Announcement

Collapse
No announcement yet.

Palace Garden, Hirco Group, Panvel, Mumbai

Collapse
X
Collapse

Palace Garden, Hirco Group, Panvel, Mumbai

Last updated: July 11 2017
1825 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Palace Garden, Hirco Group, Panvel, Mumbai

    Originally posted by vinchi View Post
    Hi Savvy,
    I am sure i am not at their mercy,but i do not unerstand why u go on their phone call. I do not think that will be official,if that was the case why do they make us sign on allotment letter,you should tell them explain me the terms n conditions on phone and i will say agree.
    The 20%-80% scheme I was mentioning throught out INDIA. I AM not saying anything about IB, AS i have not dealt with them,so no bad exerience.U might be right on IB.
    Savvy i have nothing personel aganist Hirco,I only expect them to be more professional,as u we all paid a premium only for their name,so that they deliever their product on time.Nice to see u and few other members very active on this forum,I would love to see more members for phase 1 n 2 to write a few lines.
    Vinchi Be practical...
    The clause in PAL u haven't read properly it look to me like that.
    Please see that there is clause mentioning the facts of change of location, subject to approval ....
    I agree HPG shud be more professional But as of today if u compare IB, they are worst than HPG...
    I am hopefull they will oversee & start delivering product ASAP. hope so.
    In India anything can happen to INDIANs...delay, strike, non compliance of laws...etc etc etc etc...
    Savvy_v

    Comment


    • Re : Palace Garden, Hirco Group, Panvel, Mumbai

      Originally posted by vinchi View Post
      Hi all,

      These are the issues when a project is delayed.

      Pehredaar Ep 96 - YouTube
      Exactly ..if phase-2 gets delayed further and rates go-up ..HIRCO will try to get rid of customers who booked in pre-launch or will try to find some reasons from escalating the cost ...

      Comment


      • Re : Palace Garden, Hirco Group, Panvel, Mumbai

        Originally posted by malkotia View Post
        Exactly ..if phase-2 gets delayed further and rates go-up ..HIRCO will try to get rid of customers who booked in pre-launch or will try to find some reasons from escalating the cost ...
        MAlkotia...
        So ur NRI..hence cant see project developments....But u can endorse to get your views /querries cleared ..
        since u r NRI..
        Can u explain me how rates will increase when we already have had PAL.........
        with 20 % booking downpayement

        Comment


        • Re : Palace Garden, Hirco Group, Panvel, Mumbai

          Yep . i think i have read something similar about the SEZ revenues .. But thats true for probabaly hundreds of other SEZ's that have been formed last few years ..

          If you go thru some of the minutes of the links i sent you, all that happens is that they keep granting extensions .. FOr NMSEZ, weren't they changing the entire rulebook to accomodate Reliance ..

          So ... i guess my point is theres' nothing illegal and unsanctioned here that we know of, othere than that 1 acre enroachment we heard of earlier and a slow economy and possibly a slow approvals process that has caused delays .. That being said, the long term growth story of that area in general is still intact ..

          I feel Vinchi and malkotia have a valid concern about not having concrete info on Phase 2 .. I belive some of these buildings have been launched well over 2 years back .. I'd be concerned as well if i don't hear anything definite abt Phase 2 and another Phase 1 construction update in the next 2-3 mths ..

          Enjoy!!

          Originally posted by realebuyer View Post
          Vikas, the link that you have shared is pretty old stuff.......there is no clarity on the current status of their SEZ.....you are absolutely right that SEZ falls under Ministry of Commerce and Industries but every state has a DC(Development Commissioner) who keeps a track of all the SEZ activities in his state. If you have links in DC you can easily get this info.

          I am trying to get some more info on this coz as per my knowledge SEZ should start generating revenues in stipulated time but looking at their commercial buildings i don't think they will be able to show this any time soon.

          Anyways if you guys know more about this please share it on this forum.

          Believe me these are complex things but can have lot of impact on a project.

          Comment


          • Re : Palace Garden, Hirco Group, Panvel, Mumbai

            Originally posted by vikas123 View Post
            Yep . i think i have read something similar about the SEZ revenues .. But thats true for probabaly hundreds of other SEZ's that have been formed last few years ..

            If you go thru some of the minutes of the links i sent you, all that happens is that they keep granting extensions .. FOr NMSEZ, weren't they changing the entire rulebook to accomodate Reliance ..

            So ... i guess my point is theres' nothing illegal and unsanctioned here that we know of, othere than that 1 acre enroachment we heard of earlier and a slow economy and possibly a slow approvals process that has caused delays .. That being said, the long term growth story of that area in general is still intact ..

            I feel Vinchi and malkotia have a valid concern about not having concrete info on Phase 2 .. I belive some of these buildings have been launched well over 2 years back .. I'd be concerned as well if i don't hear anything definite abt Phase 2 and another Phase 1 construction update in the next 2-3 mths ..

            Enjoy!!
            Well this is what i found:

            Minutes of the 48th meeting of the SEZ Board of Approval held on
            19th September 2011 to consider proposals for setting up Special
            Economic Zones

            "Request of M/s. Sunny Vista Realtors Private Limited for second extension of the
            validity period of formal approval, granted for setting up of sector specific SEZ for Multi
            Services at TalukaPanvel, District Raigad, Maharashtra, beyond 14th October, 2011"

            source: http://sezindia.nic.in/writereaddata...ber%202011.pdf

            According to above statement their SEZ was valid till 14th Oct 2012 and have also checked all the minutes of the meeting till 53rd meeting but did not find any request for extension, so going by this their SEZ has expired and once it is expired you cannot extend it also you have to pay fine and all the tax exemptions that you have claimed so far.

            I really don't know what would be the implications of this on Phase I and Phase II.

            Well this is my observation things might be different, will keep you guys posted if i come across anything.

            Comment


            • Re : Palace Garden, Hirco Group, Panvel, Mumbai

              Originally posted by savvy_v View Post
              MAlkotia...
              So ur NRI..hence cant see project developments....But u can endorse to get your views /querries cleared ..
              since u r NRI..
              Can u explain me how rates will increase when we already have had PAL.........
              with 20 % booking downpayement
              I think project development for phase-1 has progressed well so far ...recently there was a news, not sure if it is authentic or not that work has stopped ...since the structure is ready phase-1 can get delivered as per plan, only if Hirco wants to .. My assessment is as below:

              The area near HIRCO is still uninhibited.. so HIRCO will now try to delay possesion of phase-1 since there are not many employment generation opportunities in the vicinity and HIRCO itself does not have major customers for its SEZ ..they have no incentive to provide possession quickly ...mainly builders collect 95% money till the structures are completed and only 5% payment is due at the time of possesion...Once phase-1 is handed over and they have some critical mass of the people staying there they will start phase-2. Since a large percentage of the apartments are owned by investors, the occupancy will be low as in the absence of employment opportunities, there will be not many tenants available. The only companies in the vicinity are major manufacturing units such as reliance , Hindustan organic etc who have their own townships ..So I think all in all it depends on how well HIRCO's commerecial/SEZ goes ..

              The risk that is there with phase-2 is that if it gets delayed and rates are up by the time phase-2 is about to start ..builder can play some game to extract more money like change in plan, unit size, cancellation of existing buildings and launching under different names ..for example Selene can be cancelled and launched as "Pelene" ..Flora cancelled and launched as Dora etc ...very less possibility but more the delay more possibility of it getting materialised...

              In Chennai ..they delivered phase-1 (low rising buildings ..) in 2010 and after that there is no clarity on further phases ..The difference in Chennai is it is mainly end-user market and most of the people who had booked in phase-1 have moved to their apartment as HIRCO is very near to the IT hub so it suits people (employment is already their unlike HPG) ...Even then they are struggling to deliver ...

              Let us see ..wait for phase-1 to get delivered? Any idea when they are posting new Mercedes Benz (I mean video ...)?

              Cheers ............
              Last edited March 25 2013, 12:35 AM.

              Comment


              • Re : Palace Garden, Hirco Group, Panvel, Mumbai

                Originally posted by malkotia View Post
                I think project development for phase-1 has progressed well so far ...recently there was a news, not sure if it is authentic or not that work has stopped ...since the structure is ready phase-1 can get delivered as per plan, only if Hirco wants to .. My assessment is as below:

                The area near HIRCO is still uninhibited.. so HIRCO will now try to delay possesion of phase-1 since there are not many employment generation opportunities in the vicinity and HIRCO itself does not have major customers for its SEZ ..they have no incentive to provide possession quickly ...mainly builders collect 95% money till the structures are completed and only 5% payment is due at the time of possesion...Once phase-1 is handed over and they have some critical mass of the people staying there they will start phase-2. Since a large percentage of the apartments are owned by investors, the occupancy will be low as in the absence of employment opportunities, there will be not many tenants available. The only companies in the vicinity are major manufacturing units such as reliance , Hindustan organic etc who have their own townships ..So I think all in all it depends on how well HIRCO's commerecial/SEZ goes ..

                The risk that is there with phase-2 is that if it gets delayed and rates are up by the time phase-2 is about to start ..builder can play some game to extract more money like change in plan, unit size, cancellation of existing buildings and launching under different names ..for example Selene can be cancelled and launched as "Pelene" ..Flora cancelled and launched as Dora etc ...very less possibility but more the delay more possibility of it getting materialised...

                In Chennai ..they delivered phase-1 (low rising buildings ..) in 2010 and after that there is no clarity on further phases ..The difference in Chennai is it is mainly end-user market and most of the people who had booked in phase-1 have moved to their apartment as HIRCO is very near to the IT hub so it suits people (employment is already their unlike HPG) ...Even then they are struggling to deliver ...

                Let us see ..wait for phase-1 to get delivered? Any idea when they are posting new Mercedes Benz (I mean video ...)?

                Cheers ............
                Agree , but very disappointed with work at low progress...
                Well Malkotia.... Do u think delay will necessarily attract Seller to increase prize.... when they have signed PAL.... and if so, why a buyer shud pay more when he has booked in early bird... in fact the sufferers wud be the new buyers... isn't it?
                I don't agree with ur equation as old bird buyers have to suffer with new rates and all.....
                If so, all people will think of pulling back...
                whats ur take on this.....
                I think they will attract more buyers by offering... BMW/MERCEDES... he he
                savvy_v

                Comment


                • Re : Palace Garden, Hirco Group, Panvel, Mumbai

                  [QUOTE=iamgsprabhu;9340]Dear friends,

                  Hiranandani Panvel will be launching by next week at the rate of Rs 3600 psf on [super]builtup area.
                  this post is on 2008..


                  considering 4 years, now.. do u think rate for HPG has appreciated??????
                  from 3.6 k to 4.5 k,
                  900 rs in 48 mths....
                  Whats people take???
                  savvy_v

                  Comment


                  • Re : Palace Garden, Hirco Group, Panvel, Mumbai

                    [QUOTE=savvy_v;778827]
                    Originally posted by iamgsprabhu View Post
                    Dear friends,

                    Hiranandani Panvel will be launching by next week at the rate of Rs 3600 psf on [super]builtup area.
                    this post is on 2008..


                    considering 4 years, now.. do u think rate for HPG has appreciated??????
                    from 3.6 k to 4.5 k,
                    900 rs in 48 mths....
                    Whats people take???
                    savvy_v
                    This will be increase by another 600-900 by delivery middle 2014....but not that good an appreciation what I got out of powai , bought at 5.5 in 2009 today it is 12-13k delivery dec 2013

                    Comment


                    • Re : Palace Garden, Hirco Group, Panvel, Mumbai

                      Rates of Ulwe has come down by 1000 rs as aiirport got cancelled.

                      Endusers can book flats now.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X