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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 savvy_v View Post
    Dear B
    What about the buildings ,they are changing names now.
    Claremount to AURA.
    VERONA to VENUS......Any reason for so......
    They are just trying to make the names shorter........ i think
    Last edited February 16 2011, 08:52 PM.

    Comment


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

      Originally posted by Joshi1965 View Post
      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
      I think they shouldn't charge for upto one month late payment considering the processing time required for loan application. Also some people might not be available in time for the registration purpose as well, because of working abroad. The later case can be avoided by issuing POA by the owner to anyone of his relatives who is willing to do the registration in the absence of the owner.

      cheers
      B

      Comment


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

        Originally posted by bhushank4 View Post
        I think they shouldn't charge for upto one month late payment considering the processing time required for loan application. Also some people might not be available in time for the registration purpose as well, because of working abroad. The later case can be avoided by issuing POA by the owner to anyone of his relatives who is willing to do the registration in the absence of the owner.

        cheers
        B
        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.[COLOR="rgb(153, 50, 204)"]{for the first 11 buildings}[/COLOR]
        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.
        savvy_v

        Comment


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

          Raigad Special Economic Zone (SEZ) in trouble...

          Greetings Boarders,

          I wonder how the below article will affect the HPG investors... any thoughts / views be most appreciated...


          "Mumbai: Mukesh Ambani's plans to convert Raigad district into Maharashtra's biggest Special Economic Zone (SEZ) seem to have run into trouble. The state government has issued a resolution to de-notify the acquisition of land for this as Reliance could not acquire the land by the December 2009 deadline. It says the farmers are now free to utilise their lands as they deem fit.
          "The decision has been taken by Revenue Minister Balasaheb Thorat in the interests of farmers as process of land acquisition for the SEZ wasn't completed in the stipulated period," an official said.
          The period of two years allotted under the Land Acquisition Act to acquire land for the ambitious project had lapsed in December 2009, but the government had so far made no official announcement on the issue.
          This meant the 7/12 (land record) extracts of farmers in the project area, comprising 45 villages in Uran, Pen and Panvel talukas, continued to carry the remark that the land was reserved for the SEZ project, preventing farmers from selling, buying, or transferring their lands.
          "Farmers were in a dilemma so far, but now they are free to use their lands as they wish. This will set an example for other SEZs in the country," Ulka Mahajan of the SEZ Virodhi Sansh Samiti said.
          The land acquisition procedure for the proposed SEZ project, spread over 35,000 acres in Raigad, was started in May 2006. But, the company managed to acquire only 13 per cent of the land within the stipulated period, as it faced strong opposition from farmers.
          In September 2008, the state government conducted a referendum, in which the villagers voted against the project.

          Sources say the state government can't scrap the SEZ as this is up to the Centre. This will mean Mukesh Ambani can acquire the land privately. But this won't be easy given the stiff opposition from the locals.
          Sources say the 500 farmers who had earlier given their land for the SEZ have now approached the court asking for it to be returned. They say they are even willing to return the compensation given to them. (With PTI Inputs)"
          Source: NDTV.com: India, Business, Bollywood, Cricket, Video and Breaking News

          Comment


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

            Originally posted by Amateur001 View Post
            Greetings Boarders,

            I wonder how the below article will affect the HPG investors... any thoughts / views be most appreciated...


            "Mumbai: Mukesh Ambani's plans to convert Raigad district into Maharashtra's biggest Special Economic Zone (SEZ) seem to have run into trouble. The state government has issued a resolution to de-notify the acquisition of land for this as Reliance could not acquire the land by the December 2009 deadline. It says the farmers are now free to utilise their lands as they deem fit.
            "The decision has been taken by Revenue Minister Balasaheb Thorat in the interests of farmers as process of land acquisition for the SEZ wasn't completed in the stipulated period," an official said.
            The period of two years allotted under the Land Acquisition Act to acquire land for the ambitious project had lapsed in December 2009, but the government had so far made no official announcement on the issue.
            This meant the 7/12 (land record) extracts of farmers in the project area, comprising 45 villages in Uran, Pen and Panvel talukas, continued to carry the remark that the land was reserved for the SEZ project, preventing farmers from selling, buying, or transferring their lands.
            "Farmers were in a dilemma so far, but now they are free to use their lands as they wish. This will set an example for other SEZs in the country," Ulka Mahajan of the SEZ Virodhi Sansh Samiti said.
            The land acquisition procedure for the proposed SEZ project, spread over 35,000 acres in Raigad, was started in May 2006. But, the company managed to acquire only 13 per cent of the land within the stipulated period, as it faced strong opposition from farmers.
            In September 2008, the state government conducted a referendum, in which the villagers voted against the project.

            Sources say the state government can't scrap the SEZ as this is up to the Centre. This will mean Mukesh Ambani can acquire the land privately. But this won't be easy given the stiff opposition from the locals.
            Sources say the 500 farmers who had earlier given their land for the SEZ have now approached the court asking for it to be returned. They say they are even willing to return the compensation given to them. (With PTI Inputs)"
            Source: NDTV.com: India, Business, Bollywood, Cricket, Video and Breaking News
            WHY ONLY HPG INVESTORS......INVESTORS over all in NAVI Mumbai.....
            BTW. Its in NAVI Mumbai.....
            In my view;;; In short term yes it may affect,,,,but in longer perspective......It shall not....
            savvy_v

            Comment


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

              HPG Panvel

              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!

              Comment


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

                Originally posted by kalbinder View Post
                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

                Comment


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

                  Originally posted by kalbinder View Post
                  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

                  Comment


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

                    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!

                    Comment


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

                      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?

                      Comment

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