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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  • But i was told by the universal tat they will inform the customers for Bank Loan approval as & when they receive it!

    Are there not anybody who has delayed the third payment which was payable by Jul - 11 (as far as i remember).....

    Did anybody else not received the letter for the due payment!
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  • Originally Posted by pschow
    But i was told by the universal tat they will inform the customers for Bank Loan approval as & when they receive it!

    Are there not anybody who has delayed the third payment which was payable by Jul - 11 (as far as i remember).....

    Did anybody else not received the letter for the due payment!


    The fact is that this project is dealyed but still they are managing hard to get the necessary approvals (only final building plan is pending, which was submitted 3 times and minor corrections are required) and by June (for sure) the construction will start.
    Now ppl who have invested in this have 3 options ..

    1) Those who don;t wanted to go for any loan and due with 2nd installement (30%), then they are supposed to pay the installment amount immediately without any delay for not facing any unforseen issues at later stage.
    2) Those who are sure to go with loan, they can show the santion letter or pre approval loan for 80% of amount (Basic Price) and pay only the intrest amout starting from Aug 2011 to till date and up till the next demand comes or bank stared disburse the same. Only intrest amout for 2nd installment is supposed to pay that's it. As of now no new demands comes to ppl who have already submitted the santion letter or pre-approval letter from leading banks.
    3) Those who are still shaky or got stuck and getting frustrated, You can sell easily at 3400-3500 right now. Still my personal suggestion is that - by taking this step you will be happy or fair at short term but you will reliaze, what you have missed by end of 2012 only. Still this call depends person to person and risk taking capability.

    Thanks
    rkb
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  • So hav submitted the Loan approval letter online and mailed the same to builder, still no reply 2 days gone......
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  • Originally Posted by pschow
    So hav submitted the Loan approval letter online and mailed the same to builder, still no reply 2 days gone......

    Hi
    Greetings

    May I know what are the Floor, Green, Road facing PLC charges for this project??

    Cheers
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  • They are saying that we can apply for the loan with SBI. Next installation will come in 2 months. As per them, sbi has approved the project and they will start dispersing loans in 15-20 days.
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  • I need one so plz share availabilities

    Originally Posted by SanjSain
    Hi All,

    Anyone wanted to sale/purchase 2bhk unit, let me know. We have the availabilities.

    Thanks!
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  • Originally Posted by naveen602
    U call talk to universal people 9971766244. They are saying that we can apply for the loan with SBI. Next installation will come in 2 months. As per them, sbi has approved the project and they will start dispersing loans in 15-20 days.


    Yes - That's correct partially - Basically project is principally approved from HDFC/ LIC and SBI - It means they can sancation the project but disbursment will still take some time .. something around 2-3 months (End of june) - See the Final buildling plan yet to come from DCTP, post to that it will be submitted to banks and then liasioning will be thr.. Each process will take subtaintial amount of time and above estimates are based on the news that Universal will get the final buildling plan by end of this month or first week of May only.

    Pls don;t go with the words told by CRM (Shristi or Astha) and they are front tellers only and they have the update of next 15 days only i.e what basically they told to say by mgmt - same is getting conveyed to customers.
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  • I called up Universal few days ago and they told me that SBI is now providing home loans for Universal Aura. I am not sure if anyone has got the loan on this property from SBI. I have already got loan sanctioned from Axis Bank but since the project is not approved by the bank yet, they are not ready to disburse. So, I was wondering whether to apply to SBI now for home loan or hold on for approvals.
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  • Universal aura, is it safe?

    Hi All,

    I have been keeping an eye on this forum for some time now. I am very impressed with the vigour some of you have shown with regard to forming a group that can represent all of us investors.
    I paid the deposit on two flats but became very worried at the lack of construction at the site.
    My friends (we will, hopefully (and theoretically), one day be neighbours!), is it a safe investment?
    Should I continue paying into the Universal Aura project?

    Whenever anyone is ready to reply, my thanks in advance!
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  • What is the present resale pricing in Aura ????

    .............if somebody could detail the resale prices of different sizes of apartments here & corresponding original & current Booking prices .
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  • I am also interested in same.. heard its around 33-3400 for 2bhk
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  • i would be interested in selling my 2bhk if resale proce is between 3400-3500 psf
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  • Originally Posted by TrinitySQ
    Hi All,

    I have been keeping an eye on this forum for some time now. I am very impressed with the vigour some of you have shown with regard to forming a group that can represent all of us investors.
    I paid the deposit on two flats but became very worried at the lack of construction at the site.
    My friends (we will, hopefully (and theoretically), one day be neighbours!), is it a safe investment?
    Should I continue paying into the Universal Aura project?

    Whenever anyone is ready to reply, my thanks in advance!



    Okay ... so two points and answer to your questions.
    1) Yes, now this is definitely a safe investement and you should go for long, Again its yr personal call what decision you wanted to take ... Detailed anaylsis I already posted in my previous reply.
    2) Going good progress as of now on pending documentation end.. such as .. Pending EDC/IDC as demanded by DCTP to Universal were deposited, Final building plan approved from DCTP end, although yet to recd by builder, post to that going to submitted to banks and disbursment will starts. Most probably construction will start on site by end of June..


    Reply to guys/gals wanted to sell thr 2BHK units ...

    ok .. call on 9811458673 - Mr. Rathore (Vishal batra investments) as he is dealing with most resales.. Price will be 3400 for floor 1-12 and 3350 for 12 to 15th floor and 3300 for 15+ floors. He will be ready for buy on these rates .. but again this is yr choice to go on that path ... i am not recommending to go for short term gains .. as once this project is approved from any bank, price will shoot up to 4000 easily as no project in that sector is trading less then 4K now.
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  • Thanks for the reassuring reply Biyaniraj!.

    Just curious ..say the aura project commences construction in June. I don’t think it unreasonable to suppose that the completion will take 18 months or more.
    I know we signed contracts that have penalty clauses for late payment - I just wish that these penalties could convert to ‘payments for property purchase’ once the late payer resumes timely payments.
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  • Hi,

    Any update on loan disbursement from SBI on this project? All owners should form a yahoo group to update any progress. Please let me know if there exist one already. If loan disbursement do not start, then it shall be a serious issue.

    Thanks

    Originally Posted by TrinitySQ
    Thanks for the reassuring reply Biyaniraj!.

    Just curious ..say the aura project commences construction in June. I don’t think it unreasonable to suppose that the completion will take 18 months or more.
    I know we signed contracts that have penalty clauses for late payment - I just wish that these penalties could convert to ‘payments for property purchase’ once the late payer resumes timely payments.
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