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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

    Originally posted by bhushank4 View Post
    Just received demand note for the next 20% payment on the completion of construction till plinth level of Aura bldg. (phase#1). Last date for payment without penalty is June 7.
    This was expected to come in the last week of April so its probably a month behind schedule..... Hopefully the rest of construction will also be done without further delays.... In fact I am expecting them to pick pace in construction of slabs and make up for the delay in plinth completion.

    Would like to know if there's anyone else from this forum who have invested in the same bldg (Aura)?
    Hi Bhushan, I too have invested in Aura. Have received demand note with the same payment date - Joshi

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

      Can anyone on the forum advice if I have to sale my investment in HPG Panvel today, what rate can I expect (base rate + flr rise), how can do it if I decide to and what is the implication of capital gains tax?
      Cheers! Joshi

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

        Was anyone able to successfully avail bank loan yet.

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

          Originally posted by AllIsWell View Post
          Was anyone able to successfully avail bank loan yet.
          AllIsWell,
          Did u see the list of banks which have approved the HPG project, that I have posted in the previous page (#25) of this thread?... I haven't approached anyone of them as yet but, just like you would surely like to know what kind of response does one gets from one of these banks when s(he) applies for Home loan for HPG project....
          cheers
          B

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

            Originally posted by Joshi1965 View Post
            Can anyone on the forum advice if I have to sale my investment in HPG Panvel today, what rate can I expect (base rate + flr rise), how can do it if I decide to and what is the implication of capital gains tax?
            Cheers! Joshi
            I think its better to get this information from your HPG relationship manager itself.

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

              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
              Last edited May 25 2011, 02:02 AM.

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

                Originally posted by AllIsWell View Post
                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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                • Re : Palace Garden, Hirco Group, Panvel, Mumbai

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

                    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,
                    Last edited May 25 2011, 08:27 PM.

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

                      Originally posted by AllIsWell View Post
                      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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