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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  • Since deals are done on built-up / super built-up areas, some creative builders have been known in the past to shortchange residents on the final delivered carpet area.

    If the deal is on carpet area, you should get exactly what you pay for.

    Hope that makes sense.


    Originally Posted by highrisemumbai
    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
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  • Thanks...that makes sense. Did not account for 'creative builders'.

    Originally Posted by quest4excellence
    Since deals are done on built-up / super built-up areas, some creative builders have been known in the past to shortchange residents on the final delivered carpet area.

    If the deal is on carpet area, you should get exactly what you pay for.

    Hope that makes sense.
    CommentQuote
  • bhushank4

    Hi B,
    Mail has been sent to u.
    savvy_v:bab (26):
    CommentQuote
  • HPG

    Hi all, any news about HPG whats happeneing there.
    ALl people sleeping or what in this threar!!!!!!!!!!!!!!!
    If u have any update plz im me.
    savvy_v:D
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  • The update i have is, sales office and show flat in first quarter of 2011.Plinth by Sep/Dec 2011.
    Construction of two commercial building in SEZ given to PUNJ Lloyd. The first building is supposed to come up this year and the next one next year.
    CommentQuote
  • Originally Posted by rajeshdube
    The update i have is, sales office and show flat in first quarter of 2011.Plinth by Sep/Dec 2011.
    Construction of two commercial building in SEZ given to PUNJ Lloyd. The first building is supposed to come up this year and the next one next year.


    What is their current rate?

    After the Airport proposal clearance have they increased anything?
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  • Originally Posted by chikkoo
    What is their current rate?

    After the Airport proposal clearance have they increased anything?


    They are still quoting 3950 psf. (that is no hike in base rate after airport clearance) checkout the allcheckdeals website:

    Original Booking in Hiranandani Palace Gardens, Panvel in Mumbai, Mumbai property, Mumbai Properties, Mumbai Real Estate, Mumbai property.

    But I think majority of the flats are sold out...
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  • I see that HPG had quite a few cancellations of bookings in september - December of 2010 (this comes from the inforamtion provided by one of the financing companies for the whole project, Hirco) so I was wondering what is the process if you have a booking and you want to either cancel it, or maybe sell it on to someone else in the secondary market.

    Probably the cancellations are NRI so transfer is difficult, but if you had an early booking then maybe you have already made good money and could cash in profits? Is this possible.

    My worry is that the cancellations are because some buyers have realised the prices are too high so getting out quick
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  • you are right about cancellation. But i think it was made up by new booking they had in oct-nov when they launched one new building.
    Based on my info, it is possible to sell near the current prices(you have to leave something on the table and commision).
    If you look at the investor report by Hirco PLC they have sold 85% of all available inventory, of which 56% is held by bulk investor(more than 6 unit).
    So big guys are puttting money.
    For me the price rise would make sense if they are able to attract big companies in SEZ. The silver lining being the commercial building (2 of them) will be ready before residential.
    All project in that area are now quoting around 4000, it would all make sense only if there are jobs around that would support that nos.
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  • All project in that area are now quoting around 4000, it would all make sense only if there are jobs around that would support that nos.

    In my view, In a longer terms this project can be benefitedrather than short term. As NMIA {Airport} has time to come in 15-20 yrs,by the time the prices might reach skyhigh even in PANVEL area,which can be predicted as central Hub connecting 6 roads from that place.
    Is ':bab (35):nt that make a sense in keeping investment rather than selling!!!!!!!.
    Savvy_v

    In my view, In a longer terms this project can be benefitedrather than short term. As NMIA {Airport} has time to come in 15-20 yrs,by the time the prices might reach skyhigh even in PANVEL area,which can be predicted as central Hub connecting 6 roads from that place.
    Is ':bab (35):nt that make a sense in keeping investment rather than selling!!!!!!!.
    Savvy_v
    CommentQuote
  • may be I'm bit late to ask this Q. I was looking for property in Ulwe n came across map of Navi Mumbai. I think this project and may be India Bulls n Marathon is not part of Navi Mumbai geography. Is my understanding correct?
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  • Originally Posted by bhushank4
    They are still quoting 3950 psf. (that is no hike in base rate after airport clearance) checkout the allcheckdeals website:

    Original Booking in Hiranandani Palace Gardens, Panvel in Mumbai, Mumbai property, Mumbai Properties, Mumbai Real Estate, Mumbai property.

    But I think majority of the flats are sold out...

    ________________________________________ ______________________________
    Hi Bhushan/Sr.Boarders,
    Hope you all are doing fine & Wish you all a very happy new year 2011.
    Needed to check if anyone has proceeded & completed the stamp duty / registration formalities for properties booked in HPG ?
    If yes, what's the additional cost that we need to bear ? thnx.
    AmateurREInvestor
    CommentQuote
  • Originally Posted by Amateur001
    ________________________________________ ______________________________
    Hi Bhushan/Sr.Boarders,
    Hope you all are doing fine & Wish you all a very happy new year 2011.
    Needed to check if anyone has proceeded & completed the stamp duty / registration formalities for properties booked in HPG ?
    If yes, what's the additional cost that we need to bear ? thnx.
    AmateurREInvestor


    St Duty / Regi is not yet done for any of the HPG bookings as yet....
    CommentQuote
  • Originally Posted by bhushank4
    St Duty / Regi is not yet done for any of the HPG bookings as yet....


    Oh Ok. Is it normal that St Duty / Regis is not completed almost after 2 years of booking a flat.. no right ?.. Ideally how long should one wait for completion of these formalities aftre booking of flat or it can be done anytime before the possession of the flat

    AmateurREInvestor.
    CommentQuote
  • Originally Posted by Amateur001
    Ideally how long should one wait for completion of these formalities aftre booking of flat or it can be done anytime before the possession of the flat

    AmateurREInvestor.


    i booked in Feb'09 so its still just below 2years... and when I made my booking, this project had just been in "soft launched".
    it depends on which stage of the project you book your flat, the chances are more to get your st duty / regis done faster if you book it after completion of plinth.
    I am expecting 1. 2completion of plinth (fr the ph#1 bldgs of HPG) somewhere in first quarter of 2011 and 2. st duty and regis before the end of yr'11.
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