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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1723 Replies
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  • Don't worry 30% flats r booked by MP, MLA & corporates. Remaining will be Marwari - Gujarati business cmnty. Rest will be mostly Nri investor. All approvals come without hurdle
    CommentQuote
  • Originally Posted by ashishpune
    Thanks for the Thread-page#6. It gives me fair idea as to what to expect.
    Has HIRCO provided approval papers from Forest department? Usually Forest department bring their stay orders when the construction is half way through and all the flats are sold out.


    Expect another hike in base rate of HPG very shortly, now that the navi mumbai airport has been cleared....
    CommentQuote
  • do they have anything vacant..? or its been a sold out project already..?

    most of the apartment plans that I see on allcheckdeals says "sold out...
    CommentQuote
  • inventory is there , u can get at 3950 but only above floors
    CommentQuote
  • What is the revised price in HPG panvel?

    Any idea about the new prices after the Airport green signal? I suppose Indiabulls already hiked the base price by 15%, now quoting 4000 base price.
    CommentQuote
  • Originally Posted by VishalPrabhakar
    do they have anything vacant..? or its been a sold out project already..?

    most of the apartment plans that I see on allcheckdeals says "sold out...


    If you take a closer look (at allcheckdeals website) you will understand that only the flats with higher loading factor are available now for e.g. 2BR-3T and 3BR-4T are the only ones that are shown to be available.

    Also as Simsim has said higher floors' inventory might still be available but they might want to sell it themselves rather than through allcheckdeals.
    CommentQuote
  • Hi,
    I am a first-time buyer & have been going through the posts. Extremely informative & well-written, I must say.
    I had written to the Hiranandani sales team & the last rate that they gave me was still 3950/- with 25/- sq ft rise, as of 15th Nov.
    The floors available were mostly 29-31, with 26-31 available in only one building
    CommentQuote
  • Question abt LOC - Bushan pls reply

    Hi Bushan,

    I just booked a flat in Claremont 2.5BHK 1499sqft. They want me to sign something called LOC and something what I read in there is little scary.

    Since you had the exact same building/ sq ft area area , did you also sign this LOC ?

    Please reply as soon as possible.

    Here are the some points from the LOC :


      I/We have gone through the tentative drawings of the proposed building and I/we are aware that being tentative plans, the same are subject to modifications, changes and revision in terms of the size, area,designs etc.I/We are aware that the residential flats in the said Hiranandani Palace Gardens, Panvel is in the nonprocessingzone of the SEZ and the same are subject to the Special Economic Zones Act, 2005 and the SEZ Rules, 2006. I/We am/are also aware that the construction/allotment of the said flats is subject to
      approvals from various statutory authorities including the Municipal and other local authorities.

      I/We am/are interested to acquire 1 (One) flat(s) at the location as shown in the attached plans in Hiranandani Palace Gardens, Panvel as per the plan attached herewith as "Annexure 1". The plan
      and the size/area of the flat is merely indicative and will be subject to change, modification and revision. I/We understand that the actual size of the flat may increase and/or decrease.

      I/We agree that the rate applicable for the said flat shall be Rs. 3,950/- per sq. ft.. The total area of the flat shall be approx 1,499 sq ft. which includes carpet area and balcony, if any and common
      areas. I/We am/are also aware that in addition to the basic price, there will be additional sum of Rs. 25/- per sq. ft. per level rise payable by me/us, on account of level rise for each level of the
      building. I/We also understand that the total consideration amount may vary and the same is subject to approvals of the statutory authorities and the same may also vary depending on the
      modifications/changes/revision in terms of the size, area, designs of the flat. The details of the said consideration is mentioned in the Quotation dated ...


      I/ We agree that any liability arising out of Service Tax/Vat or any other taxes or Government Levies etc., as may be applicable from time to time, in respect of the above transaction, shall be to my/our account.

    CommentQuote
  • Bushan - pls. reply

    Her is 1 more point from the LOC :

    I/We have gone through the tentative drawings of the proposed building and I/we are aware that being
    tentative plans, the same are subject to modifications, changes and revision in terms of the size, area,

    designs etc.

    I really don't want to sign this.
    CommentQuote
  • When will you guys grow up

    Originally Posted by sonu78
    Her is 1 more point from the LOC :

    I/We have gone through the tentative drawings of the proposed building and I/we are aware that being
    tentative plans, the same are subject to modifications, changes and revision in terms of the size, area,

    designs etc.

    I really don't want to sign this.


    When will you grow up .you should have asked for advice before you went ahead and booked the flat , now if you say that you dont want to sign this
    are they going to cancel your booking ? . think before you leap not after you have leaped
    CommentQuote
  • Re:

    The booking is not finialised yet. I haven't paid/sent the check for token amount yet. They want me to sign this contract before they finalize the booking.

    Please advise.
    CommentQuote
  • Originally Posted by sonu78
    Her is 1 more point from the LOC :

    I/We have gone through the tentative drawings of the proposed building and I/we are aware that being
    tentative plans, the same are subject to modifications, changes and revision in terms of the size, area,

    designs etc.

    I really don't want to sign this.


    Dear Sonu,

    As I understand, just like me, you are also a phase#1 investor in IB greens project. This (agreement to the changes / modifications in plans) is something which we have also signed while investing in IB greens project. If not, how do you think IB has done so many changes in site layouts, areas of the flats etc since their soft-launch in Sept'09?

    When you invest during the early stages of a township project like IB or HPG they always get you to sign this kind agreement, in order to gain flexibility while finalizing the plans. Our only concern should be that the changes / modifications must be in the direction of betterment of the project from the buyer's point of view.

    I had posted a little comparison of the two projects on the above grounds in one my previous posts on this thread (see pg#11 of this thread)..... Both of us being investors in IB, I don't have to tell you the history of random changes and lack of clarity in their plans that IB has given us so far. In fact they have not even floated their final site layout on their website, and if you are following the IB thread you must be knowing that this was changed almost 2-3 months back. On the other hand I have found HPG to be very much clear and transparent in their approach as far as finalizing the layouts are concerned.

    cheers
    B
    CommentQuote
  • Originally Posted by sonu78
    Hi Bushan,

    I just booked a flat in Claremont 2.5BHK 1499sqft. They want me to sign something called LOC and something what I read in there is little scary.

    Since you had the exact same building/ sq ft area area , did you also sign this LOC ?

    Please reply as soon as possible.

    Here are the some points from the LOC :


      I/We have gone through the tentative drawings of the proposed building and I/we are aware that being tentative plans, the same are subject to modifications, changes and revision in terms of the size, area,designs etc.I/We are aware that the residential flats in the said Hiranandani Palace Gardens, Panvel is in the nonprocessingzone of the SEZ and the same are subject to the Special Economic Zones Act, 2005 and the SEZ Rules, 2006. I/We am/are also aware that the construction/allotment of the said flats is subject to
      approvals from various statutory authorities including the Municipal and other local authorities.


      Its a known fact that HPG is an SEZ project. And for your information this is on a leased land, not on a freehold land. Lease is for 99yrs.

      Originally Posted by sonu78



        I/We agree that the rate applicable for the said flat shall be Rs. 3,950/- per sq. ft.. The total area of the flat shall be approx 1,499 sq ft. which includes carpet area and balcony, if any and common
        areas. I/We am/are also aware that in addition to the basic price, there will be additional sum of Rs. 25/- per sq. ft. per level rise payable by me/us, on account of level rise for each level of the
        building. I/We also understand that the total consideration amount may vary and the same is subject to approvals of the statutory authorities and the same may also vary depending on the
        modifications/changes/revision in terms of the size, area, designs of the flat. The details of the said consideration is mentioned in the Quotation dated ...


        Once you sign the agreement with the builder they cannot change the base rate. Variation in total consideration amount as mentioned above may happen due the modification of the area, which is highly unlikely since the floor layout of Claremont has already been finalized and construction has already begun as per the finalised layout.

        Originally Posted by sonu78


          I/ We agree that any liability arising out of Service Tax/Vat or any other taxes or Government Levies etc., as may be applicable from time to time, in respect of the above transaction, shall be to my/our account.




          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.

          This was probably not the part of my agreement, because when I invested in Feb'09 Service Tax / VAT was not in picture. This is expected to be levied by Government in near future, so recently, all builders have started this practice for all new bookings.
      CommentQuote
  • hpg,panvel carpet area.

    Originally Posted by iamgsprabhu
    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/old-habits-die-hard-carpet-area-remains-a-hype-that-govt-built-up/366208/

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

    Regards

    Dear
    U said they should charge according to carpet area,
    but as of date they charge on salebale area, superbuilt-up.
    can u guide.

    savvy_v

    Dear
    U said they should charge according to carpet area,
    but as of date they charge on salebale area, superbuilt-up.
    can u guide.

    savvy_v

    Dear
    U said they should charge according to carpet area,
    but as of date they charge on salebale area, superbuilt-up.
    can u guide.

    savvy_v

    Dear
    U said they should charge according to carpet area,
    but as of date they charge on salebale area, superbuilt-up.
    can u guide.

    savvy_v
    CommentQuote
  • Originally Posted by savvy_v
    Dear
    U said they should charge according to carpet area,
    but as of date they charge on salebale area, superbuilt-up.
    can u guide.

    savvy_v


    I somehow personally dont understand this issue of carpet area and super built up area. For me if the builder is selling at 4000 psf on superbuilt up area and there is a new rule for selling on carpet, he will just increase the price to 5600/- psf on carpet...so what is the big deal? We still end up paying the same as the builder is not going to compromise on his price just becoz of some rule change. Can someone who understands the deeper meaning kindly explain. Thanks
    CommentQuote