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ASPIRE LEISURE VALLEYPremium Residential Living in Greater Noida (West), Uttar Pradesh An Aspirational Address, An Iconic Destination About NBCCThe Aspire Leisure Valley project, developed under Supreme Court-monitored arrangements involving NBCC (India) Ltd. and the Court Receiver, offers a construction- linked payment plan with a 10% booking amount. However, the application includes significant cancellation penalties, potential increases in construction and development costs, additional charges such as GST, stamp duty, maintenance and lease rent, and strict possession-related deadlines. The property is offered on a leasehold basis for the remaining 99-year lease period. It is advisable to verify the unit’s legal status, approvals, total cost, possession timeline and refund conditions with a qualified property lawyer before making any payment. |
Key Points to Know Before Booking
| Particulars | Terms Mentioned in the Form |
|---|---|
| Project | Aspire Leisure Valley, Greater Noida (West) |
| Project Execution | NBCC (India) Ltd., under Supreme Court-monitored arrangements |
| Booking Amount | 10% of total sale price |
| Payment Plan | Construction-linked, with instalments at specified stages |
| GST | Additional, if applicable |
| Extra Car Parking | ₹5,00,000 plus GST |
| Extra Power Backup | ₹35,000 per KVA plus GST |
| IFMS | ₹25 per sq. ft., payable at possession |
| Lease Period | Remaining period of 99 years from the original lease deed |
| Allotment | First-come, first-served, subject to the prescribed process |
Important Risks to Review
1. Cancellation and Refund
Withdrawal after allotment may result in forfeiture of 25% of the booking amount within 30 days, and the entire booking amount after 30 days.
2. Possibility of Additional Costs
The form permits changes to the final price due to increases in construction and development costs. Additional land-related costs may also become payable.
3. Possession Deadlines
The form specifies timelines for executing the lease deed and taking possession, with possible cancellation and forfeiture for non-compliance.
4. Other Charges
Stamp duty, registration and documentation costs, lease rent, maintenance, utility deposits and applicable taxes may be payable separately.
5. Title and Allotment
The form describes the Supreme Court-monitored arrangement, but you should independently verify the specific unit's allotment status, approved plans and applicable legal documents.
These are terms stated in the application form, not an independent verification of the project's current legal or construction status.
Before Paying the Booking Amount
Obtain written confirmation of the
total final price, unit availability,
construction status, possession timeline,
refund conditions and all additional charges.
Have a qualified property lawyer review
the documents, especially the
cancellation and price-escalation clauses.
Disclaimer:
ICAI, through Beneficiary Schemes Directorate, acts solely as a facilitator for these initiatives. All services are delivered directly by respective providers. It does not endorse or guarantee the quality, reliability, or accuracy of these offerings. Members are advised to exercise independent judgment and due diligence before availing any product or service. ICAI shall not be liable for any loss or damage arising from their use.