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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  • Apparently the lease thing is picking up.
    Magarpatta city - Pune leases flats for 99 years and Amanora PArk Town leases it for 999 years.
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  • Originally Posted by peter.aviano
    Apparently the lease thing is picking up.
    Magarpatta city - Pune leases flats for 99 years and Amanora PArk Town leases it for 999 years.


    same about megapolis and blue ridge in hinjewadi.
    However I still dont understand if 99 years later someone will basically suffer due to such a deal.
    Our forefathers never did such a deal so we dont know :D
    For the amanora park, I think it is just a way around to avoid giving conveyance. The Amanora park guys have got quite some attitude:p. They believe they have the world's poshest housing complex :D
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  • Originally Posted by jiahome
    same about megapolis and blue ridge in hinjewadi.
    However I still dont understand if 99 years later someone will basically suffer due to such a deal.
    Our forefathers never did such a deal so we dont know :D
    For the amanora park, I think it is just a way around to avoid giving conveyance. The Amanora park guys have got quite some attitude:p. They believe they have the world's poshest housing complex :D

    I have a family home in Nagpur and the there are about 400+ independent homes built on this particular leased land. The land was leased in 1905 for 99 years. Lease was given to a religious body by the then Indian Govt (british ruled). The lease expired and the colony's society has petitioned the Religious body in that year itself to renew the land. The body in turn immediately made the application to Maha Govt. the file is still pending, but no effect whatsoever on the land prices or residents. The file is progressing slowly but no one has been bothered. The land belongs to the State.
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  • rates r to high i find indiabulls greens rate more resonable then hiranandani...and is atleast 5km from panvel station...but hiranandani is quite far..
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  • arihant arham is offering flats at 2350/- per sq.ft at panvel,lower than ibrealestate,hiranandani,kalpatru.
    neelkanth and mahavir are also coming up with projects in panvel.
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  • Originally Posted by sbhagtani
    arihant arham is offering flats at 2350/- per sq.ft at panvel,lower than ibrealestate,hiranandani,kalpatru.
    neelkanth and mahavir are also coming up with projects in panvel.


    It is as far from panvel station as indiabulls is. On the other side and next to a river. There are 3 storey buildings, 75 of them, only 2-BHKs. For me it is like govt colony in bandra east.
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  • Originally Posted by wadia
    It is as far from panvel station as indiabulls is. On the other side and next to a river. There are 3 storey buildings, 75 of them, only 2-BHKs. For me it is like govt colony in bandra east.


    but construction is going on unlike ib real estate,price is lower,maintanance will be lower,builder has some reputation in new mumbai,
    hiranandani, ibreal estate,etc with their political connections are just out there to loot people.
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  • hi evry1

    i dnt find hiranandani best investment..coz its more far thn indiabulls project and kalpataru...sorry guys im not negative abt hiranandani but place is vry far...and even rates wat they r coating is too high..
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  • Originally Posted by sbhagtani
    but construction is going on unlike ib real estate,price is lower,maintanance will be lower,builder has some reputation in new mumbai,
    hiranandani, ibreal estate,etc with their political connections are just out there to loot people.


    Construction for Indiabulls has also started.
    Arihants price is lower but comparing the projects, the price is not cheap. It is probably just worth what they are selling it for.

    You blame Hiranandani and IB to be looting people. I agree.
    Is Arihant doing anything different? 2300 for the project and the location is same
    as 2900 for IB and 3600 for Hiranandani and 4000 for Kalpatru

    All builders are in the same business - Make as much money as possible - Basic principle of Capitalism
    In the absence of a regulator they all resort to looting their customers.

    It is up to every individual to decide what he needs:
    Arihant: at 2300, 3 storey building, 75 building society, other side of panvel, near a river!
    IB: 2900, lack of transparency, long time for possession, township and 5Km from panvel
    Hiranandani: 3600, including an SEZ, in Rasayani, leasehold, but posh!!
    Kalpatru: 4000, river thing stinks, good builder, good location.
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  • i dnt find hiranandani best investment..coz its more far thn indiabulls project and kalpataru...sorry guys im not negative abt hiranandani but place is vry far...and even rates wat they r coating is too high.

    hi Peeya,
    good to see u on Hirco forum.... hope u remember me frm Indiabulls Panvel greens forum. I am in a better position to compare these projects as I have invested in both of them.
    I think it is not fair to compare hirco project with Indiabulls w.r.t. its distance from Panvel stn or upcoming panvel a/p for that matter. I m aware that hirco is around 5kms farther than indiabulls from Panvel rly stn, but Indiabulls itself is at least 6kms from the stn which in itself is already a long distance from any rly stn by Mumbai standards wherein distance between two consecutive stns is sometimes less than 5kms :)
    Both these projects are going to have shuttle services to and from the respective projects to the rly stns and on the New Panvel Roads, I think people from Hirco might need to take only a 5 mins earlier shuttle to reach Panvel rly stn on the same time as those from Indiabulls project.
    In my opinion Hirco is a posh project in true sense since they might have lesser number of residential buildings in their 280acres as compared to Indiabulls with only 80acres at their disposal, leading to more scope for open spaces and other recreational activities.
    I have 3BHK in 1407sqft. in Indiabulls H-Block... as compared to only 2.5BHK in 1580 sqft in Hirco. This is a good indication of who has got more spacious Flats.
    Hirco have better views of matheran mountains for their higher floor occupants in addition to the garden view for their lower floor occupants as compared to Indiabulls project. Coparison of bldg layout plans show that Hirco has taken a much better care of the views from almost all their appartments as against Indiabulls wherein only those flats paying PLC charges are offered good views
    The very fact that Hirco will have their own power substation (built by Tata Power) to support their township speaks volumes about their superiority in customer care.
    And above all unlike Indiabulls, who have been non-transparent and illusive about their commencement of construction, Hirco has been very clear that they don't expect their construction to begin before the last quarter of Yr.2010 even if Hirco was soft launched at least 6 months before Indiabulls Panvel greens.

    Plz don't think that i want to demoralize you as it will be like demoralizing myself as I am also an investor in Indiabulls (phase-1). In fact would like to congratulate you as we have already got a good appreciation on what we bought. But on any day I will never accept the argument that Hirco Palace gardens in Panvel is not a best investment.:)
    The very fact that Hirco will have their own power substation (built by Tata Power) to support their township speaks volumes about their superiority in customer care.
    And above all unlike Indiabulls, who have been non-transparent and illusive about their commencement of construction, Hirco has been very clear that they don't expect their construction to begin before the last quarter of Yr.2010 even if Hirco was soft launched at least 6 months before Indiabulls Panvel greens.

    Plz don't think that i want to demoralize you as it will be like demoralizing myself as I am also an investor in Indiabulls (phase-1). In fact would like to congratulate you as we have already got a good appreciation on what we bought. But on any day I will never accept the argument that Hirco Palace gardens in Panvel is not a best investment.:)
    The very fact that Hirco will have their own power substation (built by Tata Power) to support their township speaks volumes about their superiority in customer care.
    And above all unlike Indiabulls, who have been non-transparent and illusive about their commencement of construction, Hirco has been very clear that they don't expect their construction to begin before the last quarter of Yr.2010 even if Hirco was soft launched at least 6 months before Indiabulls Panvel greens.

    Plz don't think that i want to demoralize you as it will be like demoralizing myself as I am also an investor in Indiabulls (phase-1). In fact would like to congratulate you as we have already got a good appreciation on what we bought. But on any day I will never accept the argument that Hirco Palace gardens in Panvel is not a best investment.:)
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  • Good comaprison Bhushan. As I earlier said Hirco is Posh. Comparing the price of Hirco and Indiabulls, you basically get what you pay for.
    BTW what price did you pay for Hirco. I mean sqft,floor rise, parking, etc?
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  • HI..

    HI BHUSHAN IT REALY NICE TO SEE U TOO IN HIRCO FORUM...HEY I AGREE WAT EVER U EXPLAIND SO NICELY ABT THE HIRCO..BUT SEE I JUST GOT HITCH BY SOME POINTS WHICH CAME IN MINE MIND..( Hiranandani: 3600, including an SEZ, in Rasayani, leasehold) WHICH IS ALSO ON MANY PEOPLES MIND SO I FELT...BUT ANYWAYS CONGRATS...:)
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  • I have stayed in Panvel sold the flat and moved to Kharghar. From my personal experience I can tell you that Panvel is a village compared to Kharghar. The area next to the Bus Depot is a slum and slums are a rarity in Navi Mumbai. Kharghar has all the big retailers including More, Reliance Fresh, Big Bazaar, Spinach etc. There are quite a few malls in Kharghar, Adlabs and another theater, there are good schools for kids, temples, hospitals, engineering college, medical college, Management college, NIFT. For a place like Rasayani to get all these things will take years. There have been other projects in the past which have touted the so called shuttle service and it's all useless, ultimately you have to rely on public transportation and that will take years to come up. If you want to travel from Navi Mumbai to Mumbai frequently you have to rely on local trains (it takes one hour flat from the time you board the train in Kharghar to the time you get to CST). Traveling from Rasayani to CST is going to take more than 1.5 hours easily. Hiranandani can build the buildings but, for the retail chains to setup shop it needs to make business sense for them so, it's unlikely that there will be too many retail chains that open shop in Hiranandani Panvel atleast not till the place is fully occupied. Which just means that if you need to shop for anything other than basic groceries you will have to travel. Options for education too are going to be limited if any. It's just my personal opinion but, I think people who are planning to buy in Panvel (whether ibulls or hirco or kalpataru or whatever else) should really instead go to Kharghar. It's a much better option with every thing that is already present there and in the future it is going to be even better with all the planned infrastructure for Kharghar. If Hiranandani Rasayani deserves 3600 then I would say that Kharghar (main Kharghar sec-7, which also has afew buildings by Hiranandani) easily deserves 6500 as of today. And something like Sec-10 Kharghar is easily worth 5500 and Sec-35 (even though I would not recommend anyone buy there right now) is worth 4500-5000.
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  • Originally Posted by nooob
    I have stayed in Panvel sold the flat and moved to Kharghar. From my personal experience I can tell you that Panvel is a village compared to Kharghar. The area next to the Bus Depot is a slum and slums are a rarity in Navi Mumbai. Kharghar has all the big retailers including More, Reliance Fresh, Big Bazaar, Spinach etc. There are quite a few malls in Kharghar, Adlabs and another theater, there are good schools for kids, temples, hospitals, engineering college, medical college, Management college, NIFT. For a place like Rasayani to get all these things will take years. There have been other projects in the past which have touted the so called shuttle service and it's all useless, ultimately you have to rely on public transportation and that will take years to come up. If you want to travel from Navi Mumbai to Mumbai frequently you have to rely on local trains (it takes one hour flat from the time you board the train in Kharghar to the time you get to CST). Traveling from Rasayani to CST is going to take more than 1.5 hours easily. Hiranandani can build the buildings but, for the retail chains to setup shop it needs to make business sense for them so, it's unlikely that there will be too many retail chains that open shop in Hiranandani Panvel atleast not till the place is fully occupied. Which just means that if you need to shop for anything other than basic groceries you will have to travel. Options for education too are going to be limited if any. It's just my personal opinion but, I think people who are planning to buy in Panvel (whether ibulls or hirco or kalpataru or whatever else) should really instead go to Kharghar. It's a much better option with every thing that is already present there and in the future it is going to be even better with all the planned infrastructure for Kharghar. If Hiranandani Rasayani deserves 3600 then I would say that Kharghar (main Kharghar sec-7, which also has afew buildings by Hiranandani) easily deserves 6500 as of today. And something like Sec-10 Kharghar is easily worth 5500 and Sec-35 (even though I would not recommend anyone buy there right now) is worth 4500-5000.

    Good analysis
    But RE market is not as simple as any analyst can easily decipher.
    e.g. Hiranadani and K.Raheja vistas are located withing 1km of each other in Powai. Both developers are equally good. Still Hiranandani commands 18k while K.Raheja is commanding 7.5K
    In this case, society is playing a big role.


    When Hiranandani started Powai 20 years ago, Mulund was a much more developed locality. Today Powai easily command 30% more than Mulund.

    You may be right or wrong, in you analysis. But as I said earlier, it is a very complex market.
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  • Yeah.. It is all about creating an image.. The township at Powai by Hiranandani looks brilliant.. and to be honest if you see.. nothing is closeby to Powai.. no suburban railway stations which was crucial in those days..
    Wadia rightly put it.. it is very complex.. and also a matter of luck.. if you are betting one way or the other..
    We have these crooks Royal Palms in goregaon.. yeah the quality sucked.. but still the prices were quite amazing what he was offering... but still no takers..
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