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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

    Originally posted by rohu01 View Post
    I always thought there was a law which required builders to get the registration done within a fortnight or may be month after booking amount is received irrespective of status of construction. May be someone with more expertise can clarify this.
    I am not an expert but I would like to share some words of experience here. Nowadays, most of the builders accept booking amounts in the name of soft-launches and this even before they have received all approvals or construction certificates (CC) for constructing this building. The project is officially launched when MOST of the approvals are acquired. Also, the CC is not given for the entire building at once. Its normally issued in stages for e.g. first CC for construction till plinth, second CC for first 5 floors and so on till the last slab. Therefore, its logical that the registrations are being done only after construction of plinth which in itself is a proof that the builder has started getting CCs for this building from the concerned authorities. If the CC is not in place, I don't understand on what basis the registration could be done.

    I am a phase#1 buyer and I would like to share with you guys that after completion of plinth, it was left upon us by Hirco, whether or not to do the registration. Some investors opt to not do the registration so that they can easily sell-off the property when it is appreciated. We registered our flat immediately after plinth completion.

    cheers,
    B

    Comment


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

      Originally posted by rohu01 View Post
      I always thought there was a law which required builders to get the registration done within a fortnight or may be month after booking amount is received irrespective of status of construction. May be someone with more expertise can clarify this.
      Well,
      Rohu...
      Pointblank... Wrong.
      If it is so... All properties will be registered within one mth of time, and builder need to give possession in time as explained.
      It does not work like that.

      Procedure:
      Builder will launch project with Layout plan, Floor plan ,and area of flat.....with prior CC for building.
      Then procedure as follows;

      1] Booking amount recd on behalf of customer.
      2] Receipt of booking amount towards mentioned with signature duly signed by saler {RE} ,on INR 1 REVENUE stamp.
      {This confirmed the booking is done.}
      3} PAL{Provisional allotment letter issued by RE-SALER.
      4] Builder will get approval subsequently for floor wise plan from TDP.{Town development}.
      5] Meanwhile builder is expected to clear all formalities of building road DP PLAN , water connection/electricity connection to that particular building.
      6] Excavation& Plinth...
      7] Now Here is click.
      U can register the agreement of sale in registered office .... by paying REG dues as required by builder, u can opt or , u can do later.

      Registering property on ur name in DY SUB REGISTRAR OFFICE will ensure u to have flat on your name.
      The registered document will mention start date of Plinth; end of date & possession date.

      Bhushan rightly pointed some buyers have opted to sale transfer property, and save REG charges on their name....

      What i got from RM is we can register property once excavation/Plinth Demand note is asked for.. which is expected in OCT 2013 in VENUS case...

      I dono why delay is happening from PHASE -2 EXCAVATION;
      is it
      1] due to conflict between HIRCO/HPG.{I DONT THINK SO......{Mr. Niranjan will not tarnish image of Buyers especially the HPG},
      2] Is it because HPG is in hurry to not to tarnish image of them ,by speeding work on Phase-1,and handing over their flat.
      3] is it because some of the building Like {VENUS booking is full, and Selene almost 60-65%}- flora 25 %.. dono.
      4] Is it because hpg plan to habitable people in phase -1, and concentrate more on HPG club, and School, which could be a prime concern for them to attract buyers for PHASE-2..
      5] Is it because, delay in phase -1 will hamper delay & less booking of phase-2.

      Your expert opinion please forum is appreciated.....

      Bhushan can u focus ur views.....

      savvy_v
      Last edited March 30 2013, 01:15 PM.

      Comment


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

        Originally posted by bhushank4 View Post
        I am not an expert but I would like to share some words of experience here. Nowadays, most of the builders accept booking amounts in the name of soft-launches and this even before they have received all approvals or construction certificates (CC) for constructing this building. The project is officially launched when MOST of the approvals are acquired. Also, the CC is not given for the entire building at once. Its normally issued in stages for e.g. first CC for construction till plinth, second CC for first 5 floors and so on till the last slab. Therefore, its logical that the registrations are being done only after construction of plinth which in itself is a proof that the builder has started getting CCs for this building from the concerned authorities. If the CC is not in place, I don't understand on what basis the registration could be done.

        I am a phase#1 buyer and I would like to share with you guys that after completion of plinth, it was left upon us by Hirco, whether or not to do the registration. Some investors opt to not do the registration so that they can easily sell-off the property when it is appreciated. We registered our flat immediately after plinth completion.

        cheers,
        B
        B,
        What was duration
        1] In between Booking
        2] Registration of ur property at plinth level{ In Months}? Can u plz specify to Buyers.... FORUM friends...

        3] Can u also guide ... There was clause of 2 years block -Unlock period for Phase-2 Buyers.. Now still its there for People who opt for SELENE-FLORA....
        What was registration date /amount u paid for the end product of your flat?
        4] How was their approach when doing Reg formalities completed by HPG, were they line-ant and more cooperative...? was there any hurdles u faced while registering the flat...?

        Ur expert opinion will guide subsequent buyers... on this forum dear..
        can u focus your views...

        savvy_v

        Comment


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

          Originally posted by savvy_v View Post
          B,
          What was duration
          1] In between Booking
          2] Registration of ur property at plinth level{ In Months}? Can u plz specify to Buyers.... FORUM friends...

          3] Can u also guide ... There was clause of 2 years block -Unlock period for Phase-2 Buyers.. Now still its there for People who opt for SELENE-FLORA....
          What was registration date /amount u paid for the end product of your flat?
          4] How was their approach when doing Reg formalities completed by HPG, were they line-ant and more cooperative...? was there any hurdles u faced while registering the flat...?

          Ur expert opinion will guide subsequent buyers... on this forum dear..
          can u focus your views...

          savvy_v
          1. In addition can anyone please check how much is the penalty paid by HIRCo in case of delays in possession
          2. When does clock for two years lock in period start.

          Comment


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

            Originally posted by malkotia View Post
            1. In addition can anyone please check how much is the penalty paid by HIRCo in case of delays in possession
            2. When does clock for two years lock in period start.
            Well MALKOTIA....

            Penalty clause is not their from Seller side.. & even if there its difficult to take them in court of Law.
            Usually 6 mth late possession is VALID according to law, due to CRISIS, Man made,{STRIKE- APPROVAL etc etc...}. or Nature made{Floods, or any earth quake, or any major water issue or SAND,or CEMENT/STEEL issue}.

            As far as LOCK IN PERIOD ; its after DOB{Date of booking}.

            Hope thsi suffice u.
            savvy_v

            Comment


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

              Originally posted by malkotia View Post
              1. In addition can anyone please check how much is the penalty paid by HIRCo in case of delays in possession
              2. When does clock for two years lock in period start.
              Standard is 9% across the industry, I don't think Hirco will be any different, this clause is mentioned in the agreement, phase 1 guys will be able to tell us provided they have completed registration process.

              Comment


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

                Originally posted by realebuyer View Post
                Standard is 9% across the industry, I don't think Hirco will be any different, this clause is mentioned in the agreement, phase 1 guys will be able to tell us provided they have completed registration process.


                Ok Real...
                Absolutely u hit the nail.
                In fact the law says.
                1] If possession is more than 6 mths from the documented date of possession, the compensation earned is 9 % on the amount paid till the date of possession.
                e.g if DOP{Date of Possession }is; 1st July 2012... & possession of flat is in 30th June 2013 .{one YEAR DELAY} then there is delay of 6 mth possession.

                Say fr example; amount paid till 1st July 2012 , will be if 70 laks....
                9 % per annum will be given as compensation for 6 mth from Jan 1st to date of possession thats 30th june 2013.

                & approximately its as under; for 70 laks will be;
                Total Interest at 9 %; 318544


                Hope this suffice u.
                savvy_v

                Comment


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

                  Looking for a 1 BHK in the project

                  Hi everyone,

                  I am actually looking to buy a 1BHK flat in HPG Panvel.

                  Looking to purchase under the 20-80 scheme.

                  I have no hurry for moving in as i am planning to buy it for investment purposes.

                  Can anyone help me with the current prices. Any idea about the name of the buildings in which should be looking for.

                  Thanks & Regards

                  Comment


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

                    Originally posted by PanvelWizkid View Post
                    Hi everyone,

                    I am actually looking to buy a 1BHK flat in HPG Panvel.

                    Looking to purchase under the 20-80 scheme.

                    I have no hurry for moving in as i am planning to buy it for investment purposes.

                    Can anyone help me with the current prices. Any idea about the name of the buildings in which should be looking for.

                    Thanks & Regards
                    All 1 BHK have been sold out.....none available from the developer.....you may find one in the resale market......2 buildings having 1 BHK Apollo and Athena are nearing possession......at present there is no 20-80 scheme available for any of the buildings in this project.

                    Current price ₹4500 psft for all the buildings except Flora where it is ₹ 5000 psft.

                    Comment


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

                      Originally posted by realebuyer View Post
                      All 1 BHK have been sold out.....none available from the developer.....you may find one in the resale market......2 buildings having 1 BHK Apollo and Athena are nearing possession......at present there is no 20-80 scheme available for any of the buildings in this project.

                      Current price ₹4500 psft for all the buildings except Flora where it is ₹ 5000 psft.

                      Real, U have very-much inside information...
                      ?
                      SO VENUS RATE is how much...

                      Comment

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