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 silky85
    Sorry Savvy and Bhushan if my statemnets are against your vested interests. That is purely coincidental.

    HPG is not an issue dear Savvy and dear Bhushan.Its the dynamics of the ongoing conditions. People might know everything but marketing especially HARD SELLING can lure any customer to lose his senses and make wrong decisions.

    BelieVe me, even I suffer a dent in my Networth if RE prices comes down. Thats ok with me. But I WOULD BE SAD IF ANY PERSON LANDS HIMSELF IN THE BIGGEST MESS OF HIS LIFE TO FULFILL UNJUSTIFIED GREED OF SELECT FEW. I have seen many lives turn upside down because of wrong RE decisions.

    Its not criticism least of all RUDE taste.
    These are the facts that have been collected and reported in media.
    I just collate them and mention it here for people to consider all facts before taking a well informed and welll recollected decision that could have a huge impact on their life and lifestyle.

    I WOULD PREFER RATHER BE PERCEIVED RUDE AND STATING FACTS(STAIGHT TALK) RATHER THAN
    BE SWEET TONGUED AND MISLEADING OTHERS TO PART WITH THE LIFE LONG HARD EARNED MONEY(even if it is a surplus) OR BECOME SLAVE TO EMIs WITHOUT ANY LIFE OF THEIR OWN.


    News in TV9 yesterday. Sting operation on many builders in Mumbai uncovering their unfair practices and black money request.
    ED and CBI assured that there will be investigation
    TV9 has timed it to perfection.
    Public sentiment is against the Govt because of price hike
    Political parties including allies in Govt are against the Govt decision
    Govt is at its weakest in last 8 years.

    What is happening right now in RE is showing a trend.
    Govt passing the Housing Bill. Sting Operations. Maybe CBI/ED raids to follow on these RE companies.
    Maybe these raids wont yield anything but a message has been sent to builders.
    It indicates that Big fishes have made a kill and have moved out of the RE market.
    Same as what many big institutions did in Jan 2008 share market boom.

    Weak RE share prices. No Sales in RE market. Phantom of a debt on RE companies. :D
    Long term inventory(Sales Overhang) Cost of carrying on with these overhangs.:D
    Weak overall Indian Economy. Europe in dumps. US relying on QE3 money printing again. China is looking down too. IT/Software sector in long term downtrend. Govt stability in India is under huge doubt. Gvt change can have a huge impact on RE greed.

    Recession seems to be moving from West to East of the world map.
    First US, then UK. Maybe next is Asia.

    Read articles on nternet about the US baby boomer generation and how they will impact US economy around 2017.


    I REITERATE WISE PEOPLE SHOULD NOT VENTURE OUT IN RE TODAY INSPITE OF SOME BANKS THAT HAVE COLLUDED WITH THESE BUILDERS TO GAIN HANDSOMELY CUTTING SOME 0.25% HOME LOAN RATES. SUPRESS YOUR DESIRE TO INVEST/BUY IN RE FOR NEXT 6 MONTHS AT LEAST AND PRICES WILL BE SURELY BE DOWN.



    Well SILKY...
    I like your views ,but in a case of exam practical is different & theory is different.
    Practical point is the more u wait the more u loose.....

    Say Person A thinking;
    He thinks he is employed .... he has fixed salary... He needs house.....
    He is expecting his house in 4-5 years horizon.....
    Say person A salary is 40 k; so he can stay & save 30 k from same.....
    so 30 k 60 mths= 18 laks.....
    Now see scenario.... after 60 mths 60 laks saved value depreciates.......
    So he thinks after 5 years that i should have booked house 5 years back...
    He will loose 5 years, Money depreciated....
    and he has to start from scratch again.....
    RE PRIZE GONE UP....

    Say Person B thinking;
    Person B did not wait for 60 mths.....Same salary as person A.
    He continued his job furtehr, he has his house in time + he has same perks 40 k .....

    He saves money, Money saved on 4-5 years horizon.
    I mean if u have to have house after 4-5 years,whatever ur age right......

    so my point is u see where u belong to....
    plz read this story ;;


    Finance Ministry, bankers agree to resolve funding woes of realtors

    Comments Off | September 18, 2012 09:11am |Contributed by manoja
    MUMBAI: Cash-strapped realty players today sounded upbeat after the Finance Ministry and bankers agreed to look into their grievances, primarily related to funding.
    Financial Services Secretary D K Mittal today met here bankers and the real estate developers body CREDAI and discussed various issues affecting the sector.
    “We have seen very serious commitment by the government in creating more housing stock. During the meeting, Mittal asked banks to focus on funding under-construction projects which have been delayed…. a positive sign for developers who are facing liquidity crunch,” CREDAI national president Lalit Kumar Jain told reporters after the meeting.
    Jain said the secretary asked banks to fund under-construction projects on priority basis as well as projects in tier II and III cities.
    “Many projects were stalled due to lack of funds. This will help in creating more stock, especially in small towns,” Jain said, adding issues like approvals and clearances were also discussed at the meeting.
    “Bankers have also agreed that factors like delay in project approvals, limitation on availability of land for real estate and even the FSI restrictions should be addressed, as they become a major hurdle when it comes to funding. If this issue is addressed, it will help create adequate stock,” Jain said.
    Mittal also asked the real estate apex body, Confederation of Real Estate Developer’s Associations of India (CREDAI), to conduct a survey of unsold housing stock so that a decision could be taken on unlocking their value, Jain said.
    “There has been a general perception that developers are holding on to inventories to push up property prices. But the reality is different. We will appoint a consultant and conduct a survey as directed by the secretary, to find out the actual status of housing stock,” he said.
    “At present there is no method available to get the information on the actual status of the stock. We will do it through a credible agency. We will soon finalise the agency to do the job,” Jain said.
    SOURCE;


    Finance Ministry, bankers agree to resolve funding woes of realtors - The Economic Times


    savvy_v:)
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  • Aura - Slab#26 complete

    Dear All
    We have received demand note for Aura slab#26 completion...
    cheers
    B
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  • Hi

    Hi Bhushan,

    Have they been sending any constructions pics that you could upload ..

    Thanks!!!

    Originally Posted by bhushank4
    Dear All
    We have received demand note for Aura slab#26 completion...
    cheers
    B
    CommentQuote
  • get your bearings right

    Originally Posted by savvy_v
    Well SILKY...
    I like your views ,but in a case of exam practical is different & theory is different.
    Practical point is the more u wait the more u loose.....

    Finance Ministry, bankers agree to resolve funding woes of realtors - The Economic Times


    savvy_v:)


    Beloved savvy, Maybe you need to get your bearings right. How can you be so uninformed? You seem to be tired and no having any solid points for discussions. :) Dear, whatever I am mentioning in this forum is facts entire world is experiencing. Just that I am trying to put these pieces of facts together and trying to present the big picture.


    The general assumption is that the RE market will see one way i.e up.
    Markets are driven by greed and PRACTICAL POINT IS that greed has legs(both up and down).
    In recent past the frenzy around RE(actually nowadays RE demand has come down significantly) is the same as that in stock market boom exhuberance in early 2008.

    Markets will have its significant up and downs. This is the law of economics. No matter how much certain vested groups try to hold it together. At a certain these group will make their moolah and vanish from the markets only to re-enter at significantly lower levels.

    You can feel the jitters among relators now. Rupee is becoming a bit stronger.
    I dont pay attention to such articles. The politician builder bank nexus is well known. I reiterate that if potential buyers are ready to stick it out and not encourage these realtors to fool themselves, then the buyers will be in for huge discount. 2009-2012 till date is history equations... have changed now.. From a sellers market it has become a buyers market.

    Banks might give them loans. Govt might give them facilities. What is the use of these things if there is no demand? We have to ensure that there is abyssmal demand for these realtors in next 6 months minimum. I can see a significant dent in realtors confidence & arrogance (that the had few years back)

    Cracks have started appearing. Lets make it a full fledged hole.
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  • Originally Posted by vikas123
    Hi Bhushan,

    Have they been sending any constructions pics that you could upload ..

    Thanks!!!


    hi Vikas
    Last pics were sent in Apr'12 after they completed 16 slabs of almost all buildings in phase#1. These pics are available on Hiranandani Palace Gardens - HPG Panvel - Mumbai under "Construction Updates". They have completed 10 more slabs since then at least as far as Aura bldg is concerned. I expect next upload of pics soon on their said website...
    cheers
    B
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  • Phase 2

    I am new to this forum. Has anyone bought flats in Orion. Any info about when they plan to start building the 3 buildings in phase 2.

    Thanks
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  • orion

    i have a unit too at orion,the construction will start may be in dec 2012 or jan 2013,you may be not be knowing the location is changed of all three bldg.
    thanks
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  • Originally Posted by vinchi
    i have a unit too at orion,the construction will start may be in dec 2012 or jan 2013,you may be not be knowing the location is changed of all three bldg.
    thanks


    Hi Vinchi

    please upload the new site layout if you got it....

    many thanks,
    B
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  • Originally Posted by silky85

    You can feel the jitters among relators now. Rupee is becoming a bit stronger.
    I dont pay attention to such articles. The politician builder bank nexus is well known. I reiterate that if potential buyers are ready to stick it out and not encourage these realtors to fool themselves, then the buyers will be in for huge discount. 2009-2012 till date is history equations... have changed now.. From a sellers market it has become a buyers market.

    Banks might give them loans. Govt might give them facilities. What is the use of these things if there is no demand? We have to ensure that there is abyssmal demand for these realtors in next 6 months minimum. I can see a significant dent in realtors confidence & arrogance (that the had few years back)

    Cracks have started appearing. Lets make it a full fledged hole.


    The demand currently is already at its lowest as compared to the last 3 years (based on registration data), builders are inviting brokers and giving significant brokerage and other sales incentives as compared to the past when they wouldnt even entertain them.

    However the crux of the problem is the holding power of bigger builders/investors, between them they control 80% of the RE market, with the rest 20% being in hands of comparatively smaller builders/investors/2nd/3rd home buyers.

    For the bigger builders/investors the holding power is coming directly from black money which they do not have any other alternative to park in. In such a scenario price stagnation is a more likelier option, the only correction that we will see is with smaller builders or investors. In this segment there is a marginal correction already and you have to explore the market to get a good deal as construction quality/locality might not be very good.

    I have been searching for a home myself and finally came to the conclusion that prices are going to remain stagnant for a while (Except in builders imaginary rate sheet :D) thus if you are planning to buy try saving as much as possible in the next 1 year and try buying a flat with max downpayment in 2014 (every 1 lac extra downpayment shaves of 2.4lacs ultimately ) plus if there is some softening of prices due to election then it would be an added bonus :)
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  • HPG Panvel

    Hi everybody,
    can anyone please tell me about future of the project? People working in Mumbai can not stay far away. There is no doubt that this project will get completed fully with amenities but only question is whether anybody is going to reside in the same and fast selling with appreciation value of the flat.
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  • Originally Posted by Ajay2010
    Hi everybody,
    can anyone please tell me about future of the project? People working in Mumbai can not stay far away. There is no doubt that this project will get completed fully with amenities but only question is whether anybody is going to reside in the same and fast selling with appreciation value of the flat.


    I think this project is more of a bet on Navi Mumbai emerging as the new hub, thus it is targeted at people who would be commuting to commercial hubs in Navi Mumbai, also if MTHL comes up then it would take 45 minutes to reach Dadar, it is a long term bet given the slow pace of infra development in Mumbai. Also if BJP/Sena govt comes up in the next elections then their focus would be more on Kalyan given that they have more interests in that pocket.

    For someone commuting to Mumbai, unless MTHL comes up it would be a painful 2.5-3 hour commute one side depending on location.
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  • Originally Posted by pande1
    I think this project is more of a bet on Navi Mumbai emerging as the new hub, thus it is targeted at people who would be commuting to commercial hubs in Navi Mumbai, also if MTHL comes up then it would take 45 minutes to reach Dadar, it is a long term bet given the slow pace of infra development in Mumbai.


    Agree with Pande1, but one cannot disregard the emergence of New Panvel as commercial hub in its own with several SEZ projects coming up in and around this area. HPG itself is a SEZ project. So in long term there will be a lot of job opportunities in New Panvel itself. For those who have invested in residential / commercial properties will definitely reap high rewards 10 years down the line. Also would like to emphasize the importance of the other side of New Panvel that is Pune and its outskirts. Places like Hinjewadi (Hinjawadi - Wikipedia, the free encyclopedia) are fast developing and are definitely at commutable distance even at present by road from New Panvel.

    cheers
    B
    CommentQuote
  • Originally Posted by bhushank4
    Agree with Pande1, but one cannot disregard the emergence of New Panvel as commercial hub in its own with several SEZ projects coming up in and around this area. HPG itself is a SEZ project. So in long term there will be a lot of job opportunities in New Panvel itself. For those who have invested in residential / commercial properties will definitely reap high rewards 10 years down the line. Also would like to emphasize the importance of the other side of New Panvel that is Pune and its outskirts. Places like Hinjewadi (Hinjawadi - Wikipedia, the free encyclopedia) are fast developing and are definitely at commutable distance even at present by road from New Panvel.

    cheers
    B


    True, however given that prices in New Panvel match prices in Hinjewadi, it wouldnt make much sense to add a 100km commute to Pune :)

    However I agree that RE investments yield true returns in 10 years time and given that it indeed is midway from Mumbai and Pune this area has potential of experiencing significant growth.

    That being said, I would like to add the following qualifiers...

    1. Mumbai itself is not experiencing much commercial growth (office rentals have fallen to 2009 levels in BKC, which would suggest that demand for commercial realty is currently experiencing a downtrend and by some estimates it will take another 3-5 years to absorb capacity in Mumbai itself)

    2. Emergence of Nashik, Nagpur and Aurangabad as the new hubs for commercial and industrial activities (these areas have also experienced significant growth in RE prices)

    3. Emergence of competitive alternate hubs like NCR/Bengaluru/Hyderabad/Chennai/Ahemadabad will bring in stiff competition in attracting commercial activities

    4. Population in Mumbai has stabilized in the last 10 years or so, thus no reason to believe that it would expand significantly in the next 10 years, this would make growth in Navi Mumbai's suburbs a bit on the slower side
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  • Anybody from Atlas building?
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  • Originally Posted by pande1
    True, however given that prices in New Panvel match prices in Hinjewadi, it wouldnt make much sense to add a 100km commute to Pune :)

    Being born and brought up in Mumbai, I might do it just for the pleasure and pride of being called - Mumbaikar or Navi Mumbaikar for that matter :)

    Originally Posted by pande1
    1. Mumbai itself is not experiencing much commercial growth (office rentals have fallen to 2009 levels in BKC, which would suggest that demand for commercial realty is currently experiencing a downtrend and by some estimates it will take another 3-5 years to absorb capacity in Mumbai itself)


    Main reason for Mumbai experiencing little or no growth at the moment because Big Banners are getting dissuaded by lack of infrastructure sufficient to support the growth. You may blame it on lack of pro-activeness of Govt of Mah in this regards. On other hand, learning their lessons from Mumbai, Govt of Mah has been doing planned development of Navi Mumbai and suburbs, which is more attractive to the big banner companies both Indian and MNCs. Number of companies that have set up their offices and headquarters in Navi Mumbai speak volumes for the same.

    Originally Posted by pande1
    2. Emergence of Nashik, Nagpur and Aurangabad as the new hubs for commercial and industrial activities (these areas have also experienced significant growth in RE prices)


    None of these new hubs will have the advantage of strategic location enjoyed by New Panvel. Also, if all the infrastructure projects in and around New Panvel develop in next 10 years, these hubs will not be anywhere near (in comparison to) New Panvel.

    Originally Posted by pande1
    3. Emergence of competitive alternate hubs like NCR/Bengaluru/Hyderabad/Chennai/Ahemadabad will bring in stiff competition in attracting commercial activities


    These are not emerging, but one can call them already emerged or at least emerging from last many many years, so lets not compare apples with oranges. :)

    Originally Posted by pande1
    4. Population in Mumbai has stabilized in the last 10 years or so, thus no reason to believe that it would expand significantly in the next 10 years, this would make growth in Navi Mumbai's suburbs a bit on the slower side


    Slowly but surely people are realizing that we cannot put any further pressure on resources like land and water in Mumbai. 10 years down the line, with availability of all facilities that are currently in Mumbai - in New Panvel, along with a superior infrastructure and planned execution, I don't think growth of Navi Mumbai and suburbs will be dependent on that of Mumbai - in near future.

    cheers
    B
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