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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

    Tentative dates for the completion of ph#1 bldg construction

    Given below is the tentative payment schedule for phase#1 bldgs of HPG as communicated by my HPG relationship manager:


    Stages of
    Construction |
    Tentative Due Date | % Called



    Earnest Money 20.00%(already paid)

    Plinth 28-Apr-11
    20.00%

    1st Floor Slab 12-Jul-11
    1.83%

    2nd Floor Slab 27-Jul-11
    1.83%

    3rd Floor Slab 11-Aug-11
    1.83%

    4th Floor Slab 26-Aug-11
    1.83%

    5th Floor Slab 10-Sep-11
    1.83%

    6th Floor Slab 25-Sep-11
    1.83%

    7th Floor Slab 10-Oct-11
    1.83%

    8th Floor Slab 25-Oct-11
    1.83%

    9th Floor Slab 9-Nov-11
    1.83%

    10th Floor Slab 24-Nov-11
    1.83%

    11th Floor Slab 9-Dec-11
    1.83%

    12th Floor Slab 24-Dec-11
    1.83%

    13th Floor Slab 8-Jan-12
    1.83%

    14th Floor Slab 23-Jan-12
    1.83%

    15th Floor Slab 7-Feb-12
    1.83%

    16th Floor Slab 22-Feb-12
    1.83%

    17th Floor Slab 8-Mar-12
    1.83%

    18th Floor Slab 23-Mar-12
    1.83%

    19th Floor Slab 7-Apr-12
    1.83%

    20th Floor Slab 22-Apr-12
    1.83%

    21st Floor Slab 7-May-12
    1.83%

    22nd Floor Slab 22-May-12
    1.83%

    23rd Floor Slab 6-Jun-12
    1.83%

    24th Floor Slab 21-Jun-12
    1.83%

    25th Floor Slab 6-Jul-12
    1.83%

    26th Floor Slab 21-Jul-12
    1.83%

    27th Floor Slab 5-Aug-12
    1.83%

    28th Floor Slab 20-Aug-12
    1.83%

    29th Floor Slab 4-Sep-12
    1.83%

    30th Floor Slab 19-Sep-12
    1.83%

    Possession + 5% + Other Charges
    Other Charges

    Total 100.00%

    One can expect possession of all ph#1 bldgs just before the end of Yr'12 if they do not deviate from the above schedule

    cheers
    B
    Last edited January 28 2011, 12:17 PM.

    Comment


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

      Originally posted by bhushank4 View Post
      [COLOR=black]Given below is the tentative payment schedule for phase#1 bldgs of HPG

      One can expect possession of all ph#1 bldgs just before the end of Yr'12 if they do not deviate from the above schedule

      cheers
      B
      Thank u B,
      ALL THE BEST.
      I am sure they shall complete the work in time.
      Take care,
      Cheers,
      Savvy_v

      Comment


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

        Savvy_v[/QUOTE]

        NE UPDATE ON HPG?
        everybody silent....?
        cheers
        savvy_v

        Comment


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

          Hi B,

          I too have booked 2.5 in Clairemont (now Aura). What is your take on the future appreciation? Is it a good time to sale off and exit or it makes sense to hold on for longer time?

          On other note, do you know anything re. registration formalities and loan process?

          Cheers,
          J

          Comment


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

            Originally posted by Joshi1965 View Post
            Hi B,

            I too have booked 2.5 in Clairemont (now Aura). What is your take on the future appreciation? Is it a good time to sale off and exit or it makes sense to hold on for longer time?

            On other note, do you know anything re. registration formalities and loan process?

            Cheers,
            J
            Hi J

            I am also an investor in Aura. If its not a case of emergency, I would rather advise you to stay put and continue being invested at least till 2020. If you have invested at the rate of 3600 you will get an appreciation value of a mere Rs.500psf. But in the next 10 years one can expect appreciation of at least Rs.5000psf or more.

            I don't know about the loan approvals from bank for this project as yet (call your relationship manager) but I think registration and stamp duty of Aura must come before the end of April'11, because that is when they have scheduled completion of plinth and subsequent call for the next 20% payment and by rule, a builder cannot ask for more than 20% payment, if the property is not registered in the owner's name.

            cheers
            B

            Comment


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

              Originally posted by bhushank4 View Post
              Hi J
              a builder cannot ask for more than 20% payment, if the property is not registered in the owner's name.

              cheers
              B
              Hi Bhushan, I just want to know more about this rule.
              What do you mean by registered?
              What we are facing is that We pay the builder 20% and then he will give us allotment letter.
              After which we will be partially paying say 2% each month.. but we dont know when will the registration start
              SO confused with your above statement.
              Thanks

              Comment


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

                Originally posted by bhushank4 View Post
                Hi J

                I am also an investor in Aura. If its not a case of emergency, I would rather advise you to stay put and continue being invested at least till 2020. If you have invested at the rate of 3600 you will get an appreciation value of a mere Rs.500psf. But in the next 10 years one can expect appreciation of at least Rs.5000psf or more.

                I don't know about the loan approvals from bank for this project as yet (call your relationship manager) but I think registration and stamp duty of Aura must come before the end of April'11, because that is when they have scheduled completion of plinth and subsequent call for the next 20% payment and by rule, a builder cannot ask for more than 20% payment, if the property is not registered in the owner's name.

                cheers
                B
                Hi B,
                Thanks for the prompt response. I echo your views. For me lot more depends on bank loan for the payment of next 20%. Have already written to Relationship Manager last week and awaiting her response.
                Cheers, J

                Comment


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

                  Originally posted by MrBean View Post
                  Hi Bhushan, I just want to know more about this rule.
                  What do you mean by registered?
                  What we are facing is that We pay the builder 20% and then he will give us allotment letter.
                  After which we will be partially paying say 2% each month.. but we dont know when will the registration start
                  SO confused with your above statement.
                  Thanks
                  Dear MrBean
                  First-of-all I would like to state here that after paying 20% earnest money within a month of booking you will also have to pay another 20% after the completion of plinth. For Aura this will be around April'11 (see my post#212). Only after that you will be partially paying 2% each month depending upon the completion of subsequent slabs.
                  So here we are discussing about the second 20% payment which will be after the completion of plinth and not the first one which was PAID within one month period after booking.
                  Coming back to your question, agreement and (or) registration of the property are essential for the bank home loan approval. As per my relationship manager, currently HPG is in a dialogue with several banks on their requirements for issuing home-loans to the buyers in this project. If banks are ready to issue loans on Agreement alone, then only the agreements will be made (before April'11 in case of Aura), and if the banks insist on registration as well, then the registration of properties will also have to be done at the same time along with agreement.
                  Last edited February 10 2011, 06:55 PM.

                  Comment


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

                    Originally posted by bhushank4 View Post
                    Dear MrBean
                    First-of-all I would like to state here that after paying 20% earnest money within a month of booking you will also have to pay another 20% after the completion of plinth. For Aura this will be around April'11 (see my post#212). Only after that you will be partially paying 2% each month depending upon the completion of subsequent slabs.
                    So here we are discussing about the second 20% payment which will be after the completion of plinth and not the first one which was PAID within one month period after booking.
                    Coming back to your question, agreement and (or) registration of the property are essential for the bank home loan approval. As per my relationship manager, currently HPG is in a dialogue with several banks on their requirements for issuing home-loans to the buyers in this project. If banks are ready to issue loans on Agreement alone, then only the agreements will be made (before April'11 in case of Aura), and if the banks insist on registration as well, then the registration of properties will also have to be done at the same time along with agreement.

                    Dear B
                    APPRECIATE ur PRECISE D answer for the post.
                    What about the buildings ,they are changing names now.
                    Claremount to AURA.
                    VERONA to VENUS......Any reason for so......
                    Kind regards.
                    cheers
                    savvy_v

                    Comment


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

                      Originally posted by bhushank4 View Post
                      Dear MrBean
                      First-of-all I would like to state here that after paying 20% earnest money within a month of booking you will also have to pay another 20% after the completion of plinth. For Aura this will be around April'11 (see my post#212). Only after that you will be partially paying 2% each month depending upon the completion of subsequent slabs.
                      So here we are discussing about the second 20% payment which will be after the completion of plinth and not the first one which was PAID within one month period after booking.
                      Coming back to your question, agreement and (or) registration of the property are essential for the bank home loan approval. As per my relationship manager, currently HPG is in a dialogue with several banks on their requirements for issuing home-loans to the buyers in this project. If banks are ready to issue loans on Agreement alone, then only the agreements will be made (before April'11 in case of Aura), and if the banks insist on registration as well, then the registration of properties will also have to be done at the same time along with agreement.
                      Hi B,

                      I inquired about the tentative time lines regarding completion of paperwork and agreement registration process. Especially whether it is likely to be complete in time for payment of 20% which will be due in April, for me to process the loan and if it's not available in time will they extend the date for payment. The response that I got was, for loan approval, agreement is not required. The registration needs to be completed before loan disbursement. If I produce loan approval letter (I was recommended to approach HDFC), the interest charges for late payment can be waived.


                      Cheers, J

                      Comment

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