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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  • No Dinesh! This is not 100% correct. All projects got pre-launched without any approvals and approvals came as the project progress ( this is as usuals). Also regarding the area this is tends to change +/-10% and getting calculated again at the time of possession. So again nothing ununsal. You are going to paid only for the final area with adjustments. Only worry is that if this is getting changed by more than +-10% then this is not legal and can be counter with showing BBA as well. I believe this is mentioned thr.

    thx
    rkb

    Originally Posted by dineshjangid
    Thanks a lot RKB.
    Btw, Universal's CRM have reverted to my mail yesterday that they will get back to me in next 7 working days. So, they too have lapsed in their commitments, launched the project without all govt. approvals, so actually they should be liable to pay penalty to investor. Also, the flat carpet area, they had shown at the time of booking & the one they showed in BBA was also changed. Room size , Balcony, Drawing hall etc. were reduced in size, keeping super builtup area as same i.e. 1587 Sq. feet. How can they show more at time of booking & reduce it later on. I've hard copy of both of these drawings. So, we also have strong case against Universal. Let see what they decide now.
    Thanks ~ Dinesh
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  • Hi RKB,
    I differ you in this. Before UA, me & my friend have paid cheque of booking amount to one agent for Bestech Project in Sector 81 , at rate of 2800/-psqft. . But , that cheque was never chased, as Bestech didn't accept that because they have not got the approval, so didn't launched the project at all. After that UA got launched & I paid that Cheque to one agent for this project & Universal got it encashed within a week. Bestech launched their project by name of "Ananda" much after this project, my friend invested in Bestech & now their super structure is almost ready. Anyway, Bestech have Higher standards (as well as Rates ), so I don't want to compare Universal with Bestech, but just want to convey message that what Universal did is not a Usual & standard practice. Universal, being a new player in Residential projects, have to be bit flexible for their old customers, who paid them booking cheques, when even their land was not clearly marked, keep paying them 2-3 more installments from their own pocket ( Banks were not ready to disburse loans at that time ) , and kept faith in them through their rough time. Good Relationship with customer is always a key factor for any business & if they will speak only about money then they have to explain each & every thing. How they can bluntly ask to pay any X amount as Interest for late payment, without explaining for which amount which period.
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  • Dinesh ~ I know from where you are coming from.. Let me correct some facts. For Bestech project in 2010.. It was just the rumors made by Agents .. and they only accepting the cheques for 4-5 Lakh and saying for booking of 2800 to 3000. Bestech officials never confimed - When they are prelaunching or launching the project. I know Bestech is far better then UA but for the same u need to pay extra. They finally launched the project in 2011 with the rate of 3800 to 4000. These were just marketing strategy .. Let the news flow in market and get the rate increased. Same happened for 3C project in sec 89 in 2012. Most of the builders (pls note - not all) do their project pre-launched first and then launch after 8-10 months officially and by that time they take 20-30% of money from buyers.

    Regarding the CRM for UA. i know dealing with them is tough but UA never said you that we will not provide the reason why we asked u for the intrest - right? As per you they will reply your queries in a week or so. So please be patient - You have invested in a very good project and have a little trust or else if still u feel that u r getting cheated or humliated .. they u can exit from this project as I m sure u can get the good rate in resale but this is not my recommendation as u were being attached to this project from starting.

    I hope this helps..
    thx
    rkb

    Originally Posted by dineshjangid
    Hi RKB,
    I differ you in this. Before UA, me & my friend have paid cheque of booking amount to one agent for Bestech Project in Sector 81 , at rate of 2800/-psqft. . But , that cheque was never chased, as Bestech didn't accept that because they have not got the approval, so didn't launched the project at all. After that UA got launched & I paid that Cheque to one agent for this project & Universal got it encashed within a week. Bestech launched their project by name of "Ananda" much after this project, my friend invested in Bestech & now their super structure is almost ready. Anyway, Bestech have Higher standards (as well as Rates ), so I don't want to compare Universal with Bestech, but just want to convey message that what Universal did is not a Usual & standard practice. Universal, being a new player in Residential projects, have to be bit flexible for their old customers, who paid them booking cheques, when even their land was not clearly marked, keep paying them 2-3 more installments from their own pocket ( Banks were not ready to disburse loans at that time ) , and kept faith in them through their rough time. Good Relationship with customer is always a key factor for any business & if they will speak only about money then they have to explain each & every thing. How they can bluntly ask to pay any X amount as Interest for late payment, without explaining for which amount which period.
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  • Originally Posted by biyaniraj
    Dinesh ~ I know from where you are coming from.. Let me correct some facts. For Bestech project in 2010.. It was just the rumors made by Agents .. and they only accepting the cheques for 4-5 Lakh and saying for booking of 2800 to 3000. Bestech officials never confimed - When they are prelaunching or launching the project. I know Bestech is far better then UA but for the same u need to pay extra. They finally launched the project in 2011 with the rate of 3800 to 4000. These were just marketing strategy .. Let the news flow in market and get the rate increased. Same happened for 3C project in sec 89 in 2012. Most of the builders (pls note - not all) do their project pre-launched first and then launch after 8-10 months officially and by that time they take 20-30% of money from buyers.

    Regarding the CRM for UA. i know dealing with them is tough but UA never said you that we will not provide the reason why we asked u for the intrest - right? As per you they will reply your queries in a week or so. So please be patient - You have invested in a very good project and have a little trust or else if still u feel that u r getting cheated or humliated .. they u can exit from this project as I m sure u can get the good rate in resale but this is not my recommendation as u were being attached to this project from starting.

    I hope this helps..
    thx
    rkb

    Thanks RKB for your suggestion !
    I've invested in this project as a end user, else I could have booked profit of 200-300 psqfeet in next 3-4 months itself. Further, I do believe in Universal & not panic at all. I'd taken care all these factors ( delay in construction etc ) in mind while investing in this project. Just disappointed with the ambiguity & delay in their CRM response. Anyway, in my case, ball is in UA side now & they have to get back to me , I'm in no hurry at all.
    Thanks ~ Dinesh
    Anyway,
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  • letter for pending dues

    I got 2-3 days back a letter from universal stating " notice for pending dues" of figure around 1, 50,000/- , then i called them , what this amount for ,as i paid all my installment on time. They say its some late payment interest. Only my 3rd installmet which was my first installment paid by bank loan , delayed because of delay in approvals required for bank. I have asked for break up of this amount as its too much, as per communication with universal , we need to pay just the interest rate of bank loan for that period, but i think they have put 24 % rate. Did anyone else also got same kind of notice, this amount is really very large
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  • Originally Posted by Amit9981
    I got 2-3 days back a letter from universal stating " notice for pending dues" of figure around 1, 50,000/- , then i called them , what this amount for ,as i paid all my installment on time. They say its some late payment interest. Only my 3rd installmet which was my first installment paid by bank loan , delayed because of delay in approvals required for bank. I have asked for break up of this amount as its too much, as per communication with universal , we need to pay just the interest rate of bank loan for that period, but i think they have put 24 % rate. Did anyone else also got same kind of notice, this amount is really very large

    Yes I did..around 20,000 for a 2 week delay...can not figure out the calculation.
    Same case..Delay due to bank loan approval and some delays from there end too.

    In case someone can through some light on the basis of this calculation, then would be great.
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  • Originally Posted by Gurgaon007
    Yes I did..around 20,000 for a 2 week delay...can not figure out the calculation.
    Same case..Delay due to bank loan approval and some delays from there end too.

    In case someone can through some light on the basis of this calculation, then would be great.

    Their CRM told me that they are calculating Compounded Interest 24% PA. + 2000 /- Rs. for every cheque bounce ( as per BBA signed ). Now, I objected to it, as for my case all issues ( 1st cheque bounce happened on booking amount at soft launch-Oct.2010, when Universal's Channel Partner presented my cheque without intimating me, despite of his commitment that he'll call & confirm me before presenting the cheque , 2nd cheque bounce issue due to old account no in Cheque book, so partial 3rd payment delayed by 17 days ) happen before signing of BBA & when no bank was ready to disburse any Loan on this project, because of Approval issues pending at Universal end. So, I've been sent notice for amount 12,569/- as delay payment interest. Amount is not big.. but why should I pay even a single Rs. extra to them. So, I objected to it, met with their CRM at their Universal Tower last week ( Mr. Puri's were not there, as I've been told by that CRM )... She told me that BBA cover entire payment schedule,, i.e. amount paid during soft launch as well ( What a logic ?? ).
    Then, she bluntly told me that I also have earned on this investment, as now market rates are @4500/- & I got it booked at 3007/-
    ( what a way to convince the customer ).
    After heated argument, she assured me that she will discuss all this with Puri's & get back to me.

    But after that simple & plain mail, that we met & I explained, so you've to pay it.

    Then I reverted back to the mail, keeping their directors ( Puri's ) in Mail loop & asked them to intervene.
    So, now I'm waiting for their response.
    Overall, this is bad in taste, as they should have intimated customers to clear all the issues at that time only... and now after 2 years they are coming up with compounded interest ... Arm twisting tactics only.
    Most of the Builders uses such tactics.. but from Universal , I don't expect this. Being a new player in Residential Projects... they should not treat their customers in this way, who keep paying them through their black & blues ( 2 year period for getting approval & Bank loan disbursement is too long ). After all, relationship building with existing customers is also a critical factor for every business , as satisfied customers does mouth advertising which helps every business to grow.. while dis-satisfied customers brings bad name to any business & even big business empires get vanished away.
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  • Looks like they are not in long term business.


    Regards

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  • Originally Posted by Amit9981
    I got 2-3 days back a letter from universal stating " notice for pending dues" of figure around 1, 50,000/- , then i called them , what this amount for ,as i paid all my installment on time. They say its some late payment interest. Only my 3rd installmet which was my first installment paid by bank loan , delayed because of delay in approvals required for bank. I have asked for break up of this amount as its too much, as per communication with universal , we need to pay just the interest rate of bank loan for that period, but i think they have put 24 % rate. Did anyone else also got same kind of notice, this amount is really very large


    Amit... me too, written to them still no replies, they are expert in harassing customers. All the other projects have done fare better in terms of return than this.
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  • I have visted universal aura site
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  • Originally Posted by ansh007
    I have visted universal aura site


    What u saw..construction is goin on or

    Sent from my Galaxy S4
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  • kuch khas nhi thi .. kaam slow hai .. demand yeh gaalt raise karte h construction kuch b nhi hui or 60%+ bsp and other 100% edc/idc and plc le chuke.. kaam aada b nhi hua h 20 floir ki buikding h toh payment k hisab se 10floor tak bn jana chiye.. and maine kuch pics b click ki hai .. H tower 4 floor hone wala h at present and F tower ka 7 floor ho hua h .. A tower ka 4 floor he hua h abhi .. kuch tower ka thoda bhot brick work start kr rhe h .. and quality nhi h .. I m having pics of all the towers...
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  • Tower J at present..

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  • Tower F at aug 2013

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  • TOWER H AUGUST

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