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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  • hi , friends i am new here ,this is a great site where everybody can find knowledge about real estate.
    i also want to know about new project in gurgaon or near by gurgaon for investment. My budget is 40 lac , plz suggest me any property in this cost .
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  • ;) Thanks RKB !!

    Originally Posted by biyaniraj
    Dinesh ~ As per Mr. Puri - Universal will go as per BB agreement i.e 3 years will be counted from 17-May-2012. Not much discussion made on this point due to lesser number of participation shown by grp and not having single united thought.

    On the counter end the best part what I feel is - Mr. Puri is also very keen to get this project completed on time, althogh there were lots of hurdles ealrier, but this is first residential project of Universal in GGN and He wanted Universal to be known as quality builder and on basis of timely delivery. (May be I m wrong - but that is only my perception)

    thx
    rkb
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  • Universal not accepting payment even after Bank approval

    Dear Friends,

    Just now I joined this group. I have booked a 2 BHK flat in Universal in first week of Feb 2012. When I booked the flat in Universal about 5 months back I was quite excited and positive and now my perception is changing especially after the interaction with the builder in the past 1 week.

    I have paid 20% payment within the stipulated timelines and kept the Universal aura executives informed that I shall be availing a loan from LIC HFL to make the 20-30% payment, as I have an existing loan with LIC. Though they were quite OK when I met them personally, they sent me a reminder later stating that I need to pay the 30% amount before 5th July 2012 ( unlike 30th June for people who did bookings long back) otherwise my flat booking shall be cancelled. I kept the executives informed that I have apllied for loan from LIC as soon as approvals came from LIC on 20th June 2012, even met Universal ppl along with LIC person. Meanwhile, the executive with whom I was interacting quit Universal.

    Finally my loan was sanctioned by LIC on 8th July and when the LIC person went to meet Universal , they informed him that they cant accept the payment as my unit is under cancellation.

    It is really unfortunate that inspite of paying the first 2 installments on time and applying for home loan as soon as the approvals were in place after keeping Universal executives informed that I shall be availing loan to pay the third (30%) installment, I am being informed that my unit is being cancelled and that too in just a matter of 3-4 days. It is particularly disappointing because my loan has been sanctioned after my rigorous follow up with LIC HFL and I have paid the loan processing fees as well. I really wonder how come such an extreme step is being planned without any discussions whereas it is clearly stated in the contract that even in a case of default, opportunity will be provided to rectify the same. The key question is why a defaulter will apply for home loan as soon as approvals are in place.

    I have written to Mr. Puri regarding the same and hopefully things will be sorted out. Please suggest if anybody else got similar threat; we need to form a group and meet them.

    I also read RKB's post somewhere it is mentioned that this was the first of the warning letter and legally they can't cancel the flat without giving 1-2 written notices to rectify the same.

    Look foward to inputs from you all!

    Thanks!
    Sidparashar


    Originally Posted by biyaniraj
    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 - Construction update | Universal

    thx
    rkb
    CommentQuote
  • Mr Parashar,
    Feeling sad for yr case but after going through yr complete post looks like either you are not aware of complete facts or taken this things very lightly. One one end you are worrrying on processing fees paid to bank and another end yr unit is on stake.

    Pls correct yr facts and see what u have missed and not acted timely.
    1) Aura project was prinicipally approved from all leading banks from very long - something around March / April -12. SBI,HDFC and LIC were the prime sources for funding this project.
    2) Generally loan process takes 15 working days for sanction and 2-3 days for disbursment. You can had yr sanction letter from LIC long back even the disbursment can be done at later stage. and If as u mentioned u were having an existing loan .. then santion should be more speed up.
    3) Poject got formally approved from all banks in first week of June (after submission of pending maps on 5/17) and even I got the disbusrment from HDFC on June 8.
    4) Universal raised the demand for next installemet (#3) on July 5 which were suppoesed to pay by July 30. I don;t know why you have not acted on timely manner as ppl are paying next demand and you exisitng demand is on hold.
    5) As u mentioned they given july 5 as a last date to you, why you havn;t talked to some other person if the one to which u aligned left the company and even u havn;t shared the thoughts in grp meeting. We had a meeting on June 30 with Mr Puri. .Pls check exisitng posts.
    6) Last but not the least, What I can suggest is just talk with only Mr. Puri, he will definitley provide a solution 2 you but on counter side its all yr mistakes / awareness which making this loss for you.

    Pls feel free to revert if you have any specific questions, will try to help u out !!!

    thx
    rkb



    Originally Posted by sidparashar
    Dear Friends,

    Just now I joined this group. I have booked a 2 BHK flat in Universal in first week of Feb 2012. When I booked the flat in Universal about 5 months back I was quite excited and positive and now my perception is changing especially after the interaction with the builder in the past 1 week.

    I have paid 20% payment within the stipulated timelines and kept the Universal aura executives informed that I shall be availing a loan from LIC HFL to make the 20-30% payment, as I have an existing loan with LIC. Though they were quite OK when I met them personally, they sent me a reminder later stating that I need to pay the 30% amount before 5th July 2012 ( unlike 30th June for people who did bookings long back) otherwise my flat booking shall be cancelled. I kept the executives informed that I have apllied for loan from LIC as soon as approvals came from LIC on 20th June 2012, even met Universal ppl along with LIC person. Meanwhile, the executive with whom I was interacting quit Universal.

    Finally my loan was sanctioned by LIC on 8th July and when the LIC person went to meet Universal , they informed him that they cant accept the payment as my unit is under cancellation.

    It is really unfortunate that inspite of paying the first 2 installments on time and applying for home loan as soon as the approvals were in place after keeping Universal executives informed that I shall be availing loan to pay the third (30%) installment, I am being informed that my unit is being cancelled and that too in just a matter of 3-4 days. It is particularly disappointing because my loan has been sanctioned after my rigorous follow up with LIC HFL and I have paid the loan processing fees as well. I really wonder how come such an extreme step is being planned without any discussions whereas it is clearly stated in the contract that even in a case of default, opportunity will be provided to rectify the same. The key question is why a defaulter will apply for home loan as soon as approvals are in place.

    I have written to Mr. Puri regarding the same and hopefully things will be sorted out. Please suggest if anybody else got similar threat; we need to form a group and meet them.

    I also read RKB's post somewhere it is mentioned that this was the first of the warning letter and legally they can't cancel the flat without giving 1-2 written notices to rectify the same.

    Look foward to inputs from you all!

    Thanks!
    Sidparashar
    CommentQuote
  • Originally Posted by biyaniraj
    Mr Parashar,
    Feeling sad for yr case but after going through yr complete post looks like either you are not aware of complete facts or taken this things very lightly. One one end you are worrrying on processing fees paid to bank and another end yr unit is on stake.

    Pls correct yr facts and see what u have missed and not acted timely.
    1) Aura project was prinicipally approved from all leading banks from very long - something around March / April -12. SBI,HDFC and LIC were the prime sources for funding this project.
    2) Generally loan process takes 15 working days for sanction and 2-3 days for disbursment. You can had yr sanction letter from LIC long back even the disbursment can be done at later stage. and If as u mentioned u were having an existing loan .. then santion should be more speed up.
    3) Poject got formally approved from all banks in first week of June (after submission of pending maps on 5/17) and even I got the disbusrment from HDFC on June 8.
    4) Universal raised the demand for next installemet (#3) on July 5 which were suppoesed to pay by July 30. I don;t know why you have not acted on timely manner as ppl are paying next demand and you exisitng demand is on hold.
    5) As u mentioned they given july 5 as a last date to you, why you havn;t talked to some other person if the one to which u aligned left the company and even u havn;t shared the thoughts in grp meeting. We had a meeting on June 30 with Mr Puri. .Pls check exisitng posts.
    6) Last but not the least, What I can suggest is just talk with only Mr. Puri, he will definitley provide a solution 2 you but on counter side its all yr mistakes / awareness which making this loss for you.

    Pls feel free to revert if you have any specific questions, will try to help u out !!!

    thx
    rkb


    Though logical approach....a person must be proactive in dealing with the situations....but do you want to say....

    UNIVERSAL is really fair in its dealings?

    I dont agree! The approach should be more rational by the builder.


    I wish the builders build the buildings with the speed and not just look for oppurtunity and harass genuine customers and cancelling out the unit in such a haste manner.

    Note:- I am not invested in the project but I am completely in agreement with the person facing the difficult situations.
    CommentQuote
  • Anyone planning or taken the second disbursment from SBI. Please let me know how much time it would take to take a second disbusment from SBI?
    CommentQuote
  • Yeah - I do agree with the fact that Universal is not fair et all in its dealings -but this doesn't mean that this gives a permission to the customers to deal in the same way - Always keep in mind that this is their first project in GGN and things will be based on facts not with attached emotions. Legally and logically as per BB which is signed by us, we can;t challenge this but I am 100% sure if anyone falling in this case can come out and discuss next steps with Mr. Puri, I hope things can be sorted out. Another way to deal is (least preferable) - if you have enough support/resources to challenge this cancellation, you can file the written complaint or moves to court, fight and let them decide. Again this all is my perceptions/thoughts ... Always remember to listen everyone but do only which looks satisfactory to you.

    Note : Pls go thru with my all post and you will get to know the complete facts, whatever I shared and its authenticity.

    thx
    rkb


    Originally Posted by rd_bmw
    Though logical approach....a person must be proactive in dealing with the situations....but do you want to say....

    UNIVERSAL is really fair in its dealings?

    I dont agree! The approach should be more rational by the builder.


    I wish the builders build the buildings with the speed and not just look for oppurtunity and harass genuine customers and cancelling out the unit in such a haste manner.

    Note:- I am not invested in the project but I am completely in agreement with the person facing the difficult situations.
    CommentQuote
  • Dear Friends,

    Thanks for ur reply and showing concern to my case.

    I am completely aware about the facts and hope the below points justify my stand.

    1. I have booked the flat only in Feb 2012 and hence deadline for paying the 20-30% payment was 5th July unlike for others it was 30th June, who have booked their flats long back.

    2. I have supporting documents to prove that final approval from LIC came on 20th June and immediately I applied for loan. One of the most important reason for me selecting the project was that I was informed that approval from LIC is in place. As you would be aware, even if the loan is sanctioned, if we dont avail the first disbursement within a stipulated timelines i.e. 90 days in this case, the loan sanction will be cancelled. There are instances in this project where some ppl got approval from LIC in Nov /Dec 2011, but since they couldnt get the loan disbursed as final approval wasnt there, their loan sanction was cancelled.

    3. I was travelling during last week of June & first week of July; I was in touch with the executive who quit in first week of July. Tried reaching others over phone, spoke to some gentleman also who promised to arrange call back from concerned person; which never happened. Finally sent the LIC person to visit Universal office who was informed that my flat is being cancelled. I am ready with all installments they demand.

    4. The key question is- though Universal is taking such extreme step in just 2 months; are we questioning them for putting the project on hold for more than a year. Rather, they are asking for late payment interest; which I beleive is not at all fair and is one-sided.

    I have been trying to reach the senior management as well over phone/ mails/ personal visits, but they are not responding/ reachable.

    I hope things will be sorted out. If anyone has Mr.Puri's contact number, request you to share the same on PM/Visitor Message
    Thanks!


    Originally Posted by rd_bmw
    Though logical approach....a person must be proactive in dealing with the situations....but do you want to say....

    UNIVERSAL is really fair in its dealings?

    I dont agree! The approach should be more rational by the builder.


    I wish the builders build the buildings with the speed and not just look for oppurtunity and harass genuine customers and cancelling out the unit in such a haste manner.

    Note:- I am not invested in the project but I am completely in agreement with the person facing the difficult situations.
    CommentQuote
  • Got the letter for 3rd Installment from universal (for Tower H, 2 BHK unit) - to be paid till 9th August 2012.
    CommentQuote
  • Originally Posted by aarora
    Anyone planning or taken the second disbursment from SBI. Please let me know how much time it would take to take a second disbusment from SBI?


    Mr. Arora : From your experience, can you pl. let me know how much Time SBI took for sanctioning Loan & 1st disbursement? I've submitted my papers to SBI agent on 7th July.
    CommentQuote
  • It would take easily around 25-30 days for the sanction of the loan and once the loan was sanctioned I got the disbursment d next day and it took me around 4-6 hrs to get the disbursment dat day.

    I would suggest follow-up with ur agent every 2-3 days and make sure that they do get back to u with d status.

    In SBI all home loan files go to d parliamemt street branch and d staff over there is not at all helpfull, even if they find somethin missin or they need somethin additional dey would send d complte file back to d branch.

    But at the same time dere are benefits also in terms of lower interest rate, low processing fees and higher amount is sanctioned as compared to HDFC.

    Hope you have a better experience dan wat I had.

    Regards,
    CommentQuote
  • Hey,

    Can you please share how much interest rate SBI is offering in contrast to other banks like HDFC, LIC etc?

    Thanks

    Originally Posted by aarora
    It would take easily around 25-30 days for the sanction of the loan and once the loan was sanctioned I got the disbursment d next day and it took me around 4-6 hrs to get the disbursment dat day.

    I would suggest follow-up with ur agent every 2-3 days and make sure that they do get back to u with d status.

    In SBI all home loan files go to d parliamemt street branch and d staff over there is not at all helpfull, even if they find somethin missin or they need somethin additional dey would send d complte file back to d branch.

    But at the same time dere are benefits also in terms of lower interest rate, low processing fees and higher amount is sanctioned as compared to HDFC.

    Hope you have a better experience dan wat I had.

    Regards,
    CommentQuote
  • Any idea about the average price of projects around the NPR (Dwarka Express Way) for those of construction activity started?
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  • Approach Road from NH8

    Biyaniraji,

    Any idea when is the road approaching from NH8 side for the Universal Aura Site & Vatika Villas ( Sector 82 ) will be ready ...

    Thanks
    CommentQuote
  • Most of the road is already in place, except one home (shown as residentail now) is coming b/w master road connecting to NH8. I believe these hurdles will be resolved out by mid of 2013 when ppl start leaving thr.. or Vatika hand over some flats ready for possession.

    Apart from that as per HUDA following is the udpate...
    Here is the official HUDA link that summarizes the construction status of sector roads in the New Ggn sectors - plz. see pages 11-13.

    http://www.huda.gov.in/Development%2...20Projects.pdf

    Additional details are on pages 41-43 (including some info abt water treatment, etc.)

    3. Construction of 75.0M & 60.0M wide master roads between Sector – 81 to 95 & outer road, Gurgaon. A/C Rs.75.80Crores.

    status : work recently allocated.

    4. Master road 99 to 115


    Status : Earth work = 3 Km .GSB = 1.80 Km . Drain = 0.40Km. Likely date of completion 19.11.2012

    5. Construction of 75.0M & 60.0M wide master roads between Sector – 81 to 95 & outer road, Gurgaon.



    status : Const. of Div. Road Sec.-82 / 83, 82/85, 84/85 and 83/84 work


    was allotted to Rs.27.65Crores to the Agency M/s Vatika Pvt. Ltd.
    in progress. 35% work completed

    6. Construction of 75.0M & 60.0M wide master roads between Sector – 81 to 95 & outer road, Gurgaon.

    status : Const. of Div. Road Sec.-81A /82A and 81/82 work was allotted


    to Rs.8.88Crores to the Agency M/s Bestech India Pvt. Ltd. in progress. 70% work completed.

    7. Construction of 75.0M & 60.0M wide master roads between Sector – 81 to 95 & outer road, Gurgaon

    status : Const. of Div. Road Sec.-90/91, 91/92, 85/89 and 86/90 work
    was allotted to Rs.23.27Crores to Agency M/s DLF Ltd. in progress. 90% work completed.

    8. Construction of portion of Road in Sector – 85, 86, 90 & 91, Gurgaon by M/s DLF Ltd (under policy for construction of infrastructure facilities,
    including master roads, by licencees) dividing road of Sector - 91/92, 92 (Outer) and Sector dividing road 85, 86.

    status :Const. of Div. Road Sec.-91/92,85/86 and outer road of Sector –
    91 was allotted to Rs.14.17Crores to Agency M/s DLF Ltd. in progress. 40% work completed.



    thx
    rkb

    Originally Posted by saibal
    Biyaniraji,

    Any idea when is the road approaching from NH8 side for the Universal Aura Site & Vatika Villas ( Sector 82 ) will be ready ...

    Thanks
    CommentQuote