow anyone to react like that .. better I will not share anything .. Just help yrself, do whatever feels good to you, get/share the information from Universal directly or whatever the source you have if that satisfy and more comfortable 2 u.

    Thanks Everyone Again !!!
    FYI : Just track down my all the post whatever posted in past.. You will find all information pubhished are 100% correct with 0% deviation, still decision is yr to believe or not. :)

    thx
    rkb

    Originally Posted by aarora
    R u from Universal Group itself??

    Please dont mind just it looks like as you got active only after the approvals came in from the bank and you are taking such questions very aggressively which a normal consumer like me cant do....

    Just a thought!! Please dont mind :)
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  • Hi buddy,

    Dont get emotional. Every person in this forum are to ensure that he get good deal & doesn`t get trap into these so called vicious cycle of builder. Every budy want to invest his hard earn money on a safe heaven. People may have difference in opinion but this is what we call democracy so dont react on other way. We all should take all these discussion on a very positive note.
    U have been to very informative to this forum & wish you will keep up this spirit.

    Cheers guys & happy investing.

    -Ankur

    Originally Posted by biyaniraj
    Okay !!! Its just a difference and experience matters, anyway this is my last comment in this thread as I thought that sharing the facts will help all ppl who have invested in Universal like me but looks like ppl are not welcoming this and questioning on me and I don;t allow anyone to react like that .. better I will not share anything .. Just do whatever feels good to you, get/share the information from Universal directly or whatever the source you have if that satisfy and more comfortable 2 u.

    Thanks Everyone Again !!!
    FYI : Just track down my all the post whatever posted in past.. You will find all information is correct with 0% deviation, still decision is yr to believe or not. :)

    thx
    rkb
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  • Hello RGB

    Dont get upset by the comments , you know in this world if someone doing good , there will be hundred persons who will raise finger on him. Please continue putting info on this thread , it was really very helpful and let me tell also 100% correct. We have invested our hard earned money in it, i think we should continue to discuss our concerns . atleast till project complete for possesion.

    Amit
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  • Biyaniraj Boss,

    Naraz mat ho dost......and please don't stop putting your views/comments re same because we desperately wait for your post every morning as you gave us ample of information and and confirmed news.......
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  • Universal has decided to give time until 30th June and after that they would be cancelling all the units for which payment has not been recieved.

    In july the next demand would be raised and most probably it would be after 7th July.

    Good news is that the resale rates are touching 3900-4000.
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  • Hi,

    Received a letter from Universal asking for payment by 30th June or Cancellation of allotment.
    How can they halt the project for 1.5 years and expect us to do the arrangements within a month.

    Ankul
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  • To make it worse they have increased d transfer charges to rs 100psf
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  • Biyaniraj je,

    Let me first thank you for sharing the useful information on this forum!

    Also, please do not get upset with comments from one or two members.

    Look forward to reading more comments from your side.

    Thanks again!
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  • Next Steps ..

    Thank you all guys to showing a trust on me and wanted to see my posts.
    Okay ... couple of updates ...

    1) From project perseptive, whatever done in last 1 and half year doesn;t matter much now .. this is very hot property right now in that sector and as per my info last trade was in range of 3940 to 3960 for a 2BHK unit.
    Sincerly I was hoping that price by Diwali but revising my targets now and you all will see the resale price touching 4500-4600 by end of 2012 only.

    2) Actual Construction has been started, I have seen the site and looks okay, As per my disucssion with Mr. Puri, we all going to get next installement by 7/25 that means basement slab will be started by that time.

    3) Reason to worry ...
    a) A letter has been sent to all ppl who all are still left or suppose to pay the 2nd installment (rasied in 2011). asking them to pay by 6/30 or cancellation of unit. Bascially this is just a first wanring post to that still if we not pay, legally unit will not be cancelled out but yes after 3 warning/written letter -Universal has the right to cancel out the allotment and refund (if any) with their own wish .. might going to deduct 17.5% of BSP. I hope no one going to fall in this category.
    b) PPl who paid the installment via bank loan are supposed to pay the interest @10-11 % and there is a catch that they are not asking to pay right now .. this will be adujusting at the time of possession. But this not looks convincing to me as they are not sharing the interest part and asking to pay at the time will be too much (commulative interest) - I am still not clear with this .. going to meet this week with Universal. (need all yr help to jump in and lets come to universal) - will share the details
    c) PPL who are paying this installement from yr own pocket are suppose to pay @24% for the dealy and same is going to adjust at the time of possesion or transfer.
    d) Legally they are not supposed to charge the interest on us, i m in touch with DCTP as well to check - Are they supposed to start the excavation before getting the final maps(5/17/2012) and Is asking to pay 2 installement in Aug 2011 is legal and asking interest is not a kind of harrasment ?. I don;t have any answers right now but pushing hard to get this settled out and needs all yr help.

    4) Transfer charges are 75 rs for 1st transfer and 100 rs for second and the same will be going to increase by rs 25 soon, which itself shows builder wanted to make money.. but on counter part builder asking to pay interest on 2nd insallement at the time of possession is not digesting to me as might be something hidden and at that time they will ask some other things to pay and we will not have any options. So better to clear out right now .. atleast we can pay at possesion but shud know what fixed amount we need to pay. doesn;t it ?

    thx
    rkb
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  • RKB,

    You took my comments personally......

    Its just a forum and I did'nt have any intention to hurt your sentiments and do appreciate your valuable updates on this project.

    I have asked them to prepare my account statement and I would be paying the interest on my properties by next week. As, I too doubt that there may be some catch and thus opted for making the payment upfront. I heard two sides, one that the demand would be generated after 7th July and the other one as you said on 25th July. Please let us know the update once you meet them

    Regards,
    AA
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  • Finally got my disbursment from SBI, dealing with a governement bank is really tough.
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  • My loan also get disbursed finally after a lot of stress from SBI. ( i took it from SBI jaipur , so it took long time, and meanwhile builder was calling me almost daily about it).
    Very correct RKB, interest point should be clear right now. ethacally they should not charge any ineterest as there was no progress in construction till now, we are ready to pay no won installments on time if construction goes smooth. And second point they wer not having approvals.
    Please tell me when you are going to them, i will try to join you.
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  • Hello Amit,
    We all decided to go at Universal on next SAT as 6/23 is off thr.. will meet them on 6/30 at 12 PM IST ... pls try to come and join us at 11.30 AM as couple of ohter friends also joining.

    Apart from this I m little confused on yr point #2. They are having all the approvals required for construction, only b/c of these approvals all leading banks are funding this project and we all are going to get a next demand by end of July only. Can u pls elobroate more provide more info - how u got to know or can say the project is not having required approvals ?

    thx
    rkb


    Originally Posted by Amit9981
    My loan also get disbursed finally after a lot of stress from SBI. ( i took it from SBI jaipur , so it took long time, and meanwhile builder was calling me almost daily about it).
    Very correct RKB, interest point should be clear right now. ethacally they should not charge any ineterest as there was no progress in construction till now, we are ready to pay no won installments on time if construction goes smooth. And second point they wer not having approvals.
    Please tell me when you are going to them, i will try to join you.
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