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. spoke to universal crm and was told that sbi has approved loans for the project however i am not sure because they know i will not be in india for one month. i request others invested to also check with universal and confirm if its true. thanks.
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  • Originally Posted by Sameer71
    hi friends. spoke to universal crm and was told that sbi has approved loans for the project however i am not sure because they know i will not be in india for one month. i request others invested to also check with universal and confirm if its true. thanks.



    Last week spoke to one of the CRM she told the Approvals will take another 1 or 1.5 months!

    Others pls revert on this...

    Also saw the project site, only the pit has been dug out & board has been put up nothing else!
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  • Thanks for the info. I thought so too thats why i wanted to check with others
    invested. These crm people tell a lot of stories. By the way the dlf launch in 82A
    has generated lots of interest in this projects . Getting lots of broker calls and the price offered is increasing. Only hope universal gets clearance and actual work starts then it would fetch better price. Thanks.
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  • I also got 2 calls from Brokers in last week & asking to sell our flat in Universal Aura. But the price offered is not very good. But these will also shoot up once Home Loan will get approved from banks for this project. I hope that with-in 2-3 months this will also be cleared. Don't know but somehow I believe that Universal Group is slow in progress but they will not cheat its customers.
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  • Dinesh Bhai,
    Meri mano to try to sell it at any suitable higher rate because if the builder is not honest with customers at the starting of project, there is not surety he will deliver things as promised later as well. Since you have give only 30% so far, the amount is also not that big. My recommendation is to sell it off at whatever best offer you get and look for a more reliable builder.

    Rajinder


    Originally Posted by dineshjangid
    I also got 2 calls from Brokers in last week & asking to sell our flat in Universal Aura. But the price offered is not very good. But these will also shoot up once Home Loan will get approved from banks for this project. I hope that with-in 2-3 months this will also be cleared. Don't know but somehow I believe that Universal Group is slow in progress but they will not cheat its customers.
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  • Rajinder seems to be a broker....I got to know that Gurgaon brokers have started to buy file of Universal Aura at lower prices by showing the gloomy scenario of the builder. They will soon come out with these -"files in hand" punch line- in the market at higher prices.

    I suggest you to not to sell, if you are selling anyhow, just google Universal Aura resale or any property name to get the decent brokers, who will get you the right price. If you want to earn return, just do a bit effort an reward your broker.
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  • I also support in not selling at this point of time, coz 2-3 months for approval and after that i expect the prices to be some where around 3400-3500 giving all of us decent returns. So what i will say not to sell now and destabilize the prices and returns.:bab (45):

    What other folks say?

    There is some development cmg in the project so as the reason the brokers r gettin active!:)
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  • Originally Posted by pschow
    I also support in not selling at this point of time, coz 2-3 months for approval and after that i expect the prices to be some where around 3400-3500 giving all of us decent returns. So what i will say not to sell now and destabilize the prices and returns.:bab (45):

    What other folks say?

    There is some development cmg in the project so as the reason the brokers r gettin active!:)


    Dear sir, I was offered 3400 yesterday by a broker. If loans get approved i expect another 100-200 rupees extra.
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  • Hi Kumaranshul,
    Though I need not to clarify you....I am not a broker but an investor like all others in this forums. Those were my personal views. I feel if a project has not been able to fulfill its commitments, its always safe to exit rather than invest you hard earned money and later regret.

    Though I have not invested in this project, but burnt my fingers in another project. Those feelings were from my personal experience.

    Rajinder

    Originally Posted by kumaranshul
    Rajinder seems to be a broker....I got to know that Gurgaon brokers have started to buy file of Universal Aura at lower prices by showing the gloomy scenario of the builder. They will soon come out with these -"files in hand" punch line- in the market at higher prices.

    I suggest you to not to sell, if you are selling anyhow, just google Universal Aura resale or any property name to get the decent brokers, who will get you the right price. If you want to earn return, just do a bit effort an reward your broker.
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  • Originally Posted by pschow
    I also support in not selling at this point of time, coz 2-3 months for approval and after that i expect the prices to be some where around 3400-3500 giving all of us decent returns. So what i will say not to sell now and destabilize the prices and returns.:bab (45):

    What other folks say?

    There is some development cmg in the project so as the reason the brokers r gettin active!:)



    I am already getting offers around 3350 - 3400. Once the constructions starts, the prices should should easliy be around 3700- 3800.

    I would be holding my unit for sure, if we have waited fr 1.5 years, whats the harm in waiting fr another 6 months - 1 year.
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  • Originally Posted by aarora
    I am already getting offers around 3350 - 3400. Once the constructions starts, the prices should should easliy be around 3700- 3800.

    I would be holding my unit for sure, if we have waited fr 1.5 years, whats the harm in waiting fr another 6 months - 1 year.


    Agree with you. As mentioned in my earlier post getting at least one to two calls everyday from brokers offering similar prices.
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  • I dont know ..how much its true ..i am tracking resale price on 99acre ..still there are options available at 3200 bsp...
    called universal today ..still same reply ..bank approvals will come very soon ..
    do anyone know why banks not disbursing the loans ..for this project ..what kind of approvals left ..i asked same Q to CRM person but he was not having proper answer..does anyone know anyone in SBI and LICHF ..who can tell us where its stuck..if project is clear on legal grounds and SBI is ready to disburse loans ..then ..no harm in keeping the bookings ..otherwise our hard earn money gone :(
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  • Approvals

    I had a very close relations and got to know that as per my last info - still final approvals are not in place .. They got the demand letter from DCTP on March 3 for submit/clear the dues on EDC and IDC end and post this, final Buildling plan will be issued from DCTP.

    I don;t think as of now they managed to submit the final EDC/IDC due - something around 6 Cr. As of now this project is principally approved from LIC/HDFC and SBI. but no bank is disbursing till Universal submit the final Build plan which are yet to be procured from DCTP, Chandigarh.

    Lets hope they get the soon .. Optimistic estimate is by May end the construction will starts..
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  • Payment reminder and allotment cancellation!

    Received today letter from the builder regarding the due payment final reminder and non payment will lead cancellation of the flat!

    I am astonished to see the letter, I guess any of the fellow members hav received it or not.

    Will the senior members can guide thru the issue and what remedy can be taken agains the letter / builder.
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  • Had words with Universal people who updated that SBI has given approval and they are giving loans..so next payment will come in mid of june...cheers..!!
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