Concern about this Project....

Q: The below are my concern about this project, can anybody clarify this...
1. Are they got approval's, In some forum it is mentioned that still they are trying..
2. Anybody checked that how far from the railway track. (In Google map it is ~ 200 Mts)
3. Anybody visited this road ~ 8.00 PM from outer ring road. Just i checked & concern about the safety...
4. The project was launched ~ July-2008 & they completed just 2 Floors (Basement + Grnd.) in ~ 3+ Years. So do you think they can finish this project on Time (Dec-2013)- remaining 11 floors in 2+ years....
5. Do you think that booking an apartment, waiting for 5 years is good investment / decision...
6. In July the launching price is ~ 2,700 /Sq.ft., now the builder is offering ~ 3,300 / sq fr. Do you think this property is worth for this? I checked some other properties also in that locality & feel this is quite high...