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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  • Originally Posted by kalbinder
    Hi Guys,

    I am new to this thread. Firstly, i have enquired about the leasehold and its in perpetuity - and renewable after 99 years at no cost - i believe SEZ rules do not permit freehold ownership; stand to be corrected if i am wrong or have been spun a yarn!

    My concern is that formal contracts are not issued for at least six months but we are expected to pay 20% - this to my mind is not very good!

    As anybody been to the site lately to see how things are progressing?

    Anybody know who has been engaged to build the towers - is it L and T?

    look forward to some interesting discussions!


    Kalbinder

    Welcome to the thread...
    Your information about leasehold and 'SEZ rule' is absolutely right.
    20% upfront payment is quite common nowadays, and Hirco is very particular about giving you the Provisional allotment letter (PAL) in stipulated time which freezes any further changes in cost or specs (like carpet area, super builtup area, floor layout etc etc) of your flat.
    Don't know about the construction contractor, but construction updates are available on Hiranandani Palace Gardens - HPG Panvel - Mumbai
    They normally upload new actual pictures from site every six months, under the construction updates section and if you scroll back a couple of pages in this thread I have posted the tentative construction schedule for phase#1 buildings as given by Hirco. Looking at the current status of the project, I believe they will complete the project well in-time.

    cheers
    B
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  • Originally Posted by kalbinder
    Hi Guys,

    I am new to this thread. Firstly, i have enquired about the leasehold and its in perpetuity - and renewable after 99 years at no cost - i believe SEZ rules do not permit freehold ownership; stand to be corrected if i am wrong or have been spun a yarn!

    My concern is that formal contracts are not issued for at least six months but we are expected to pay 20% - this to my mind is not very good!

    As anybody been to the site lately to see how things are progressing?

    Anybody know who has been engaged to build the towers - is it L and T?

    look forward to some interesting discussions!


    Good Morning kalbinder.
    Ur query is legitimate:),but as of now;
    1] Do u mean that a realator shall take ur money 20 % Uppayement & then forget u....?
    2] Do u think that if u pay ur uppayement of 20 % u shall be SOUPed ,and promises shall not be kept by realator.?
    3] Do u feel that 20 % payemet is not necessary...? and then on what basis u shall get a contract ...?

    I fully agree with u about whether 20 % uppayement is agreed/necessary /must /required or essential or NOT?
    But the big question is , HIRCO,{HPG},needs assurance from u to book a property flat on ur name.
    Then they shall be assured that the client is ready to go,and subsequently the process of PAL/FAL {Provisional allotment & final allotment letter},be ready.
    I am an investor in HIRCO/HPG,and i dont find its wrongdoing in booking a flat with 20 % uppayemet.
    I n facts i am sure that things shall run smooth.
    Also there is fact that u are paying this in cheques,so no hanky pankiness.
    Ur second point of CONSTRUCTION update;As told by Bhushan u can view the CONST-update on website.
    I am sure construction quality shall be as superior as their Powai project ,in fact might be better than the one used in powai.
    As far as SEZ-99 years property lot has been discused about .

    regards,
    cheers
    savvy_v
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  • follow up

    Thanks for the prompt response guys, much appreciated.
    I am informed that all towers are pretty much sold out now (of those already launched) and only a few units remain in each - this is good to see as an investor - we can be sure that we are not going to have a Dubai situation on our hands whereby money is collected from the "few punters" then nothing happens/construction that is!!

    Does anybody know if the proposed golf course has actually been finalised yet?
    As the basis of my investment decision was to have a view of the golf course!

    It will be good to keep in touch.

    Thanks again!
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  • Where is the new golf course proposed? I thought there is one in Khar near Central Park. Is there any other such project? Can you share the link confirming this?
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  • Originally Posted by kalbinder
    Thanks for the prompt response guys, much appreciated.
    I am informed that all towers are pretty much sold out now (of those already launched) and only a few units remain in each - this is good to see as an investor - we can be sure that we are not going to have a Dubai situation on our hands whereby money is collected from the "few punters" then nothing happens/construction that is!!

    Does anybody know if the proposed golf course has actually been finalised yet?
    As the basis of my investment decision was to have a view of the golf course!

    It will be good to keep in touch.

    Thanks again!


    I haven't heard anything as yet abt the golf course..... neither does it reflect on the site plan that I have (last updated in Oct'10)
    just out of curiosity - in which tower have you bought ur flat in HPG - Panvel and do you have new site plan in which golf course is shown??
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  • golf course

    I was informed that the golf course would be immediately behind the Club House - opposite the towers Mellona, Helios and Hermes. Adjacent to the Club House will be a JW Marriott Hotel. On my map/diagram they are marked as number 3 "Future Developement" - but i am informed that is the idea! - whether it comes to fruition is another matter - but surely this should add good value - and be a wonderful lifestyle idea!

    No doubt - the implementation of such will increase/uplift the future value of other towers released - and whilst being great for the resident it is also a great sales angle and revenue stream for HIRCO in the future.

    THe bigger picture is to get big Corporates to move in - the added attraction of the golf course would surely win their vote - an idela place for team building and other excercises.

    I will let you have more information once i hear anything - but we should push for this!!
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  • Is the token amount paid considered to be black before signing the stamp paper ?

    Lower stamp duties can check corruption in real estate: PM

    Terming stamp duties as a "big obstacle" in ensuring transparent transactions in real estate, Prime Minister Manmohan Singh today batted for reducing such levies to check the flow of black money in the sector.

    "I think as far as black money in real estate is concerned, unfortunately that is a reality and one way out of this would be to lower the stamp duties," Singh said at the India Today Conclave here.
    Replying to a poser on black money transactions in the real estate sector, the Prime Minister said stamp duties in the country are a "big obstacle to cleaning the mess with regard to transactions in real estate.

    "So that's one way in which we can work towards a system whereby black money would be less of a menace in transactions relating to real estate."
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  • Agreement

    Is any of the HPG buyers been called for agreement?
    As per the last update agreement is scheduled in Apr-May'11 for phase#1 buyers.
    Kindly update on this forum.
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  • Originally Posted by bhushank4
    Is any of the HPG buyers been called for agreement?
    As per the last update agreement is scheduled in Apr-May'11 for phase#1 buyers.
    Kindly update on this forum.


    Hi Bhushan.
    Nice to see u after long time!!!!.
    As far as I know , & updated; The Agreement update can be in the near 2 months for first 10 bldg.
    For my side i.e.in VENUS its expected PLINTH is DEC 2011.
    I was told that construction is in full swing...
    As per earlier gentleman's POST;
    True that they are planning for the Gold club on the hilside on back of the CLUB house. But its in plan mode.....
    Take care & be in touch....
    Savvy_v
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  • Originally Posted by bhushank4
    Is any of the HPG buyers been called for agreement?
    As per the last update agreement is scheduled in Apr-May'11 for phase#1 buyers.
    Kindly update on this forum.


    Not yet.. Frankly speaking, I am waiting for someone to call :)
    For the agreement, I will be asking them once they give me a call as I intend to finish off on the Stamp Paper & Registration/Agreement formalities as soon as possible. Don't wanna keep it pending any longer... Let's see how it goes & what does the HIRCO guys have to say on this...! Keep you guys posted there.. Have fun & Enjoy Life :) !!!
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  • Originally Posted by savvy_v
    Hi Bhushan.
    Nice to see u after long time!!!!.
    As far as I know , & updated; The Agreement update can be in the near 2 months for first 10 bldg.
    For my side i.e.in VENUS its expected PLINTH is DEC 2011.
    I was told that construction is in full swing...
    As per earlier gentleman's POST;
    True that they are planning for the Gold club on the hilside on back of the CLUB house. But its in plan mode.....
    Take care & be in touch....
    Savvy_v


    Good to hear about the Golf Club Planning in progress.. Hope this gets implemented :)
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  • New Construction Update Pics uploaded in Apr'11

    New pics have been uploaded on Hiranandani Palace Gardens - HPG Panvel - Mumbai website under "construction updates" section.
    The Main entrance gate structures and Office building seems to be almost complete...
    Most of the phase#1 buildings' foundations have been laid... and excavation has begun for commercial buildings.

    enjoy...
    B
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  • Has anyone availed bank loan for this project. If yes then please help me regarding this process of availing bank loan
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  • Commercial space

    Hi All,

    I am interested in buying commercial space in HPG. Could any of you please help me? Has the booking for commercial space already started? If so at what rate?

    Regards
    Abhishek
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  • Originally Posted by savvy_v
    Dear B
    what I guess from you is that
    1] The 20 % earnest money inculding the booking amount is paid by us.
    2] Next step is 20 %; that is plinth,which in ur case might be April 2011.{for the first 11 buildings}
    3] People who wants to take a loan for the Plinth onwards stage needs to get a Allotment letter by company as well as a formal agreeement letter ,i assume that it can be a PAL{provisional allotment letter}.
    4] in case people approaching the bank for the loan facility,the buyer needs to get loan approved on the basis of PAL,and according to the earlier post I presume that the bank shall insists on a registered aggrement on the buyer's name before sanctioning/disbursing the loan..
    5] In that case to approve the loan what i feel is that PAL is sufficient to make/disburse the loan of the amount requested by the buyer.
    6] In my case the reply from the relationship manager is this'
    "The operations team is dispatching the PAL building wise to all the customers. The PAL for Verona (– new name Venus) will be dispatched in a month’s time. PAL for first 11 buildings will be dispatched first as the construction has already started for these buildings."

    I would presume that for a flat booked in Venus-earlier VERONA,i expect the PAL be ready in mths time.
    This is latest from them.
    regards,
    cheers.:D
    savvy_v


    I have been hearing about getting PAL in a few weeks time in phase manner since few months now. So even if we make the payment for the Plinth and we do not see the PAL then i will be time for the next installment for the slab and so on so forth.
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