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 AllIsWell
    bhushank4

    i have approached some of the banks mentioned in the list. They do say that the project is approved. But they cannot issue checks unless we have the registration, and to be able to do registration, seems like there are still some pending legal issue from Hirco. Still some paper work is pending and Hirco says they would need a fews more days to sort that out. So list of banks is no useful unless we have registration / allotment letter and other legal paper work from Hirco


    Have you received the demand note yet? I think they are only sending out 2nd demand notes to those who have already received PALs. Yesterday I personally enquired whether PAL is sufficient to apply for the home loan and the answer from the LIC Housing Finance guy was affirmative.
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  • No i did not get PAL yet. Hirco says a few more days. Though i have already been given a demand note to make my 20% installment by 7th June. This is not done, no PAL or any legal agreement but i get a demand note for next installment.
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  • Hi Guys,

    How does one get a loan if they are not providing the required pieces of paper, does this mean every one shall buy the property without a loan?

    And what is this PAL ( sorry for the ignorance) is it a formal letter from HIRCO, because I have had no letter from them just receipts of payments and a demand now for 20% plinth. Is this valid.


    re,
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  • Originally Posted by AllIsWell
    No i did not get PAL yet. Hirco says a few more days. Though i have already been given a demand note to make my 20% installment by 7th June. This is not done, no PAL or any legal agreement but i get a demand note for next installment.


    In that case you do have a reason for not paying the next 20%. You can always argue that only if you receive the PAL / registration only then you will be able to apply for the loan and pay-off the next 20% amount. Contact your relationship manager. Please let us know what is their reaction....
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  • Originally Posted by ccie2b
    Hi Guys,

    How does one get a loan if they are not providing the required pieces of paper, does this mean every one shall buy the property without a loan?

    And what is this PAL ( sorry for the ignorance) is it a formal letter from HIRCO, because I have had no letter from them just receipts of payments and a demand now for 20% plinth. Is this valid.


    re,


    Its not fair on the part of HIRCO to demand 20% plinth from you without providing you with the Provisional Allotment Letter (PAL), which a formal document declaring that the allotment of the flat to you and also it freezes the saleable area (builder cannot change the super builtup area after PAL) and the per sq ft rate.
    You should call your relationship manager and complain about not being provided with PAL, because without PAL you cannot apply for the home loan.

    cheers
    B
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  • Hi Guys,

    Please let me and others know ( Bhusank) who have received the PAL.
    Can one post a copy removing all personel information ... to get an idea
    as to what we are expecting? ( if possible)

    re,
    CommentQuote
  • Originally Posted by bhushank4
    Its not fair on the part of HIRCO to demand 20% plinth from you without providing you with the Provisional Allotment Letter (PAL), which a formal document declaring that the allotment of the flat to you and also it freezes the saleable area (builder cannot change the super builtup area after PAL) and the per sq ft rate.
    You should call your relationship manager and complain about not being provided with PAL, because without PAL you cannot apply for the home loan.

    cheers
    B


    I am not sure what Hirco is doing here but getting them to send a PAL is getting more and more difficult by the day. I am get the same pet answer a few more days eveytime i ask about PAL since last 2-3 months now. It make me feel a bit nervous, that i am paying them money without any legal paper work. We need to safe guard our interest as well.
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  • You need to actually visit powai office to get things done, is what i have seen
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  • Questtion About PAL (Bhishan pls. reply)

    Hi Bhushan,

    I am in the same building as your's (Aura) HIranandani Panvel.

    I haven't received my PAL yet, I also received Plinth note for June 7th.

    Can You please let me know how can we expediate receiving for PAL. I have read other people on the forum mention that you can go directrly to Hiranandani office in Powai.

    Please let me know how did you expediate your PAL.

    If anybody else can tell me the contact details where we can expediate the PAL since I have to apply for Loan since the plinth stage.

    Your quick response is appreciated

    Thanks,
    Sonu
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  • Originally Posted by sonu78
    Hi Bhushan,

    I am in the same building as your's (Aura) HIranandani Panvel.

    I haven't received my PAL yet, I also received Plinth note for June 7th.

    Can You please let me know how can we expediate receiving for PAL. I have read other people on the forum mention that you can go directrly to Hiranandani office in Powai.

    Please let me know how did you expediate your PAL.

    If anybody else can tell me the contact details where we can expediate the PAL since I have to apply for Loan since the plinth stage.

    Your quick response is appreciated

    Thanks,
    Sonu


    i think PAL has been issued only to those who booked very early - i booked my apt in aura way back in feb'09, so i have received it in feb'10 without doing anything special to expedite the same. Honestly i don't know why is it not issue being issue to those who booked in 2010-'11...

    cheers
    B
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  • PAL

    What on earth is going on with HIRCO - I have been following up with them to get PAL since Jan-2011 and now they have even stopped replying my emails.

    It has been a awful experience with the customer care - not living in India doesn't help it either.

    Just for board members information - I have sent them an email saying that I cannot arrange for payment of Plinth demand note unless and until I get the PAL and ball is in their court.

    Please share your experience if anyone without PAL, manages to get this document.
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  • Hi Shailen,

    I think Bhushank helped to clear the PAL story..it is not going to be issued to late bookers, it was only given to people who booked early.( I have also been told that...) What you need to ask for is registration of the property.

    I am pushing for that...and I want that bcos most banks will not disburse funds without registration.(I have been told to believe...donno how true it is?).

    I find that calling them helps....emails are like written commitments or information which may come back and bite them.(my experience) Iam also paying for international calls... :)

    re,
    c
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  • Thanks ccie2b.

    Will you be able to tell me, are you going ahead with the plinth payment and if yes, then what kind of documentation have you received from HIRCO which make you comfortable to do that?

    Many thanks in advance.

    Cheers
    Shailen
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  • Originally Posted by bhushank4
    Its not fair on the part of HIRCO to demand 20% plinth from you without providing you with the Provisional Allotment Letter (PAL), which a formal document declaring that the allotment of the flat to you and also it freezes the saleable area (builder cannot change the super builtup area after PAL) and the per sq ft rate.
    You should call your relationship manager and complain about not being provided with PAL, because without PAL you cannot apply for the home loan.

    cheers
    B


    Dear B,
    Nice to meet you after long GAP.
    Well, whats update on VENUS at the moment?
    I yet to get PAL too, after initial 20 % plinth.:o
    Whats current rate toot ,can u focus few updated things....about HPG.
    Regards,
    savvy_v
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  • Originally Posted by bhushank4
    In that case you do have a reason for not paying the next 20%. You can always argue that only if you receive the PAL / registration only then you will be able to apply for the loan and pay-off the next 20% amount. Contact your relationship manager. Please let us know what is their reaction....


    Dear B
    Very touching words......
    Just look on this link..Don't sell your old house in a hurry! - ET Slide Shows - Features - The Economic Times
    savvy_v
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