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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
    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 ...
    BY 2020, hopefully all will be settled i feel, so as Malkotia said, we may either get TIRED by that time or we may get RETIRED or BOWELED OUT......

    savvy_v

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

      hey guys,

      spoke to my RM .. didn't have any details from management regarding the article ...
      ground clearance work on Phase2 in progress .. expecting a Phase 2 construction schedule post monsoon in a couple of months ..

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

        This project is part of their core portfolio - any idea how they are expected to start work (let alone complete) when they dont have funds to go ahead.
        Last edited July 30 2013, 12:23 PM.

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

          Originally posted by vikas123 View Post
          hey guys,

          spoke to my RM .. didn't have any details from management regarding the article ...
          ground clearance work on Phase2 in progress .. expecting a Phase 2 construction schedule post monsoon in a couple of months ..
          This Phase 2 digging is to extract Plinth amount from customers to repay their debt....Management needs to come clean on the news article....as both JV and Niranjan are washing their hands off......there is a big question mark as to who is controlling this project...

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

            One of the buyers of this project should try and ask what is the approach if they want to cancel their booking right now and then they will hear the real story from Hira.

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

              Originally posted by rsrsin View Post
              One of the buyers of this project should try and ask what is the approach if they want to cancel their booking right now and then they will hear the real story from Hira.
              They are asking for a 17.5% penalty for cancellation rather than paying interest. We should hire an advocate and take action. As real buyer said phase 2 digging is to extract more money to use free money to come out of their shit

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

                Originally posted by malkotia View Post
                They are asking for a 17.5% penalty for cancellation rather than paying interest. We should hire an advocate and take action. As real buyer said phase 2 digging is to extract more money to use free money to come out of their shit
                Honestly, given that there is so much of water flowing under the brigde with these guy & the mess that is out in the open - it may make logical sense to take the refund even with the 17% cut if the quantum of cut is not very high in absolute figure.

                Fighting legal is the legal right, but one may end up standing in the queue of the creditors to receive any refund at all - not counting the legal expenses and the elongated decision period.

                Probably, taking the refund and thanking stars that it was not a total loss maybe a more tactical approach.

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

                  Begining construction of the buildings to meet their financial obligations .. i have no problem with that ..
                  It's what we all ( genuine buyers ) had been looking forward to ..
                  I'm assuming they won't be the first in the business to be following this very basic business model : )

                  There clearly will be an impact of this news .. hoping we get more clarity in the next few days.

                  Putting the unit up for sale might be a better option than cancellation for those who are past their 2 yr holding period ..

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

                    Airport is happening.

                    It wont be wise to sell now that the good news are started picking.
                    Prime Ministers office has put a deadline on contract start/award with regular monitoring.
                    Its an election year next year. I am sure they would want to get started with this to
                    showcase.

                    Three Mumbai projects on PM's fast-track list - The Times of India

                    Navi Mumbai airport.........................January 31

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

                      Originally posted by bkhote View Post
                      It wont be wise to sell now that the good news are started picking.
                      Prime Ministers office has put a deadline on contract start/award with regular monitoring.
                      Its an election year next year. I am sure they would want to get started with this to
                      showcase.

                      Three Mumbai projects on PM's fast-track list - The Times of India

                      Navi Mumbai airport.........................January 31
                      I wouldn't surprise, it could be Jan 2031....

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