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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  • Question ..

    Hey guys,
    A lot of people have used this "middle of nowhere" comment which i find very interesting ..

    From what i have been told, HIRCO owns all the land from the old highway to the new highway, where they are currently constructing .. Google Maps tells me it's 9 kms or 7 mins from Indiabulls on the xpressway ..

    Question for people who have frequently travelled on the expressway, is that a significant differentiating factor ?

    Enjoy !!
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  • there is a post that talks about what people felt like when they visited the site, i want to be mindful of the investors who have invested here ..so i guess i would say that it may develop at some point but currently looks like its in the middle of nowhere..again for the investors here, i wish them nothing but luck..
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  • out of curiosity, have you personally visited the site ?

    I've been to IB and Hirco once each ..
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  • yes i have and that's why I say..but enough of HIRCO bashing...in `10 years it may be viable but for now it doesnt look as if it is..good luck !
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  • Don't get me wrong here kong ..all comments are very valuable feedback .. and good luck to you too in all your endevaours ..

    I have not seen anyone claim that Hirco is livable now or even in the near future ..
    The question is , if and when projects like IB and HIRCO become "viable"( or well settled in my words), would it be out of reach .. Personally to me, 4500 sems to be a pretty rich price ..

    Everyone buying in IB, HIRCO and other neighboring properties have their own time horizons, capacities and perspectives and i respect all of them ..

    This is my point ..
    For years now, many have commented IB's relative proximity to Panvel and HIRCO being in the middle of nowhere as important factors ..
    So, my very specific question to people who have frequently travelled along that route was what they thought of the above since i'm not qualified to answer this and based on the actual distance between the 2, it doesen't seem to be terribly significant..

    Bhushan, whats your opinion ...

    Enjoy !!
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  • no worries ....good luck to u as well.
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  • in 2000 , powai was in "middle of nowhere" .. just a thought....

    I am sure by 2016-17 .. it will boom..
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  • Originally Posted by donkeykong
    no worries ....good luck to u as well.


    Dear D & K

    Please go through details quoted here from net; http://homeguides.sfgate.com

    The Advantages & Disadvantages of Investing in Real Estate

    Investing in real estate is not for the faint of heart. There are many variables that make real estate investing significantly profitable. On the other hand, the same variables may cost investors far more than what they bargained for. Before investing in real estate, understand the advantages and disadvantages of such a venture.

    Investing in real estate is not for the faint of heart. There are many variables that make real estate investing significantly profitable. On the other hand, the same variables may cost investors far more than what they bargained for. Before investing in real estate, understand the advantages and disadvantages of such a venture.



    This precious metal we expect to excel over gold. Free investor rpt.





    Significant Profits

    There can be a major advantage to investing in real estate if you find property at a price low enough to result in a significant profit. For example, some investors buy real estate they intend to flip. Flipping can result in huge profits for investors. The property may be in foreclosure, in danger of foreclosure or needs little or no repair. You may purchase the property for much less than its value, repair or update it, and resell or flip it at a much higher selling price. Exercise extreme caution in this kind of venture.

    Ongoing Additional Income

    Another advantage to real estate investing is the rent derived from rental property. It can result in ongoing, additional income. Over time, additional income may enable you to take a dream vacation, buy a long-awaited speed boat or grow your retirement fund.

    Access to Credit

    Contingent on a variety of factors, additional income generated from real estate investments may give you access to more credit. Generally, lending institutions lend more money to people who make more money. The additional income made from real estate investments may open broader credit lending doors.

    Leave a Legacy

    Real estate may be willed to family members after your death. You could leave a legacy for your children by investing in real estate.

    Finding Financing

    Investing in real estate has its disadvantages. Lending institutions are very careful about whom they lend to, often requiring a 20 percent or more down payment. Sometimes finding a loan for investment property presents a formidable task. . You may find that securing financing for an investment property is all possible.

    Debt

    Investors often do not have the cash to pay outright for a property. Instead, they typically take out loans. That results in more debt for the investor. If you purchase a property for flipping and it does not sell, you are stuck with the debt and with paying on the debt until the property does sell. If you invest in rental property, it would also be a great detriment if the renter stopped paying his rent and you had to go through the courts to remove the renter. You would not only be stuck paying the payments on the debt, but more debt would be created by hiring an attorney to remove the renter.




    Hope people understand meaning of investing...;)
    savvy_v:)
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  • +1
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  • Hi DonkeyKong,
    my view is one of the best builder in INDIA would not buy a land where it does not make sense 2)the airport and the link bridge would also not come up in the middle of nowhere,which u say 3)as of date there is not a single flat or apt from the builder directly,u can get only Re-Sale apts.Enjoy and also plz advice if u have any good deals or suggestion.thx.
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  • my friend vinchi...who doesnt make a mistake at some point it may be a hot zone in 20 years but currently it is not...and they haven't opened the new phase, when they will u can certainly reach out to them..i agree that hiranandani is one of the best builders, however there are others like lodha, omkar, oberoi as well..the dynamics are shifting...good luck.


    Originally Posted by vinchi
    Hi DonkeyKong,
    my view is one of the best builder in INDIA would not buy a land where it does not make sense 2)the airport and the link bridge would also not come up in the middle of nowhere,which u say 3)as of date there is not a single flat or apt from the builder directly,u can get only Re-Sale apts.Enjoy and also plz advice if u have any good deals or suggestion.thx.
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  • Hi ChrisINDIA,
    IS YOUR APT 2210 OR 2201, THX
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  • DonkeyKong,
    Mistakes r made by people like u and me,I agree it will take more few years for the surrondings to develop,as u may know there is no land now in Mumbai,may be few here and there.and no one is talking about staying right now at hirco.
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  • Originally Posted by vinchi
    DonkeyKong,
    Mistakes r made by people like u and me,I agree it will take more few years for the surrondings to develop,as u may know there is no land now in Mumbai,may be few here and there.and no one is talking about staying right now at hirco.


    Vinchi.
    I heard that HIRCO Planning to have more LAND BANK in this part ...
    + The TOWNSHIP REQUIRES MORE LAND>.....;)
    FOR VIEWERS; HIRCO-INTERIM REPORT ATTACHED FOR 2012.

    REGARDS,
    savvy_v:)
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  • THIS QUESTION IS FOR THOSE BUYERS WHO REPEATEDLY ASK WHATS APPRECIATION ..?????

    TO APPRECIATE A PROPERTY NEEDS TIME, AS LIKE BANKING INTEREST,COMPOUNDING & CUMULATIVE....
    PEOPLE EXPECT COST OF REAL ESTATE TO HYPE IN MONTHS, ITS NOT LIKE THAT... OVER A PERIOD OF TIME, COST OF LAND/PLOT/FLAT APPRECIATES...AND U NEED PATIENCE....

    HAVE A NICE DAY READERSSSS...

    SAVVY_V
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