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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  • I think what Amit meant was that earlier approvals were nt there n fr dat period interest should nt be charged....
    Amit, please correct me if I gt it wrong
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  • Friends, I've purchased one 3 BHK flat in this project at the time of soft launch & have paid all installments before due date from my own resources. Now I need home loan for rest of the payment. Whether Builder will help me in getting Home loan from any bank or I myself have to approach banks. Also, pl. let me know whether its better to approach banks directly or through Telemarketing agents , which offer Home Loans etc. ? Whether these agents charges some extra fees from home loan seeker, if not what's their profit if Interest rate provided by them is same as its directly provided by Banks. Earlier in 2006,,I've taken Home loan from ICICI, which offered me same rate of Interest as that of SBI. Now, which bank is offering Lowest Interest rate & which one offers maximum Loan amount ( depending upon Credit limit of individual ).
    Awaiting for your valuable suggestions.
    Thanks
    Dinesh
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  • Dinesh ~ You can go ahead and take a loan on rest of the payment from SBI and HDFC or LIC - All are almost charging same rate of interest i.e up to 30 LAC it is 10.5 and above 30 L it is 10.75 %
    I feel its better to approach the Bank directly as my file was in HDFC and if you need you can contact HDFC - Vijay Singh (9871998548) or if you going with SBI then Mr. Rastogi in SBI can help u. Apart from those thr would be only one time processing fees taken by all bank and right now HDFC take someting around 11000 and SBI around 6500 - rest all remains same.

    You can refer my old post and get the detailed information required while appplying for the loan.
    Let me know if you have any more specific questions or any concerns, will help you out :)

    Thx
    rkb


    Originally Posted by dineshjangid
    Friends, I've purchased one 3 BHK flat in this project at the time of soft launch & have paid all installments before due date from my own resources. Now I need home loan for rest of the payment. Whether Builder will help me in getting Home loan from any bank or I myself have to approach banks. Also, pl. let me know whether its better to approach banks directly or through Telemarketing agents , which offer Home Loans etc. ? Whether these agents charges some extra fees from home loan seeker, if not what's their profit if Interest rate provided by them is same as its directly provided by Banks. Earlier in 2006,,I've taken Home loan from ICICI, which offered me same rate of Interest as that of SBI. Now, which bank is offering Lowest Interest rate & which one offers maximum Loan amount ( depending upon Credit limit of individual ).
    Awaiting for your valuable suggestions.
    Thanks
    Dinesh
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  • Dear RKB, Thanks a lot .:)
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  • Next Steps .. Need your views

    Dear friends,

    I need yr help or group discussion to drive and reach out to a consensus on pending interest charges for installment raised in Aug 2011 and paid by us recently.

    I had a discussion with couple of my close friends and legal advisiors and following is the summary ...

    1) Universal has no rights to raise the demand for 2nd installement if they are not hanving the bank loans and ppl are supposed to pay from the bank.
    2) Universal can;t start the excavation in Sep 2011 (partly or fully), if finaly maps and approvals are not in place.
    3) If still Universal is charging the interest of those 10 months then they have to give in wriitten that completion of 3 years/possession will be counts from Aug 2011 only, not from when they got the final maps i.e 5/17/2012. (Needs an alerteration in BBA)

    By this way (point #3) we are suppose to get the possession by max by end to 2014 only, otherwise Universal also have to pay the penalty for the dealyed period @10 rs per sq ft.
    As you know we can;t fight much with builder but If we all can unite on one thought and drive our consesus to Universal, I hope that would be win to win situation for us .. I wanted to know yr views / concerns before meeting with them on coming weekend.

    Baiscally Universal shud have the same date of starting the constuction i.e either it shuld be Aug 2011 or June 2012. If they are getting aggreed on first one (in written) then we have to pay the interest or if as mentioned in BBA if they still wanted to go with June 2012 they have no rights to ask the interest charges for that period and shud be waived off.

    Apart from that - FYI. Construction for 2BHK towers has been started and in full form. Latest updates /pics can be find at following link.

    Link - http://www.universalgroupindia.com/residential/universal_aura/Construction_update

    thx
    rkb
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  • Hi biyaniraj,

    I'll join you for this meeting.

    Thanks!
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  • I am am in too.
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  • I will also join you all Saturday, 30th June 11:30 AM.
    Others: Request to everyone to please join the group and get everything in black and white from the builder. They are making a long time fool of all of us.
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  • I am in as well. Lets get things sorted out as quickly as possible, and when we are in good numbers. Getting things done as individuals is almost impossible.

    Also, it would be beneficial if anyone who hasnt yet joined the Universal Aura buyers' google group: https://groups.google.com/group/universal-aura-buyers?pli=1
    does so.
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  • Hi skndbh,

    I've sent you a request to join the Google group. Please grant me access for same.

    Thanks!
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  • Really sorry guys, tough for me this saturday, I have some important meeting scheduled.

    Please let me know if this gets postponed to next saturday and please do keep me updated about the meeting if it takes place this saturday.
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  • Hi skndbh,

    I've sent you a request to join the Google group. Please grant me access for same.

    Thanks!
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  • What future prices appreciation can we expect from this project in next 1 to 2 years w.r.t other same category of projects in the New Gurgaon?

    How long should we hold on to this project & exit price with time frame?

    Saturday (30-Jun-12) request all ppl to meet up at the Universal Office 11:30 AM!
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  • Meeting on Sat

    Dear frnds,

    Pls ensure to reach Universal office tomorrow by 11.30 AM positively - We will wait max to 11.45 on ground floor and then will go in a group.

    If any reach before pls wait for all others to join till 11.45. Once we all get assembled, will go as a group.

    Thnx
    rkb
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  • Hi Pschow,

    This project is already trading on lower rates i.e close to 4000 comparing to the rates we have in this sector i.e (Mapsko trading at 4300 +, same for vatika and DLF launched at 5500). What I feel we can expect 4800-5000 psf price end of 2013 (1.5 year far) easily. Best time for resale is always before the payment made around 25-30% so that investor/end user not needs to pay more money and can be manageable or the second best time is when aptt is ready to move so at that time end user can buy this for his own.

    Thanks
    rkb


    Originally Posted by pschow
    What future prices appreciation can we expect from this project in next 1 to 2 years w.r.t other same category of projects in the New Gurgaon?

    How long should we hold on to this project & exit price with time frame?


    Saturday (30-Jun-12) request all ppl to meet up at the Universal Office 11:30 AM!
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