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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 malkotia View Post
    Thanks Vinchi, from where did you get this information?

    So do we have to make payment for Plinth completion from our own funds and then get the apartment registered or Hirco will complete the Plinth, send a note to us and then we can get the apartment registered in our name and get funding from bank for Plinth completion demand ..
    Malkotia.

    Here ur answer.
    As I studied this project well in advance, I don't have to bother for my funds... Well articulated .
    Anyways. To guide you further;

    1. When we can/need to do Registration & stamp duty for our flat PHASE-2 Before/after plinth charges?[] - the Agreement can be registered once the Plinth level is constructed....... We cannot register the apartment prior to the construction reaching Plinth Level.{ SO construction has to reach till PLINTH LEVEL.U CANT AVAIL LOAN BEFORE REGISTRATION,as SIMPLE AS THAT}
    2. Samp duty & reg charges for PHASE-2 in General ,so as to arrange funds.[] - Stamp duty amount Rs. 376,000/-, Registration Amount Rs. 30,000/- ROUGHLY
    3. Required documents for this.[] - The documents you need to carry at the time of Registration would be:
    · PAN card (original and a photocopy of each applicant)
    · 2 passport size photographs each.
    · Rs. 5000/- cash (per apartment) for miscellaneous !!!!!!expenses. dont know whats miscle on that .· Registration Demand Draft.


    Hope this suffice ur answer.
    Savvy_v

    Comment


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

      Originally posted by savvy_v View Post
      Malkotia.

      Here ur answer.
      As I studied this project well in advance, I don't have to bother for my funds... Well articulated .
      Anyways. To guide you further;

      1. When we can/need to do Registration & stamp duty for our flat PHASE-2 Before/after plinth charges?[] - the Agreement can be registered once the Plinth level is constructed....... We cannot register the apartment prior to the construction reaching Plinth Level.{ SO construction has to reach till PLINTH LEVEL.U CANT AVAIL LOAN BEFORE REGISTRATION,as SIMPLE AS THAT}
      2. Samp duty & reg charges for PHASE-2 in General ,so as to arrange funds.[] - Stamp duty amount Rs. 376,000/-, Registration Amount Rs. 30,000/- ROUGHLY
      3. Required documents for this.[] - The documents you need to carry at the time of Registration would be:
      · PAN card (original and a photocopy of each applicant)
      · 2 passport size photographs each.
      · Rs. 5000/- cash (per apartment) for miscellaneous !!!!!!expenses. dont know whats miscle on that .· Registration Demand Draft.


      Hope this suffice ur answer.
      Savvy_v
      Thanks Savvy it is very useful information.

      My question is: The next demand for payment will be on completion of Plinth and on completion of Plinth only I will be able to register my apartment and apply for loan. Now the main query is will I have sufficient time after demand notice to get all these things done and get the loan disbursed so that the payment for "Plinth Completion" can be done through loan disbursement, or do I have to pay amount towards Plinth Completion from own fund only and subsequent installment can come from loan funding...

      Comment


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

        Originally posted by malkotia View Post
        Thanks Savvy it is very useful information.

        My question is: The next demand for payment will be on completion of Plinth and on completion of Plinth only I will be able to register my apartment and apply for loan. Now the main query is will I have sufficient time after demand notice to get all these things done and get the loan disbursed so that the payment for "Plinth Completion" can be done through loan disbursement, or do I have to pay amount towards Plinth Completion from own fund only and subsequent installment can come from loan funding...

        MALKOTIA

        I would advise you to c/w RM of your building ; I PRESUME SELENE.... for this.
        But categorically if u ask me;
        my answer wud be.

        1] We paid 20 % by now.
        PAYMENT SCHEDULE works as folow;
        Particulars
        Token Amount -
        Earnest Payment -
        On completion of Plinth-
        30 Installments for Slabs-
        On Possession-
        Amenities & Other Charges-
        Total-
        Amount (Rs.)-

        So in ur case REVISE ur PAYMENT PLAN.

        I suggest;
        PLAN A
        1] Keep funds READY FOR PLINTH....... EXPECTED TIME as I GUESS: MID FEB 2014.
        2] IF U ARE NRI. & have some funds kept as FDR. Then take LOAN on ur fixed deposit.
        3] & repay from where ur working source salary... in installments every month.

        PLAN:B
        IF NOT NRI : PLINTH MONEY IS HIGH I guess 14-16 laks.... so suddenly mobilizing this money is KEY ISSUE.
        GAP BETWEEN PLINTH & INSTALLMENT FOR HIGHER FLOORS WUD BE 2 mths .
        WOULD BE Good for you to REGISTER FLAT/AVAIL LOAN/& Keep paying Installment for rest demand notes......

        WHICH PLAN SUFFICE U BEST LOOK IN TO IT.
        Hope this suffice u.

        PLEASE NOTE:
        As soon as they start with digging and excavation work for your building only then they will be able to give you the tentative dates for Plinth construction and Slabs.
        THEN they be asking for the payment of 20%, I PRESUME tentatively by the MID FEB March 2014

        However, to update you on the slab construction..... each slab will be completed in 15 days and accordingly the demand notes will be raised every 15 days... but the payment tenure for each slab will be 21 days.

        They will update you with a month in advance for the same.


        FOR SLAB INSTALLMENTS;


        With regards to the payments of demand note., for e.g. if the demand note is called on 01/Jan/2014, the no. of days for the payment of that particular slab will be 21/Jan/2014.
        But the next demand note will be sent on 15/Jan/2014 and the no. of days for the payment of that particular slab will be 21 days and so on.
        So u can order your bank to desburse loan as needed ...


        Hope this clarifies your concerns.

        Savvy_v
        Last edited July 27 2013, 02:51 PM.

        Comment


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

          Originally posted by vinchi View Post
          Hi Shrikantmaha,
          My two cents sorry all my cent,preserve the hair which u have,if u invest then u may have to pull ur own hair out.
          So plz pay 150rs to the barber every month for the haircut.
          I was so proud when I initially bought,i feel ashamed to tell anyone now. good luck
          Vinchi you are absolutely right....
          If you read the article that i have shared then better stay away from this project

          "The petition claims that Hiranandani Palace Gardens is under financial stress and is unable to meet creditor's liabilities."
          "It alleges further that the company has misrepresented facts while availing the term loan."

          If these guys can produce false info to Tata Capital then i don't see any point in believing on info provided by their customer care...whatever points that i raised have been proved right

          Comment


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

            Originally posted by realebuyer View Post
            Vinchi you are absolutely right....
            If you read the article that i have shared then better stay away from this project

            "The petition claims that Hiranandani Palace Gardens is under financial stress and is unable to meet creditor's liabilities."
            "It alleges further that the company has misrepresented facts while availing the term loan."

            If these guys can produce false info to Tata Capital then i don't see any point in believing on info provided by their customer care...whatever points that i raised have been proved right
            REAL
            Also its says;

            "
            Niranjan Hiranandani, the former chairman of Hirco, in his response to ET's query, said he has not been connected with Hiranandani Palace Gardens since his resignation from Hirco.

            & Also it says...

            Hiranandani added that he has in fact made an offer to buy out the project companies and the lenders. This offer is under consideration by the board of Hirco Group, he added. Hiranandani, however, declined to comment on his current holding in the company promoted by Hiranandani Group. "Hiranandani Palace Gardens has been in touch with Tata Capital Financial Services for amicably settling the part default of loan, and this will be settled soon," said a spokesperson of Hiranandani Palace Gardens.


            FYI.
            savvy_v

            Comment


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

              Originally posted by realebuyer View Post
              Vinchi you are absolutely right....
              If you read the article that i have shared then better stay away from this project

              "The petition claims that Hiranandani Palace Gardens is under financial stress and is unable to meet creditor's liabilities."
              "It alleges further that the company has misrepresented facts while availing the term loan."

              If these guys can produce false info to Tata Capital then i don't see any point in believing on info provided by their customer care...whatever points that i raised have been proved right
              Agree 100% ..we ourselves are suffering and do not want others to suffer

              Comment


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

                Originally posted by vinchi View Post
                Hi Shrikantmaha,
                My two cents sorry all my cent,preserve the hair which u have,if u invest then u may have to pull ur own hair out.
                So plz pay 150rs to the barber every month for the haircut.
                I was so proud when I initially bought,i feel ashamed to tell anyone now. good luck
                Hi Vinchi,
                Thanks for sharing your thoughts. What was your expectation when you invested in this project. Am looking for at around 4-5 years to expect good returns (around 40%) on this. Am not an NRI as such but looking for long term investment. At later stage (after 6-8 yrs) may think of living there. AT present there are hunderds of project in Panvel and looks like this is growing fast comapred to Kharghar and other Navi Mumbai suburbs.

                Comment


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

                  Hi! I really do not believe that the Airport project is really to be worried but still for the forum users, would thought to share this piece of info.
                  Green panel clears Navi Mumbai airport - Mumbai - DNA

                  Comment


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

                    Originally posted by shrikantmaha View Post
                    Hi! I really do not believe that the Airport project is really to be worried but still for the forum users, would thought to share this piece of info.
                    Green panel clears Navi Mumbai airport - Mumbai - DNA
                    Dear Shri.
                    Its Great NEws, we wanting to see ,and wil be delivered to people of INDIA,as need of time.
                    Only thing PMO should realize that it finish in time,and contract can be given to people who are non corrupt-and has high class background.
                    Dont want next COMMON WEALTH issue here...
                    Happy to note
                    "
                    The project has also been on the radar of the Prime Minister’s Office (PMO) which is trying to address prolonged delay in key infrastructure projects across the country. It is also reportedly one of the projects for which the PMO has reportedly set deadlines for award of contract.
                    The estimated cost of the project, when envisaged, was under Rs5,000 crore but today it is well over Rs10,000 crore. It is expected to generate direct and indirect employment of 90,000 each."


                    May be this is an ELECTION MOVE by INC.....


                    savvy_v

                    Comment


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

                      Originally posted by shrikantmaha View Post
                      Hi! I really do not believe that the Airport project is really to be worried but still for the forum users, would thought to share this piece of info.
                      Green panel clears Navi Mumbai airport - Mumbai - DNA
                      Such news items have been coming up since 2007 and reading such news only we all we lured to HIRCO. Whenever there is some negativity in market, they publish some vague news like this ... there is no commitment in the news ...

                      Land acquisition which is probably the first thing to happen is not complete
                      Environment clearance not available
                      plan for additional mangrove plants in lieu of those getting destroyed as part of land acquisition not complete
                      Request for bidding process not started .....Let us hope our kids (grand kids) based on one's age ..will see this airport sometime ...

                      Comment

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