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Palace Garden, Hirco Group, Panvel, Mumbai

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Palace Garden, Hirco Group, Panvel, Mumbai

Last updated: July 11 2017
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  • Re : Palace Garden, Hirco Group, Panvel, Mumbai

    Phase -2 Work.

    First of all, wishing Happy Holi to all the Group members.
    I recently talked to HIRCO people. they confirmed that internal work for Phase-1 is going on. Regarding Phase-2, it was informed that work for Phase-2 buildings Selene etc it will start in 12 months time. For Flora it will take another 18 months. ( + /_ 2 months ).
    There are another activities are going on in this area, which are positive for HPG Project.
    1. Work for widening of Pune express highway between Chembur and Panvel is in full swing, many flyovers are also being constructed ( at Sanpara, near CBD hill etc.
    2. Flyover in Panvel is already constructed.

    All this will result in reduction of travel time.

    Thanks

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

      Hi Seekigurview,
      R u sure phase 2 will start in 12 months,which is MARCH end 2014.As Hirco calls savvy often, go to page 106 article 1059. Savvy has said OCT 2013.It is strange.
      Anyway lets all celebrate Holi,with lots of colour,as hirco gives us chuna presently.
      Wishing all a very HAPPY HOLI.

      Comment


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

        Originally posted by seekigurview View Post
        First of all, wishing Happy Holi to all the Group members.
        I recently talked to HIRCO people. they confirmed that internal work for Phase-1 is going on. Regarding Phase-2, it was informed that work for Phase-2 buildings Selene etc it will start in 12 months time. For Flora it will take another 18 months. ( + /_ 2 months ).
        There are another activities are going on in this area, which are positive for HPG Project.
        1. Work for widening of Pune express highway between Chembur and Panvel is in full swing, many flyovers are also being constructed ( at Sanpara, near CBD hill etc.
        2. Flyover in Panvel is already constructed.

        All this will result in reduction of travel time.

        Thanks
        Internal work is going on only for Apollo and Athena.
        For rest o the buildings no work is going on.....

        Comment


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

          Originally posted by vinchi View Post
          Hi Seekigurview,

          R u sure phase 2 will start in 12 months,which is MARCH end 2014.

          HTML Code:
          As Hirco calls savvy often,
          Well, Vinchi, Thanks for sarcastic comment ,but I do get feedback from them on my queries.
          They don't call me , they do respond to my mails....

          HTML Code:
          go to page 106 article 1059. Savvy has said OCT 2013.It is strange.
          Well, Probably things might get delayed too, we never know whats their strategy.. They will never disclose..but I was told by me RM the proposed date,as mentioned above{OCT 2013}.
          So we shud be ready fr new date too.....



          Anyway lets all celebrate Holi,with lots of colour,as
          PHP Code:
          hirco gives us chuna presently
          Chuna is needed also Vinchi... dont forget white color...


          Wishing all a very HAPPY HOLI.
          savvy_v
          Last edited by savvy_v; March 28 2013, 12:32 PM.

          Comment


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

            Hi Savvy,
            I was not trying to be sarcastic,sorry if u felt so,I only thought may be u get first hand info,So basically we r all only doing guess work.Savvy can u plz once again when they r going to start phase 2,by the way who is your RM.
            THANKS.

            Comment


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

              Very interesting .. Activist Hirco PLC investors trying to create trouble ..

              Hiranandanis move court to block hostile takeover of Hirco - The Economic Times

              Comment


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

                Will Hiranandani Grp's foray into new cities be successful?

                Q: I want to begin by asking you the 100 million pound offer you made last year to buyout Hirco was rejected, have you submitted a new revised offer?

                A: We did give an offer but it was declined. I had filed an arbitration issue in Singapore against Hirco public listed company (PLC) because they have said that the delays, which have taken place were not disclosed to Hirco PLC at the time of AIMs listing, which is ridiculous because everyone knows the world went backwards, Lehman collapsed. The whole delay has taken place. Now they are trying to blame those delays and the setback in 2008, upto 2010 on me. So, I have resigned as Chairman of Hirco but they want to blame it on me and so I have taken an arbitration proceeding against them in Singapore.
                Q: You are saying that you are now in arbitration in Singapore, but once again are you considering the possibility of submitting a revised offer for Hirco?

                A: Not really. I haven’t really now reconsidered because I think they are kind of blaming me all the time, so, we have to really try and see what else we can do. I am not averse to making offers, but it depends on how the whole discussions, arbitration, and other things go through. But we can do a lot.

                Comment


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

                  Will Hiranandani Grp's foray into new cities be successful?

                  Q: Coming to the Hiranandani Group, we understand it wants to foray into Ahmedabad, Nashik and Pune. You have already purchased land there and are looking at high-end residential projects, so by when are you expected to launch those projects?

                  A: Yes, we are looking at Ahmedabad, Pune and Nashik as an opportunity to take things forward. The cities of Mumbai, Bangalore, Chennai and now additions to these are the things we are looking forward.

                  We would look by Diwali of this year, we should have atleast two out of three launched but these can always be restructured. Most of the states are now looking at revised policy.

                  There was news that they are going to increase floor space index (FSI) in terms of these townships. Now if they really do walk the talk, in this sense of the term then we really have to design the project slightly differently. Also that will make middle class and lower segment also more affordable.

                  : Every developer’s delivery timeline went out of whack after the 2008 financial meltdown. Are you also behind schedule?

                  A: Since 2008, I think deliveries have slipped. Firstly, the demand slipped and later on the execution slipped mainly because of a lot of approval issues. I think we were devastated in terms of approvals. It took a long time to get most of the approvals through. So, we have had setbacks in terms of creating more construction throughput.

                  We have not had as much difficulty in terms of sales. So, sales and marketing is still very proactive and positive. We have had good sales. We had no reduction in prices. Infact, they have gone up. So, I think all in al, we would say that the setback would be by say two years of deliveries.

                  Comment


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

                    Seekigurview,

                    Pretty old stuff mate......lot has changed since this news

                    Comment


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

                      Originally posted by vinchi View Post
                      Hi Savvy,
                      I was not trying to be sarcastic,sorry if u felt so,I only thought may be u get first hand info,So basically we r all only doing guess work.Savvy can u plz once again when they r going to start phase 2,by the way who is your RM.
                      THANKS.
                      The reality is even vandrevala doesn't know when they are going to start phase 2. Selene flora etc are gimmick for getting easy money from investors and trying to sort out there financial mess. In pre launch they have no commitments. Any time you ask they will say work will start in one year. Ye Hirco ka one year kab ayega. If they have any clarity they will quote date rather than period. They never said work will start in mar14. It is a moving target.

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