I have started this thread to discuss whether the PACL episode will effect pearl infrastructure projects ltd as well which is developing townships in various cities including greater mohali and nirmal chhaya project in Zirakpur. Discussion from investors are welcome.
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  • Nirmal Chhaya Zirakpur

    Hi

    In my view it should not be. As far as Nirmal chhaya is concern some can tell me what is the exact situation there. One of my known has flat in same and he lives abroad.
    Is Invertors still interested in Nirmal Chhaya? Is it wise to keep this property?

    Happy
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  • Originally Posted by happy33
    Hi

    In my view it should not be. As far as Nirmal chhaya is concern some can tell me what is the exact situation there. One of my known has flat in same and he lives abroad.
    Is Invertors still interested in Nirmal Chhaya? Is it wise to keep this property?

    Happy


    I don't think there is any issue with Nirmal Chhaya. The project is already complete (almost) and possessions already offered to many. More and more families are moving in the apartments. Nirmal chhaya prices have increased sharply in last 6 months and I think it will continue to increase for next 6 months to 1 year and might stagnate after that. It should be worth holding.

    When the new projects are launching at the price at which Nirmal chhaya is available for possession, it makes much more sense for end users to buy ready to move in Nirmal chhaya than any other new launched project.
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  • Hi chdguy

    Thanks for update and advice. I will oblidge if you could address one more query.

    Nirmal Chhaya Guys says the registries of flats are possible only when the project is completed and it will further take 3-4 months
    is it a correct statement?

    Happy
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  • Originally Posted by pawang42
    I have started this thread to discuss whether the PACL episode will effect pearl infrastructure projects ltd as well which is developing townships in various cities including greater mohali and nirmal chhaya project in Zirakpur. Discussion from investors are welcome.

    Pearl episode will certainly dent the credibility of the company.:bab (59):
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  • thats right...

    well people thats right...in real estate the reputation works a lot...just wait for some more time..and lets see...what else come out....rest people staying at nirmal chaya...they wont be facing any problem....but yes there is one question which will be there...and that is...how this company will maintain its apartments and township....that we have to see in the future....because it is easy to make and sell...but difficult to maintain...


    Regards
    Begood
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  • Hi
    As far as maintainence of Flats(Nirmal Chhaya) are concern end of the day It has to be done by residents. If PACL take charge that will be nice (that too they will do for ist few years if I m not wrong against the maintaince charges)

    The main concern is the repo of company. I hope and belive they will able to maintain this
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  • without company s support its not possible dear

    without company s support its not possible dear....in the first few years...the company has to take care of maintenance....and that is all which is required...
    so just hope for the best....
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  • Hi
    I understand what u r saying But I dont think so company role is very vital here because as I said end of the day the residents has to take charge as its happening in almost all societies of panchkula, chandigarh or any other place

    But u r right in saying if PACL do it will be better on same side if they dont do then guys who has invested there has to take charge this is wat I wana say.

    cheers!!!!
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  • Well for Nirmal Chhaya, the residents taking over the maintenance may not happen in a few years. The reason is that it is a big size project as compared to other projects. It is 18 acres and around 800 apartments I think. It is not easy to maintain by a residents association.
    In PKL or Chandigarh I don't think that there are such big projects currently. In Panchkula socities, most of the projects are a couple or acres or so. Biggest is AWHO I think. So while it may be possible to maintain small projects by residents association, but bigger projects maintenance is difficult.
    Pearl has a subsidiary who will be maintaining Nirmal chhaya project. I think they will provide good maintenance as it will be a dedicated agency.
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  • hi
    could ne one can tell me wat is the tentative cost of 3 bhk flat on 4th floor on wards
    I would like to go 4 top floor
    pls help me I would like 2 buy in next 10-15 days
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  • Are PACL and Pearls builder having project in Delhi and Noida from the same group?
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  • PACL case: Sebi collects large number of property documents

    The market watchdog has tightened the noose on PACL for refunding the money collected through illegal money pooling activity.
    PTI | Jun 25, 2016, 01.00 PM IST


    NEW DELHI: Making a "headway" for refund of money to investors in over Rs 50,000 crore PACL case, Sebi today said a large number of property documents have been collected and the process is on for auction of those assets.

    The market watchdog has tightened the noose on PACL for refunding the money collected through illegal money pooling activity, which is seen as one of the biggest ponzi schemes in the country.

    A committee, constituted by the Securities and Exchange Board of India (Sebi) under the chairmanship of former chief justice of India R M Lodha, has made "headway having collected a large number of property documents and engaged an agency for their safe custody, data creation and maintenance and has also engaged two agencies to conduct auction sale of properties."

    The first of the sale notice was published on May 29.

    The regulator had set up a high-level committee to ensure refunds in the PACL case are made to genuine investors following a Supreme Court order.

    The committee also solicited "cooperation from customers /investors of PACL Ltd and requests them not to be guided by any reports/rumours not published by the committee and to submit documents only upon being specifically invited to do so by the committee".

    PACL, a Pearl Group company that had raised money from public in the name of agriculture and real estate businesses, was found by Sebi to have collected thousands of crores through illegal collective investment schemes over a period of 18 years.

    It was found to have raised Rs 49,100 crore from nearly 5 crore investors that it needs to refund along with promised returns, interest payout and other charges, which took the total amount due to over Rs 55,000 crore, as per a Sebi order.






    PACL case: Sebi collects large number of property documents | ET RealEstate
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  • SC restrains PACL from selling its properties

    PACL Ltd and its promoters and directors, including Nirmal Singh Bhangoo, have been embroiled in a legal battle for their alleged failure to refund Rs 49,100 crore to investors.
    PTI | Jul 26, 2016, 08.06 AM IST


    NEW DELHI: The Supreme Court on Monday restrained Pearls Agrotech Corporation Ltd (PACL) and its promoters from disposing of its properties both in India and abroad after SEBI alleged that the company has siphoned off 98 million dollars in Australia.

    PACL Ltd and its promoters and directors, including Nirmal Singh Bhangoo, have been embroiled in a legal battle for their alleged failure to refund Rs 49,100 crore to investors, an amount collected through chit funds schemes.

    A bench comprising Justices A R Dave and L Nageshwara Rao also issued notice to Centre and sought its response on a plea of investors seeking the court's intervention against alleged siphoning off of funds by the PACL group.

    A plea filed by investors group, Janlok Prathishtan Sanghata Committee has also sought the government's help in bringing overseas assets of the group under control, liquidate these and get refund of money to its 5.85 crore investors across the country.

    Advocate Pratap Venugopal, appearing for Security and Exchange Board of India (SEBI), sought a direction from the court to the Centre for restraining PACL from selling its overseas assets.

    "Investors have moved an Australian court and sought injunction against assets sold by PACL for 98 million dollar," Venugopal said.

    The group, comprising 45,000 investors, had alleged that the group has assets worth Rs 4,500 crore in Australia.

    It has said that the group's assets include Sheraton Mirage Resort (Sheraton) on the Gold Coast through a company called Pearls Australasia Mirage 1 Pty Ltd incorporated in October 2009, Pearls Infrastructure Projects Ltd and several other properties.

    The apex court had earlier asked PACL to approach the expert panel appointed by it to monitor the sale of assets and refund of money to the investors, for any relief for release of funds.

    It had on February 2 appointed the expert committee to monitor the sale of the assets of the company and refund of money to the investors of PACL.







    SC restrains PACL from selling its properties | ET RealEstate
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  • Sebi asks public at large to keep away from PACL properties
    PACL, which had raised money from the public in the name of agriculture and real estate businesses, was found by Sebi to have collected these funds.
    PTI | Jul 30, 2016, 08.02 AM IST

    NEW DELHI: Market regulator Sebi on Friday asked the public at large not to deal with any property where PACL and its promoters have interests, following a Supreme Court order.

    PACL, which had raised money from the public in the name of agriculture and real estate businesses, was found by Sebi to have collected these funds through illegal collective investment schemes over a period of 18 years. The watchdog is looking to recover around Rs 60,000 crore for repayment to investors in the case.

    In a release today, Sebi said that public at large are advised "not to deal with any of the properties wherein PACL Ltd and/or its directors/promoters/agents/employees/group and/or associate companies directly or indirectly have any interest".

    On July 25, the Supreme Court restrained PACL, its "directors/promoters/agents/employees/group and/or associate companies are restrained from in any manner selling/ transferring/alienating any of the properties" wherein the company has an interest, either in within or outside India.







    Sebi asks public at large to keep away from PACL properties | ET RealEstate
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