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 purvikpathak
    I have a 2.5 BHK (1499 sqft) in Aura. Will consider an offer of 3700 or nearest ones. I had purchased it at 3100. It is on 15th Floor (The slab is already laid) and am waving off the floor rise. Please send me a PM. Full white payment is ok with me.

    Originally Posted by purvikpathak
    That is on paper. Hirco is not able to sell a single one at that rate. The economy is in terrible shape. No one wants to buy. All the buyers I have spoken to over past 6 months were offering 3300.
    Also the 4400 is for naive NRIs. They deal only with the builder so it is difficlut to get those bakras. Hirco does lot of marketing for NRIs and they book directly from Hirco's overseas office without seeing the site. Hirco is recently under strain as the high court has put stay order on any further developments in their Powai township. Also the court ordered Hiranandani to convert Hiranadani Powai into a slum by contructing 1500 flats of 400 sqft in the remaing land or by razing current buildings. See this link: www.indianexpress.com/news/hc-directs-hiranandani-to-build-affordable-flats/915384/
    The courts are just stupid!!

    Originally Posted by purvikpathak
    If you see the news then you know what is happening :-)
    Anyways, even Indiabulls reduced its rate from 4800 to 3800 last month. They only have few 2BHK flats but they are still not getting any buyers.
    Hirco is further away and on lease land. I was not impressed with the construction quality at the site either. Also there is election in 2014 and the agent told me that while Hirco has good relation with current government, the new government may me pro-farmer and may cause them trouble as they got the lease land saying they will develop SEZ and jobs but there are no signs of any industry. It is more like the case in Greater Noida where Government in collusion with builder (in this case Hirco) gave away farmer land at cheap rates till until the farmers moved the high court. The agent suggested me 3500 but I am sticking to 3700. I am sure I will get one of the credulous NRIs, blinded by powai glitter, who will pay 3700. The agent told me that many US NRIs come flat-shopping during September school vaccation and I only need one. The dollar has risen 20% over last 1 year, they will definitely pay 3700.

    What an eye opener. I was in direct talks with Hirco at 4400 and after reading your post contacted an agent. You are right, as there is a beeline of resellers. He offered me 1BHK at 3400 on 1st floor in Apollo. Would have helped you at 3500 but you being honest/frank, you have lost one buyer (me), who now does not want to go with Hirco at all. Indiabulls looks like much better value. All problems reported had been for the pre-launch buyers and the ones who recently bought in phase 1 are very happy with the progress and the land title is clear and not on lease. Indiabulls construction quality is also way better than Hirco. But again Indiabulls is a bet on Indian economy's future which is very uncertain. Good bye Panvel, Mira Road looks like a safer bet for me. Good luck!
    CommentQuote
  • I still will place my bet at panvel/adjoining areas

    If you think any future developments in infrastructure/commercial activity, it is all planned in that area.
    Airport development means connectivity from this place to any other plae in Mumbai will have to be developed. Also all future SEZ if any will come in that area. no point moving further north on western suburbs.
    CommentQuote
  • it took 30 years for vashi and other key navi mumbai areas to be what they are today.. even that is not much. despite navi mumbai being a planned city development.

    dont expect anything spectacular in the next 15 years for Panvel and surrounding areas.
    CommentQuote
  • These talk are all speculations about availabilty at lower price. IB is in a mess due to approvals hence their flats doesnt have any takers . Hiranandani is not in the same league...there are steady demands from NRI's hence Hiranandani is not even promoting this project in Domestic market .

    Regarding Vashi taking 30 yrs to develop ... it might be true , but also see that it used to take 15 years for property prices in mumbai to double in 80's. Now the average age is 5 years ....

    Hence not comparable
    CommentQuote
  • Originally Posted by purvikpathak
    I have a 2.5 BHK (1499 sqft) in Aura. Will consider an offer of 3700 or nearest ones. I had purchased it at 3100. It is on 15th Floor (The slab is already laid) and am waving off the floor rise. Please send me a PM. Full white payment is ok with me.

    Originally Posted by purvikpathak
    That is on paper. Hirco is not able to sell a single one at that rate. The economy is in terrible shape. No one wants to buy. All the buyers I have spoken to over past 6 months were offering 3300.
    Also the 4400 is for naive NRIs. They deal only with the builder so it is difficlut to get those bakras. Hirco does lot of marketing for NRIs and they book directly from Hirco's overseas office without seeing the site. Hirco is recently under strain as the high court has put stay order on any further developments in their Powai township. Also the court ordered Hiranandani to convert Hiranadani Powai into a slum by contructing 1500 flats of 400 sqft in the remaing land or by razing current buildings. See this link: http://www.indianexpress.com/news/hc-directs-hiranandani-to-build-affordable-flats/915384/"]HC directs Hiranandani to build affordable flats - Indian Express
    The courts are just stupid!!
    Originally Posted by purvikpathak
    If you see the news then you know what is happening :-)
    Anyways, even Indiabulls reduced its rate from 4800 to 3800 last month. They only have few 2BHK flats but they are still not getting any buyers.
    Hirco is further away and on lease land. I was not impressed with the construction quality at the site either. Also there is election in 2014 and the agent told me that while Hirco has good relation with current government, the new government may me pro-farmer and may cause them trouble as they got the lease land saying they will develop SEZ and jobs but there are no signs of any industry. It is more like the case in Greater Noida where Government in collusion with builder (in this case Hirco) gave away farmer land at cheap rates till until the farmers moved the high court. The agent suggested me 3500 but I am sticking to 3700. I am sure I will get one of the credulous NRIs, blinded by powai glitter, who will pay 3700. The agent told me that many US NRIs come flat-shopping during September school vaccation and I only need one. The dollar has risen 20% over last 1 year, they will definitely pay 3700.


    Originally Posted by pankajpatil
    What an eye opener. I was in direct talks with Hirco at 4400 and after reading your post contacted an agent. You are right, as there is a beeline of resellers. He offered me 1BHK at 3400 on 1st floor in Apollo. Would have helped you at 3500 but you being honest/frank, you have lost one buyer (me), who now does not want to go with Hirco at all. Indiabulls looks like much better value. All problems reported had been for the pre-launch buyers and the ones who recently bought in phase 1 are very happy with the progress and the land title is clear and not on lease. Indiabulls construction quality is also way better than Hirco. But again Indiabulls is a bet on Indian economy's future which is very uncertain. Good bye Panvel, Mira Road looks like a safer bet for me. Good luck!

    Are there any comparable projects at similar prices in Mira Road, Virar, Kalyan? I agree with you that people like to live in inhabitable areas.
    Are there any comparable projects at similar prices in Mira Road, Virar, Kalyan? I agree with you that people like to live in inhabitable areas.
    Are there any comparable projects at similar prices in Mira Road, Virar, Kalyan? I agree with you that people like to live in inhabitable areas.
    Are there any comparable projects at similar prices in Mira Road, Virar, Kalyan? I agree with you that people like to live in inhabitable areas.
    CommentQuote
  • Originally Posted by sharpinvestor
    These talk are all speculations about availabilty at lower price. IB is in a mess due to approvals hence their flats doesnt have any takers . Hiranandani is not in the same league...there are steady demands from NRI's hence Hiranandani is not even promoting this project in Domestic market .

    Regarding Vashi taking 30 yrs to develop ... it might be true , but also see that it used to take 15 years for property prices in mumbai to double in 80's. Now the average age is 5 years ....

    Hence not comparable

    The Indiabulls price reduction is for phase 1 which is all cleared and has 30 slabs completed. Their phase 2 is the one that has not got clearance but they are not selling that. I did contact them before I started talking to Hirco.
    The average age was 5 years in early 2000s. Since its launch in 2008, Hirco has only increased its theoretical price from 3600 to 4400 (22%). Indiabulls is a stupid/non-professional builder so it saw higher gain.
    CommentQuote
  • Originally Posted by purvikpathak
    I have a 2.5 BHK (1499 sqft) in Aura. Will consider an offer of 3700 or nearest ones. I had purchased it at 3100. It is on 15th Floor (The slab is already laid) and am waving off the floor rise. Please send me a PM. Full white payment is ok with me.

    Originally Posted by purvikpathak
    That is on paper. Hirco is not able to sell a single one at that rate. The economy is in terrible shape. No one wants to buy. All the buyers I have spoken to over past 6 months were offering 3300.
    Also the 4400 is for naive NRIs. They deal only with the builder so it is difficlut to get those bakras. Hirco does lot of marketing for NRIs and they book directly from Hirco's overseas office without seeing the site. Hirco is recently under strain as the high court has put stay order on any further developments in their Powai township. Also the court ordered Hiranandani to convert Hiranadani Powai into a slum by contructing 1500 flats of 400 sqft in the remaing land or by razing current buildings. See this link: http://www.indianexpress.com/news/hc-directs-hiranandani-to-build-affordable-flats/915384/"]HC directs Hiranandani to build affordable flats - Indian Express
    The courts are just stupid!!
    Originally Posted by purvikpathak
    If you see the news then you know what is happening :-)
    Anyways, even Indiabulls reduced its rate from 4800 to 3800 last month. They only have few 2BHK flats but they are still not getting any buyers.
    Hirco is further away and on lease land. I was not impressed with the construction quality at the site either. Also there is election in 2014 and the agent told me that while Hirco has good relation with current government, the new government may me pro-farmer and may cause them trouble as they got the lease land saying they will develop SEZ and jobs but there are no signs of any industry. It is more like the case in Greater Noida where Government in collusion with builder (in this case Hirco) gave away farmer land at cheap rates till until the farmers moved the high court. The agent suggested me 3500 but I am sticking to 3700. I am sure I will get one of the credulous NRIs, blinded by powai glitter, who will pay 3700. The agent told me that many US NRIs come flat-shopping during September school vaccation and I only need one. The dollar has risen 20% over last 1 year, they will definitely pay 3700.


    Originally Posted by pankajpatil
    What an eye opener. I was in direct talks with Hirco at 4400 and after reading your post contacted an agent. You are right, as there is a beeline of resellers. He offered me 1BHK at 3400 on 1st floor in Apollo. Would have helped you at 3500 but you being honest/frank, you have lost one buyer (me), who now does not want to go with Hirco at all. Indiabulls looks like much better value. All problems reported had been for the pre-launch buyers and the ones who recently bought in phase 1 are very happy with the progress and the land title is clear and not on lease. Indiabulls construction quality is also way better than Hirco. But again Indiabulls is a bet on Indian economy's future which is very uncertain. Good bye Panvel, Mira Road looks like a safer bet for me. Good luck!

    Originally Posted by purvikpathak
    Are there any comparable projects at similar prices in Mira Road, Virar, Kalyan? I agree with you that people like to live in inhabitable areas.

    Mira Road average rate is 5000. Kalyan is about 3000-4000. Virar is 3000-3500. Many reputed builders over there. Also a very good rental market. I know it is congested and awful to live but that is where there is real demand. Panvel is all NRI speculation.
    I meant safer bet.
    Definitely Panvel is high risk - high gain.
    Mira Road average rate is 5000. Kalyan is about 3000-4000. Virar is 3000-3500. Many reputed builders over there. Also a very good rental market. I know it is congested and awful to live but that is where there is real demand. Panvel is all NRI speculation.
    I meant safer bet.
    Definitely Panvel is high risk - high gain.
    Mira Road average rate is 5000. Kalyan is about 3000-4000. Virar is 3000-3500. Many reputed builders over there. Also a very good rental market. I know it is congested and awful to live but that is where there is real demand. Panvel is all NRI speculation.
    I meant safer bet.
    Definitely Panvel is high risk - high gain.
    Mira Road average rate is 5000. Kalyan is about 3000-4000. Virar is 3000-3500. Many reputed builders over there. Also a very good rental market. I know it is congested and awful to live but that is where there is real demand. Panvel is all NRI speculation.
    I meant safer bet.
    Definitely Panvel is high risk - high gain.
    CommentQuote
  • Western suburbs after dahisar _ commuting is impossible

    Well , look at western suburbs ... after dahisar ... commuting is impossible by train .... lots of illegal constructions at mira road....its a non cosmopolitan area along with challenge to have good schools for kids ... whereas navi mumbai has everything and its easy to commute by train in both harbour and central line than in western line.

    Its foolish to compare IB with Hiranandani. IB is focussing on mass market in panvel and Hiranadani is upscale. It depends upon budget of individual. Both are good reputed builders .

    Well rates are all speculation ... unless you go there to buy...

    I will bet my money in a good builder at navi mumbai than any local builders at any of the western location .

    Moreover , in mira road you will not get good flats in Rs 5000 ... kalapataru , lodha , db are all quoting more than 7500.

    The real ticker is Airport ... if the airport construction starts then you will see a 50% jump in prices on the same day in panvel ... when when the day will come .... god only knows ..
    CommentQuote
  • Hi Purvik,

    Thanks for the very interesting insight ...

    Last i checked from multiple sources, and i may be wrong here, Hirco had nothing to sell .. besides Selene which won't be started for probably another year.. So, is there a basis for your contention that Hirco is not able to sell at their preferred rate given that they should be in no particular hurry to sell.

    Naive NRI's .. You could count me as 1 of them i guess .. I did see the site and loved it for all its potential and that of the area in general..
    I was offered several resale options at lower prices by my direct Hirco contact
    but preferred the cleaner option that i selected.
    Going through a broker is probabaly a worse option because he would want his cut and is in no position to offer anything extra than would a direct Hirco contact ..
    If i remember correctly, Hirco was launched at 3600 so if you claim to have got it at 3100, good for you .. Why would you want to sell it at launch price 3 years down the road .. beats the heck out of this naive NRI ..

    Hiranandani Powai is a seperate entity and i would assume is outside the scope of this discussion .. every business house has their own issues ..

    Construction quality at HIRCO .. Any basis for your comment that their construction quality was not upto the mark .. ?

    Elections in 2014 .. thats more than 2 years away .. You seriously expect Sena-BJP to provide serious competition to the Congress .. I guess it's possible .. just don't see any leadership with them ..
    Either way .. Hirco SEZ is under the preview of the central government ..and i haven't heard of any disputes of land ownership with this particular site .. Perhaps you coud enlighten us if you are aware of any ..

    More venom at NRI's .. :) I'm quite sure you don't need an NRI to sell at 3700. If you are not naive like us, you could probabaly save time and money, take out all middle layers and sell it back to Hirco at a better rate..

    Enjoy !!!!!



    Originally Posted by purvikpathak
    Are there any comparable projects at similar prices in Mira Road, Virar, Kalyan? I agree with you that people like to live in inhabitable areas.
    CommentQuote
  • Originally Posted by purvikpathak
    I have a 2.5 BHK (1499 sqft) in Aura. Will consider an offer of 3700 or nearest ones. I had purchased it at 3100. It is on 15th Floor (The slab is already laid) and am waving off the floor rise. Please send me a PM. Full white payment is ok with me.


    I own a 2.5BHk (1499 sqft) flat in Aura as well. I will be more than happy to accept this offer.
    CommentQuote
  • Originally Posted by purvikpathak
    I have a 2.5 BHK (1499 sqft) in Aura. Will consider an offer of 3700 or nearest ones. I had purchased it at 3100. It is on 15th Floor (The slab is already laid) and am waving off the floor rise. Please send me a PM. Full white payment is ok with me.


    Originally Posted by purvikpathak
    That is on paper. Hirco is not able to sell a single one at that rate. The economy is in terrible shape. No one wants to buy. All the buyers I have spoken to over past 6 months were offering 3300.
    Also the 4400 is for naive NRIs. They deal only with the builder so it is difficlut to get those bakras. Hirco does lot of marketing for NRIs and they book directly from Hirco's overseas office without seeing the site. Hirco is recently under strain as the high court has put stay order on any further developments in their Powai township. Also the court ordered Hiranandani to convert Hiranadani Powai into a slum by contructing 1500 flats of 400 sqft in the remaing land or by razing current buildings. See this link: HC directs Hiranandani to build affordable flats - Indian Express
    The courts are just stupid!!


    Originally Posted by purvikpathak
    If you see the news then you know what is happening :-)
    Anyways, even Indiabulls reduced its rate from 4800 to 3800 last month. They only have few 2BHK flats but they are still not getting any buyers.
    Hirco is further away and on lease land. I was not impressed with the construction quality at the site either. Also there is election in 2014 and the agent told me that while Hirco has good relation with current government, the new government may me pro-farmer and may cause them trouble as they got the lease land saying they will develop SEZ and jobs but there are no signs of any industry. It is more like the case in Greater Noida where Government in collusion with builder (in this case Hirco) gave away farmer land at cheap rates till until the farmers moved the high court. The agent suggested me 3500 but I am sticking to 3700. I am sure I will get one of the credulous NRIs, blinded by powai glitter, who will pay 3700. The agent told me that many US NRIs come flat-shopping during September school vaccation and I only need one. The dollar has risen 20% over last 1 year, they will definitely pay 3700.


    Originally Posted by bhushank4
    I own a 2.5BHk (1499 sqft) flat in Aura as well. I will be more than happy to accept this offer.

    I have taken token from a buyer at 3600 thanks to this forum, I had been trying for last 6 months. If you are willing to offer 3900 please send me a PM with your number. Thanks, do let me know asap.
    If you are a broker, not serious or cannot arrange full payment in 1 or 2 weeks, please excuse.
    CommentQuote
  • Vikas, many thanks for your suggestion. I did not think about this, I will ask Hirco if they are willing to buy at a better rate. Thanks again :-)
    CommentQuote
  • Hello Bhushan,
    I think Purvik is bluffing. If you contact Star Realty, you can get a rate of 3300 for 1st floor.
    CommentQuote
  • Originally Posted by purvikpathak
    I have taken token from a buyer at 3600 thanks to this forum, I had been trying for last 6 months. If you are willing to offer 3900 please send me a PM with your number. Thanks, do let me know asap.
    If you are a broker, not serious or cannot arrange full payment in 1 or 2 weeks, please excuse.


    NOT INTERESTED @3900/-
    ALSO FYI YOUR PM HAS BEEN BLOCKED BY THE MODERATORS.

    cheers
    B
    CommentQuote
  • can anyone please tell what happened so wrong in last 4 months .. i called up their office .. they still are not letting rs 50 off their rate of 4350 for serene .. and here ppl are talking abt selling at 3900 .. why so much difference ??? ..
    CommentQuote