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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

    And if someone really goes to google maps and searches for the words I provided in my previous post, then you can see in close proximity Dhirubhai Ambani hospital and Reliance colony.

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

      What is the difference between the two ? Your 2nd statement if true should be even more concerning for investors in this project

      Originally posted by vikas123 View Post
      Reale,

      You are mixing up Hirco PLC and Hirco India at will .. Keep in mind that Hirco PLC has clearly stated that they have very limited visibility of what is happening on the ground.

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

        Originally posted by realebuyer View Post
        Mr. Bhushan this is for you....well written by simsagar on darker side of Hira.....also to add some of the new buildings in Hira Powai do not have OC....hope u know this
        Dear realebuyer,

        Most of us on this forum are investors who are not looking forward to move-into their apartments in HPG as soon as their flats are ready (whatever be the real date of completion). Thats why I think delays in obtaining OCs might not actually affect most of us.

        Legally, the authorities that have approved registration of the flats in a particular building, have to provide OC for that building. It is as simple as that. Being a phase#1 investor I know that most of the flat-buyers who have invested in phase#1 buildings, including myself have successfully registered their flats with the local authorities.

        Last but not least lets not compare two different projects of Hiranandani's here on this thread (HPG Panvel) because it will be a waste of everybody's time. I have repeatedly requested in my previous posts that we should keep our comments limited to this project because only that will lead to a fruitful discussion and also save our time and energy. Being an individual owner of my flat in this project I care about the successful completion of this project. I don't wish to waste my time thinking about each and every project that Hira executed till date. Nevertheless I don't deny that the past projects by Hira could be used as measure of their ability to execute the projects successfully and looking at Hira Powai, I am more than impressed about the same which is also one of the reasons why I invested in HPG.

        cheers
        B

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

          Hi Rohu,

          Check out the posts by "vestore" starting on Page 115 of this thread to get the context .
          Also check out the link reale posted earlier Hirco Hirco plc Annual Financial Report for additional info ..

          Enjoy!!

          Originally posted by rohu01 View Post
          What is the difference between the two ? Your 2nd statement if true should be even more concerning for investors in this project

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

            Originally posted by vikas123 View Post
            Reale,

            You are mixing up Hirco PLC and Hirco India at will .. Keep in mind that Hirco PLC has clearly stated that they have very limited visibility of what is happening on the ground.

            Savy is hopeful of a Jan '14 timeframe, the official word last i was told is mid-2014. Hirco PLC says it's Nov '15. If the work is progressing as Savvy has been told, it'll probably be sooner than Nov 15.

            You again refuse to share your sources other than saying i know for sure ..

            Hirco PLC share price is down .. agreed .. I do not think we have a full comprehension of how that impacts Hirco India due to the elaborate corporate structure that has been put in place.

            SEZ modalities may need to be worked out .. agreed .. Work stopped because of it .. thats again conjecture.

            Being downgraded is totally different from defaulting on loans i think .. that they were going to be downgraded or have been defaulting on their loans is again conjecture on your part .. These are loose statements to be making in my opinion if you can't back them up.

            Enjoy !!
            Vikas you are getting confused, there is no such thing as HIRCO India.
            All the money used in buying land and construction is nothing but HIRCO PLC's money.....the companies in india are nothing but consultants who are carrying out work for HIRCO PLC....there is no revenue generation model for these consultant companies...they are completely dependent upon HIRCO PLC for funds....I m sorry but there is no corporate structure here...primary motto for Niranjan was to show losses in these projects and lower the valuation of HIRCO PLC and then buy it out at low price....which of course he tried but was not successful....instead he was dragged to court by HIRCO Investors who were never paid any interest and dividends on their investment.....in short at this point no one is ready to put any money into this project......even vestore said the same thing....if HIRCO PLC gets control of the project then there is a chance that project will start and be completed quickly....which will not be the case with Hiranandanis......Hubtown and HDIL were two companies whose ratings were suspended and after a month there was news in ET that both have defaulted on their NCD's.....it came in paper as both were listed entities and they had an impact on the stock market.....as far as Hirco goes it will never come in newspaper as no one cares...

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

              Originally posted by realebuyer View Post
              ..Hubtown and HDIL were two companies whose ratings were suspended and after a month there was news in ET that both have defaulted on their NCD's...
              Wrong on three counts:
              1. Their ratings were downgraded and not suspended.
              2. They defaulted on the interest on NCDs and not on the NCDs themselves.
              3. The ratings were downgraded AFTER the default.

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

                Originally posted by realebuyer View Post
                Vikas you are getting confused, there is no such thing as HIRCO India.
                All the money used in buying land and construction is nothing but HIRCO PLC's money.....the companies in india are nothing but consultants who are carrying out work for HIRCO PLC....there is no revenue generation model for these consultant companies...they are completely dependent upon HIRCO PLC for funds....I m sorry but there is no corporate structure here...primary motto for Niranjan was to show losses in these projects and lower the valuation of HIRCO PLC and then buy it out at low price....which of course he tried but was not successful....instead he was dragged to court by HIRCO Investors who were never paid any interest and dividends on their investment.....in short at this point no one is ready to put any money into this project......even vestore said the same thing....if HIRCO PLC gets control of the project then there is a chance that project will start and be completed quickly....which will not be the case with Hiranandanis......Hubtown and HDIL were two companies whose ratings were suspended and after a month there was news in ET that both have defaulted on their NCD's.....it came in paper as both were listed entities and they had an impact on the stock market.....as far as Hirco goes it will never come in newspaper as no one cares...

                Real



                Can u clarify on this.
                1. Its Hirco PLZ who has defaulted Niranjan in longer terms in order to raise share prices,and benefit their share holders...
                1. Do u mean Sunny Vista has not done any agreement with HIRCO PLC, for their ,and also their COMERCIAL &RESIDENTIA PROJECTS to be implemented in scrutinised manner in Chennai & PANVEL.
                1. What's ur take where this in fighting between Hirco & Hira family will end up to.
                1. Do u think? Hira must be having strong uphold ,as he has also challenged HIRCO PLC in Court of law. Who will win will matter for us , or HIRCO PLC getting this owned and continued with their projects will suite us.
                1. In Feb 13 2013 court case is on..... How long it will hang on,& how long it will cater to give possession for PHASE-1 Buyers...../Investors.
                1. What's foresee u see with challenge of buying HPG through HIRCO PLC, if hirco pulls out his foot in the interest of BUYERS.... and if so.... will HIRA will able to complete these projects with SEZ policy and full fill commitments of buyers.....in long terms.
                1. When Investors invested, they invested in SUNNY VISTA PVT LTD, which is still a company hold by Niranajan,and also on board given permission for SEZ.
                1. This Sunny vista project is being implemented by HIRCO PLC, with help of national RE company agents like NIRANJAN's company.
                1. TO my Knowledge, HIRCO plc, cant build any SEZ projects on their own in INDIA, they have to have their strategic partners to run & invest according to clauses of INDIAN SEZ.
                1. If Hirco feels he will enhance and make their shareholders very happy in holding Niranjan in court of ISLE of MAN,under british LAW, I feel he is doing a great mistake in delaying project as well as delaying the shareholders dividents,and also making HIRCO PLZ name & rating down in market.
                1. In my view Laws pertaining in INDIA for building SEZ through SUNNY VISTA have nothing to do withs hare holder business & its rating for HIRCO.
                1. Hirco PLC is individual company and has to abide laws of SEZ.
                Also When Investors & Buyers invested in HPG Project or In Chennai project,they have invested in HPG stated SUNNY VISTA.
                So do u mean HPG will not pull up HIS SOCKS on its own, if HIRANANDANI loose case..?
                Plz see on this SUNNY VISTA IS STILL CONSIDERED AS SEZ SANCTIONING PLANNER.
                SEZ India: SEZ in Maharashtra, Mumbai, Pune, Nagpur, Aurangabad

                hope u feedback me
                savvy_v
                Last edited April 24 2013, 10:49 AM.

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

                  Originally posted by gautam620 View Post
                  Wrong on three counts:
                  1. Their ratings were downgraded and not suspended.
                  2. They defaulted on the interest on NCDs and not on the NCDs themselves.
                  3. The ratings were downgraded AFTER the default.
                  thanks for correcting me...
                  In case of Hubtown it was Brickwork which issued a downgrade as they defaulted both Principal and Interest but it was CARE who suspended their ratings.....in this case there was a clarification from Reliance Capital that they never faced any delays from Hubtown....in case of Hubtown it was 100 cr

                  in case of HDIL it was CARE who downgraded their rating to junk.....
                  Last edited April 24 2013, 11:14 AM.

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

                    Originally posted by savvy_v View Post
                    Have u written mail to them & what was ur response?
                    Have u asked them by phone anything till now?
                    when u will be available in Mumbai or u still in OOI.
                    Savvy...over phone they say same thing as you have updated on your post ...email reply never comes ....?

                    On phone they will probably will even make me owner of Hirnanndani ..

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

                      Originally posted by p_satiani View Post
                      And if someone really goes to google maps and searches for the words I provided in my previous post, then you can see in close proximity Dhirubhai Ambani hospital and Reliance colony.
                      Reliance has a big factory there and their hospital and Reliance colony is in their township... even if you go to remotest of plants anywhere in country you will find these townships as otherwise people working there will not have anywhere to go for their daily needs...There have to be new employment generation and infrastructure development for the area to pick up ...Airport would have triggered both of these...Kandivili and Borivili were connected by local train even 15 years back my friend and people were able to live their and commute to their work on daily basis from these locations..so there is no parallel at least at the moment

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