Dear friends,

Hiranandani Panvel will be launching by next week at the rate of Rs 3600 psf on builtup area.

I was reading through the new housing bill legislature passed by and was signed by Hon. VILASRAO DESHMUKH (Chief Minister) dated 23 July 2007, that builder have to sell the property on carpet area rate and not on builtup or super built up.

For those who are intrested in buying an apartment/villas/penthouse in Hiranandani panvel project please insist the builder to book on carpet area.

Here are the official link for Housing bill legislature:
http://www.maharashtra.gov.in/pdf/HPeng.pdf

Also see the very intresting article in Indian express about the (the Maharashtra Ownership of Flats Act, 1963,)
http://www.indianexpress.com/news/ol...ilt-up/366208/

This mail is just to educate investors and the individual buyers about the new option.

Regards

This mail is just to educate investors and the individual buyers about the new option.

Regards
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  • Any way that those having bookings in phase I can connect

    Looks like that we need to decide a joint strategy after getting clarity on this issue from HIRCO and the banks involved. Any suggestions how we can connect?
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  • Originally Posted by savvy_v



    MALKOTIA

    Very sad to know the condition of HIrco & HIRA , when two cocks are fighting ,and People like us are getting churned.

    Having known that Hiranandani is the most reputed builder in the country and we do appreciate your contributions to the industry so far for
    delivering excellent townships.
    With this Impeccable reputation in mind we invested in your HPG project as we wanted hassle free transactions and peace of mind.
    A professional approach, transparency in all dealings and timely possession were almost assumed when we booked apartments in HPG Panvel.

    However the recent dealings with your company and recent reports in media are very much in contrast to above assumptions and the

    investors are generally concerned about the future of this project and fear losing their hard earned money.
    Therefore as an Investor & end User community of HPG Panvel




    WHAT WE CAN DO:


    1. WE CAN HIRE a LEGAL ADVISORY, for which we all can contribute money for this, and give them legal NOTICE.

    2. Put all our concerns major concerns raised by us as an investors, & let them able to respond to the point on each one of these queries.

    3. We shud meet with them in GROUP.
    Following points can be covered; FOR PHASE_1 & PHASE-2

    a) Is work in the project continuing as per plan..?

    b) If no, what are you doing to resolve the issues.?
    c) When is the work expected to commence again.?
    d) How much delay is anticipated in the light of above.?
    e) What is the model for comensating the buyers for the delay in handover .?
    f) When are you planning to upload the latest video of the construction progress on your website.

    g) Since there is delay in handing over , the clause of delay compensation also can be put from our side.
    2. Start of phase-2 seems to be a moving target and the approach adopted by HIRCO so far has been very casual and different RMs have provided different dates for the same.
    At the time of booking it was told that the work will commence by end of Dec-12 however now it is being told that it will not start untill end of Dec-13.
    The phase-2 buyers are in dark and their money is stuck up in the project. Can you clarify the situation on phase-2 and provide a firm dates for the same

    WITH NOTICE FROM LEGAL LAWYER;THEY HAVE TO RESPOND TO OUR NOTICE,in stipulated 15 days time.


    We should be Interested in resolving the issues amicably for mutual benefits of buyers and Hiranandani.
    However if the casual approach of apathy continues, we will have no choice but to form a public group
    in social media to let all potential buyers know about the problems that we are facing.
    The NRI group also can arrange a meeting with them, will also spread the word in their circle about the same.


    Suggestions welcomed.

    Savvy_v;)


    We already have created page on facebook and manage to connect will couple of people...we need support from every one in connecting on this via social media.

    https://www.facebook.com/pages/HIRCO-Palace-Garden-Panvel-Scam/212905732223974

    and also planning a visit to HIRCO office
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  • and also planning a visit to HIRCO office

    DEEGUPTA

    TAKE AS MANY PEOPLE AS WITH YOU.
    EVEN WE CAN WRITE LETTER TO TIMES NOW ARNAB GOSWAMI...... a e-mail.
    Any suggestions...

    savvy_v;)

    DEEGUPTA

    TAKE AS MANY PEOPLE AS WITH YOU.
    EVEN WE CAN WRITE LETTER TO TIMES NOW ARNAB GOSWAMI...... a e-mail.
    Any suggestions...

    savvy_v;)
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  • Don't think talking can do much at this point. The legal process, banks and liquidation will take their course and own sweet time. HIRCO won't have any control over these if they are themselves being liquidated and auctioned off.
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  • As builder defaults the loan so project is auctioned off and bank recovers whatever money they can .

    But what about the buyers ? How will they recover their hard earned money.
    Is there no law for the common people who are duped.

    Is it not better if they sell the project to some other builder who can complete the project ?

    Both in mumbai and chennai so many people are stuck bcz of this project.
    Wish u all best of luck in ur fight and speedy recovery of ur money.
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  • Savvvy still confident on this project mate like how you were one year back ??
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  • Savvy ..do you have some insider information on what is going on at the moment.. you seemed to be very well connected..
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  • The work was stopped way back in Nov'12 but no one was ready to believe that.

    Anyways those who have done stamp duty and registration need not worry but those who have invested in pre launch please get in touch with the builder and bank ASAP to get clarity.
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  • Thanks Realbuyer ...Nobody is picking phone in HIRCO office. I am not sure if HDFC will talk on anything which is in Pre-launch stage as they would not have not approved that building..? Any suggestions?
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  • Hi Realbuyer,

    Do you know if i can still register and pay stamp duty? I am in phase 1.

    Thanks.
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  • Originally Posted by ashuny
    Hi Realbuyer,

    Do you know if i can still register and pay stamp duty? I am in phase 1.

    Thanks.


    Hi,

    You can certainly register your apartment provided your building has approvals in place....can you tell me the current status of your building?
    Basis this I will be able to tell you if you an go ahead and register as there were some buildings which were launched in phase 1 but approvals are not in place for them and that is the reason why there is no plinth in place for these buildings....

    Malkotia,
    There are two options for you:
    1. Either you wait for Hiranandani to take over these projects as stated by Mr. Mistry CEO HDFC in todays earnings call of HDFC
    2. Or get some legal help if there is no response from HIRCO
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  • Originally Posted by malkotia
    Savvy ..do you have some insider information on what is going on at the moment.. you seemed to be very well connected..



    MALKOTIA
    Plz viw my post; #1536

    My PREDICTION: "Subject to prove otherwise"

    1] PROBABLY I PRESUME FIGHT BETWEEN TWO COCKS WILL END WHEN PROJECT WILL BE AUCTIONED.{{IN PROCESS FO 2-3 mths time}.
    2] I AM STILL OPTIMISTIC that HIRA will take his own time to get his cards placed right in such a way that he will pull through auction.
    His project in Thane is in full swing,and also wil not affect for him to get rid off HIRCO, which he is planning for many months.
    3] Probably He will Tie up with more positive ,more orchestrated manner with BIG RE GIANTS LIKE< LODHA, or anything{We don't and never know}.
    4] Possibly he wont leave THE PROJECT as elections re on way, and high chances of getting NMIA through with support of congress....

    Anyway these are my predictions, may be time only will truly guide us,as we all are in same BOAT.

    Regards,and lets HOPE for best.
    savvy_v;)
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  • Originally Posted by savvy_v
    MALKOTIA
    Plz viw my post; #1536

    My PREDICTION: "Subject to prove otherwise"

    1] PROBABLY I PRESUME FIGHT BETWEEN TWO COCKS WILL END WHEN PROJECT WILL BE AUCTIONED.{{IN PROCESS FO 2-3 mths time}.
    2] I AM STILL OPTIMISTIC that HIRA will take his own time to get his cards placed right in such a way that he will pull through auction.
    His project in Thane is in full swing,and also wil not affect for him to get rid off HIRCO, which he is planning for many months.
    3] Probably He will Tie up with more positive ,more orchestrated manner with BIG RE GIANTS LIKE< LODHA, or anything{We don't and never know}.
    4] Possibly he wont leave THE PROJECT as elections re on way, and high chances of getting NMIA through with support of congress....

    Anyway these are my predictions, may be time only will truly guide us,as we all are in same BOAT.

    Regards,and lets HOPE for best.
    savvy_v;)


    Well Savvy I don't think company like Lodha will buy this mess made by HIRA...and it is in the best interest of investors that HIRA takes over this project. In case some other developer takes over then it will be dooms day for Phase 2 investors....who have paid money without registration.......this whole thing is cooked up by HIRA and he will do everything to buy it through HDFC auction.....ultimately feel bad for HIRCO investors...
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  • Clio and Hermes

    Originally Posted by realebuyer
    Hi,

    You can certainly register your apartment provided your building has approvals in place....can you tell me the current status of your building?
    Basis this I will be able to tell you if you an go ahead and register as there were some buildings which were launched in phase 1 but approvals are not in place for them and that is the reason why there is no plinth in place for these buildings....

    Malkotia,
    There are two options for you:
    1. Either you wait for Hiranandani to take over these projects as stated by Mr. Mistry CEO HDFC in todays earnings call of HDFC
    2. Or get some legal help if there is no response from HIRCO
    CommentQuote
  • Originally Posted by savvy_v
    MALKOTIA
    Plz viw my post; #1536

    My PREDICTION: "Subject to prove otherwise"

    1] PROBABLY I PRESUME FIGHT BETWEEN TWO COCKS WILL END WHEN PROJECT WILL BE AUCTIONED.{{IN PROCESS FO 2-3 mths time}.
    2] I AM STILL OPTIMISTIC that HIRA will take his own time to get his cards placed right in such a way that he will pull through auction.
    His project in Thane is in full swing,and also wil not affect for him to get rid off HIRCO, which he is planning for many months.
    3] Probably He will Tie up with more positive ,more orchestrated manner with BIG RE GIANTS LIKE< LODHA, or anything{We don't and never know}.
    4] Possibly he wont leave THE PROJECT as elections re on way, and high chances of getting NMIA through with support of congress....

    Anyway these are my predictions, may be time only will truly guide us,as we all are in same BOAT.

    Regards,and lets HOPE for best.
    savvy_v;)


    Savvy. I always admired ur positive attitude. By the way the post 1536 that ur referring to is a cut paste from my post more than six months back. When I used to raise that hirco is in deep trouble and you used to spread euphoria. Anyways reality is in front of us now and we have to face it.
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