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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 realebuyer View Post
    Will try my best to be there.....will keep you posted on same........let us have a list of questionnaire prepared before the meeting
    SURE.
    REAL make sure to come on that day.
    Please let me know ur number in my pvt box.
    also we can make questionnaire,and ask them in detail.
    Will u please mail questionnaire in my pvt box.
    thanks,
    regards
    savvy_v

    Comment


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

      Savvy_v

      Lets involve everyone while defining questionnaire.

      Comment


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

        Originally posted by realebuyer View Post
        Savvy_v

        Lets involve everyone while defining questionnaire.
        Thanks Savvy and realbuyer for coming forward to discuss these issues with HIRCO. My Suggestions are as below, please insist on getting response in written and not agree for verbal assurances.

        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 on behalf of the buyer community of HPG Panvel we are approaching you to address the concerns of the group. Please see below the major concerns raised by the investors, I hope you will be able to respond to the point on each one of these queries.

        1. There are news in the market that the work on phase-1 of the project has virtually come to a standstill because of in-fighting between HIRCO plc and Hirmanandanis whereas the RMs of the project are assuring buyers that the work is in full swing and phase-1 is still planned to be handed over by Jun-2014.

        Can you clear the air by issuing a written statement to the buyers of the project.

        a) Is work in the project continuing as per plan. We would like to visit the site and assess the progress ourselves.
        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

        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

        3. There was a news recently in the media that "Care has suspended the rating assigned to the bank facilities of Sunny Vista Realtors".

        Can you explain the situation on the same, how will this effect the buyers in the project. Does it mean that banks will no more sanction a loan against this project

        These questions are being asked on behalf of a big group of the buyers in the project and therefore it is very important that HIRCO takes these concerns seriously and issues a formal (written) response to the same. We are 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 will also spread the word in their circle about the same.

        Other members please provide your inputs so that we can make first draft of our agenda with them
        Last edited April 14 2013, 04:49 PM.

        Comment


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

          hi Guys,
          I agree with malkotia,and i am in for it,even realbuyer n smartocrazy make sense.
          PLZ take in writting,only that makes sense in the law.

          Comment


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

            This guy single handedly took Hirco to task....

            I made a flat booking with M/s Hiranandani ( Hirco ) during Muscat (Oman) promotion in December 2007. A token booking amount of Rs 100, 000 was made on 10th December, 2007. Subsequent payment of Rs 11, 08, 350 was made on 13th Jan 2008. Payment schedule and flat costing was part of the stamped receipt issued by Hirco on making token payment. I made site visit during Early January 2008.

            My booking was for a flat in Wilton-II on the 15th floor of Hiranandani Palace Gardens, Chennai. I was given a Provisional allotment of flat 1501. I had requested for a higher floor and I was told that the availability was only on 15th or lower floor in their 27 storied building. The building was part of a project which includes couple of similar buildings housing a few hundred flats & with amenities like plush landscape, state of art hospitals, schools, club, recreation facilities, commercial areas etc. The presentation was indeed impressive.

            Indeed it was mis selling at the first place, since the project is located in Kanchipuram district not Chennai as explained and sold under banner of Chennai property.

            On 30th Jan, 2008 I received a revised payment schedule from Hirco, different from the agreed one at the time of booking. The revised payment schedule mentioned 14 installments as against 27 as per initial stamped offer letter. This meant substantial payment to be made on reaching 15 floors which certainly was not acceptable. I wrote back to Hirco on 24th Feb, 2008 highlighting the discrepancy on the installment Hirco admitted the discrepancy and accordingly corrected payment schedule was sent by Hirco on 4th March, 2008.

            As per the initial payment terms, interest shall be charged 18 % pa for delayed payments, cancellation charges shall be levied 1 % of the flat cost. The provisional allotment letter also has a condition that in case of nonpayment of any installments, any other amounts, Hirco will be entitled to terminate the allotment on giving 15 days notice. Yet another condition in the provisional allotment was that in case the sanctions as envisaged are not received by 31/12/2008, all the amount/s paid shall be refunded in full without interest and without any liabilities/claim/damage against Hirco.

            In June I came across some discouraging articles on the net about the project. I requested Hirco on 13th June 2008 to escalate the matter to Hirco management and clarify issues. Hirco never bothered. I visited the site on 1st July, 2008, met senior official Mr.Wittner, Daniel & expressed dissatisfaction on progress made by Hirco in 6 months and enquired on approval status for high-rise buildings. The reply was not encouraging. I was in constant communication with Hirco to know more. I requested Hirco to give me revised payment schedule based on progress. I received a mail on Aug 27 2008, mentioning that plinth will be reached in Jan 2009 (One year after booking) and possession in November 2009.

            With no real progress in Wilton I got concerned & was keeping an hawk eye on the project progress , started to feel fire in my belly, worrying on my hard earned investment ( apparently Hirco was awaiting approvals to commence work )
            3rd Oct, 2008 I sent a mail to Hirco Customer care expressing disappointment on progress, with a repeat mail on 18 October 2008. Hirco replied on Oct 21, 2008 stating they have escalated my concerns to management. Dissatisfied with the development I wanted to cancel my booking after about 10 months of virtually no progress on Wilton, I wrote to Hirco on 18 Oct, 2008 asking for way to cancel my booking. At this stage the response from Hirco was Luke warm with no replies. I sent a mail on 31st Oct 2008 asking them what was preventing them from response. On Dec 13, 2008 Hirco replied stating the work on Wilton has started and there will be no further delay. It also stated that they have received approvals and awaiting final documents to be signed off. Apparently it was evident that Hirco failed to obtain all approvals by Dec 2008. (As envisaged) As per the terms Hirco should have refunded on this account, but they choose to keep the customers in the dark and conceal these facts, presumably to do away from refund to its investors as laid down in terms of offer.

            On 28th Jan 2009, I sent a mail to Hirco expressing my frustration and said I will be pleased to cancel my booking even if it means a loss of interest for one year.

            Hirco replied giving consolation stating that the property has made appreciation and as regards cancellation, the reply was Hirco will only allow reselling on completion of a lock in period of two years and in my case the lock-in period would end by Dec, 2009. (A untenable new clause being introduced by Hirco to suit their convenience which was nowhere referred to in any of the correspondence / documents / terms nor a part of any agreement). Hirco offered that for resale after lock in period, Customer can either resell on their own or Hirco will assist, but the transfer charges will be 1 % and customer will not be given any benefit of appreciation.

            After continuous follow up, Hirco sent a mail on 6th Mar, 2009 stating that the lock in period is reduced to 1 year in my case as a special consideration and I can resell after 1 year (I had not asked for resell anytime, I only wanted cancellation and refund from Hirco )I replied to Hirco stating I am not in business of buying and selling, and requested Hirco to sell and refund with some interest / benefit of sale. I pressed for refund with a repeat mail on 20th Feb, 2009. Hirco replied on 9th Mar, 2009 stating that my concerns have been escalated.

            On 13th April, 2009 I again pleaded them to recover 1% and refund, albeit I had earlier requested them for waiver of this since the project was delayed and default was from Hirco.

            Several correspondences were exchanged with no end result. On 12th Feb, 2010 I sent a request to Hirco to refund with deduction of 1% cancellation charges and 18 % interest for delayed period of refund from the day of my first request.
            April 23, 2009 Hirco wrote stating that they will place my apartment for resale in their inventory and resale transaction will incur 1% transfer charge.

            I sent close to hundred mails requesting for refund. On Jul 4, 2009, the vice president- customer care replied stating that the apartment was in their sale inventory and as soon as they sell they will refund. (What has this got to do, irrespective of this I should have been refunded.)

            In Nov 2009 I received a mail stating they are progressing well & requesting for payment of installment levying interest charges also. (Is this progress? 2 long years for reaching plinth?). What was annoying was Hirco levying interest, whilst the delay in execution of project was unanswered and secondly why was Hirco sending demand note, whilst my refund request was pending with them for about a year. I strongly contested the interest charges. Hirco accepted on withdrawing the interest charge, the subsequent demand notes were sent with a rider total amount due (excluding interest if any). I contested the rider also over the phone and wanted to remove the “if” clause. Eventually I received the demand note for 13th slab with the “if” clause removed.

            Hirco started sending regular demand notes for further installments. I made no payment, rather I requested Hirco to exercise their clause of termination of allotment for delaying payments by over 15 days as laid down in the provisional allotment letter. In fact I received about 20 such demand notes over a period of Oct-09 & Aug-10. No payments were made against the 20 demand notes. But Hirco was not even willing to exercise this clause and refund the investor even upon repeatedly prompting them.

            I kept the follow up uninterrupted. On May 05, 2010 I received a mail from Hirco stating that the cancellation charge will be 17.5%. Presumably Hirco wanted to scare me and wanted me to withdraw my cancellation demand and tried to arm-twist with nefarious ways. I replied back disputing them on the cancellation charge and giving earlier reference from their vice president confirming cancellation charge as 1 %. I also requested them to proceed with the cancellation and refund whatever is contractual and warned them that I will take the help of media and consumer court to get what I am entitled to.
            I was thoroughly disturbed by their two year long ordeal and mental torture for denying refunding my money.

            I lodged a complaint with CNBC Tv 18 on their program Beware. With this complaint Hirco started to yield and agreed to refund with a condition that I should withdraw the complaint. Finally I received my principle without any interest on 21 Sep 2010 but they still denied me the interest loss and they were not ready to share the benefit they get on resale. Technically I should get the refund with interest for delayed period. In the process Hirco forced me to send a letter stating withdrawal of my complaint with CNBC Tv 18. The scanned letter in Pdf format I sent as an attachment to one of my mails with following details

            Ref: My complaint on show ‘Beware’ telecast on CNBC Tv 18,

            Subject “Acceptance of EMI principle settlement- withdrawal of complaint”.

            Had no addressee and was signed with no name of signatory and did not carry any date. No signed letter was sent to Hirco on withdrawal of any complaint with them or agreeing to the refund terms or agreeing that I have no pending grievances or accepting settlement in any form. No letter was sent to CNBC withdrawing my complaint.
            In fact Hirco is having a double whammy in having retained my deposit for two years and have earned interest for themselves and secondly reap benefit on resale at current price.

            Why did Hirco collect huge sums without approvals, & no intentions to build for almost two years,had no curtsy to even notify its investors. A mere token advance should have been good enough for bookings.

            My request is that since Hirco failed to get approvals in time, Hirco failed to kick start the Wilton building on time, failed to catch up on progress, failed to deliver on time, failed to keep the investors informed, failed to refund on time, failed to even execute the clause of termination for so called delayed payment, Hirco is liable for compensation to its customer. Accordingly I should be compensated the interest loss atleast for two years albeit I have paid about three years earlier. (Interest applicable atleast from the day I requested for cancellation (i.e) for two years if not for three years since payment of EMI)

            Secondly as per the provisional letter I should have got my refund in 2008, since Hirco apparently could not get necessary approvals, Hirco should refund with interest w.e.f Dec2008. I have certain documents which conclusively prove Hirco got approvals only in 2009.

            I also request that I should be given the damages on account of their harassment in delaying the refund and causing mental trauma & stress including loads of time spent on following up for refund of principle & interest.

            When I cautioned him that I will approach media as well as consumer courts for the assistance, the reply from Hirco was that of mock & casual “It will take years for the courts to give justice and the case will have a slow death on its own”. I hope that Hirco will be proved wrong and the judicial system will make them realize that justice prevails and also prove that no one can make mockery of the courts and above all we love & respect the almighty, fear the law, do no injustice and refrain from deceiving the innocents

            Accordingly I claim compensation from Hirco.
            Source: Delay in refund from Hirco | CONSUMER COURT INDIA

            Comment


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

              Originally posted by realebuyer View Post
              This guy single handedly took Hirco to task....



              Source: Delay in refund from Hirco | CONSUMER COURT INDIA
              There modus operandi is very clear. Launch phase 1 make decent progress on the same. Collect money in the name of phase 2 and sit quite and dupe investor of their money. They are playing the psyche of more delay more gains to their advantages.

              Comment


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

                The only thing that can be taken out from this "There are no Brand's in Real Estate" all are same.....you cannot associate the word "Trust" with Indian Real Estate....barring a few like Godrej, Mahindra and Tata rest all are here to play with investors money....think twice before investing with "Hiranandanis"

                Comment


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

                  Originally posted by realebuyer View Post
                  The only thing that can be taken out from this "There are no Brand's in Real Estate" all are same.....you cannot associate the word "Trust" with Indian Real Estate....barring a few like Godrej, Mahindra and Tata rest all are here to play with investors money....think twice before investing with "Hiranandanis"
                  realbuyer Yes ...that is lesson for future ..we still have to come out of current situation ..The only way these guys will budge is if they are faced with negative publicity ..we have to go as a group and also garner media support ...

                  Comment


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

                    Originally posted by malkotia View Post
                    Thanks Savvy and realbuyer for coming forward to discuss these issues with HIRCO. My Suggestions are as below, please insist on getting response in written and not agree for verbal assurances.

                    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 on behalf of the buyer community of HPG Panvel we are approaching you to address the concerns of the group. Please see below the major concerns raised by the investors, I hope you will be able to respond to the point on each one of these queries.

                    1. There are news in the market that the work on phase-1 of the project has virtually come to a standstill because of in-fighting between HIRCO plc and Hirmanandanis whereas the RMs of the project are assuring buyers that the work is in full swing and phase-1 is still planned to be handed over by Jun-2014.

                    Can you clear the air by issuing a written statement to the buyers of the project.

                    a) Is work in the project continuing as per plan. We would like to visit the site and assess the progress ourselves.
                    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

                    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

                    3. There was a news recently in the media that "Care has suspended the rating assigned to the bank facilities of Sunny Vista Realtors".

                    Can you explain the situation on the same, how will this effect the buyers in the project. Does it mean that banks will no more sanction a loan against this project

                    These questions are being asked on behalf of a big group of the buyers in the project and therefore it is very important that HIRCO takes these concerns seriously and issues a formal (written) response to the same. We are 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 will also spread the word in their circle about the same.

                    Other members please provide your inputs so that we can make first draft of our agenda with them

                    Few Points here to quote;
                    1] We can approach a legal advocate/Advisror who can guide us & also threaten on our behalf the notice to HIRCO, and also guide on us tfor consumer court for delay compensation issue.
                    2] NRI community can come close to expose HIRCO/HPG panvel,in this a,nd will certainly make things complicated for them through legal advisor.
                    3] At least many NRI people can come over & form a forum to lodge our legitimate rights of delay in possession & their return in term of MONEY.
                    4] HPG PANVEL management has to give us a firm date without fail/
                    5] Had the construction would have gone nicely, and there is delay for paying DEMAND NOTE, then we have no value.. if we pay demand note late.
                    6] HPG should give access for decision for buyers to opt for pull-out if they don't give FIRM COMMITMENT.
                    I have no hesitation to approach TIMES NOW or CNBC or CNN if we can visit as in GROUP, as everyone money is stuck up for an investment.
                    MALKOTIA REAL <AND BHUSHAN plez comments on above points.

                    Me visiting on 22nd APRIL.
                    Can REAL e join me there?

                    savvy_v
                    Last edited April 14 2013, 11:00 PM.

                    Comment


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

                      Lets form a closed group and discuss our strategy there, since this is a public forum there are chances that Hirco guys might read this and will be prepared for our onslaught.

                      Comment

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