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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  • Went to the site last week .. This is the information they provided.

    - A few flats available in Phase1 ..None in Phase2. Claimed a 50-50 enduser/investor mix for Phase1.

    - Phase 1 possession around mid-2014 ..residential, supermarket and 2 commercial buildings. MOU's signed for a majority of the commercial space.. Agreements to be signed around possession time.

    - indefinite shuttle service to Panvel station ..I think it took us around 20 mins to Vashi center by car which didn't look terribly bad ..

    - School, hospital more likely around Phase 2 once there was a critical mass of residents although they have given some thought to Phase 1 residents as well .. I didn't push for more details ..

    So, next 2 years should be an interesting time as things start to take shape ..

    Enjoy !!!
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  • Originally Posted by vikas123
    Went to the site last week .. This is the information they provided.

    - A few flats available in Phase1 ..None in Phase2. Claimed a 50-50 enduser/investor mix for Phase1.

    - Phase 1 possession around mid-2014 ..residential, supermarket and 2 commercial buildings. MOU's signed for a majority of the commercial space.. Agreements to be signed around possession time.

    - indefinite shuttle service to Panvel station ..I think it took us around 20 mins to Vashi center by car which didn't look terribly bad ..

    - School, hospital more likely around Phase 2 once there was a critical mass of residents although they have given some thought to Phase 1 residents as well .. I didn't push for more details ..

    So, next 2 years should be an interesting time as things start to take shape ..

    Enjoy !!!



    Vikas Sir

    Do you know what rate is going on for phase-I? how do you see it as an investment and end-use?

    Thank you
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  • Originally Posted by vinchi
    Hi ALL,
    I and my family wish all of u A VERY HAPPY NEW YEAR,with lots of love.


    vinchi ji one of friend looking to invest can u tell me what is total cost of 1 bhk and 2bhk and how is this area for investment for 5 years ?
    this is new panvel or old panvel ?
    hows the location ?

    any better area than this up to 40 lakhs budget

    plzz reply seniors and vinchi ji
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  • Cookie ..
    Rate is 4500 / 45 floor rise .. the available flat's, i believe are 2bhk's with a saleable of 1289. also, a significant portion of the cost is immediately due since most of the floors have been built.

    If all planned infrastructure projects are implemented, then this area should see good growth..

    Enjoy!!
    CommentQuote
  • Originally Posted by vikas123
    Went to the site last week .. This is the information they provided.

    - A few flats available in Phase1 ..None in Phase2. Claimed a 50-50 enduser/investor mix for Phase1.

    - Phase 1 possession around mid-2014 ..residential, supermarket and 2 commercial buildings. MOU's signed for a majority of the commercial space.. Agreements to be signed around possession time.

    - indefinite shuttle service to Panvel station ..I think it took us around 20 mins to Vashi center by car which didn't look terribly bad ..

    - School, hospital more likely around Phase 2 once there was a critical mass of residents although they have given some thought to Phase 1 residents as well .. I didn't push for more details ..

    So, next 2 years should be an interesting time as things start to take shape ..

    Enjoy !!!


    Vikas
    Hi
    New year Wishes for 2013.
    Well.
    GOOD NEWS that MOU are underway for commercials....
    Do u have any idea? when is Phase 2 Excavation will start?
    When PLINTH EXPECTED for phase-2.. have u asked them?
    I agree with u that the rates will rise once movement of residents,and commercial projects will flow in....:D
    Any huge project to develop like this will take time...
    But I am sure 4500 RATE looks bright at the moment .
    Once project will be in final completion say.. 2018-2020 I would guess Base rate might rise to at least 40-50 % rise..... So we might expect rate by 2018 as around 8-9 k Base rate.
    Whats ur take on this...?
    Regards..
    Savvy_v:)
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  • I really doubt about the MOU's......From where did you get this information?.....as far as i know there are no takers for the commercial property yet.....
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  • Hi Savvy,

    Very happy new year to you too ..
    They didn't have any firm commencement dates for Phase2. They could launch additional tower(s) before they start Phase 2.

    I expect there to be other township launches in that general area over the next few years leading to increased supply ..so i wouldn't want to speculate on prices ...

    Hi REALEBUYER,
    The Panvel site office customer rep mentioned this MOU info when i went there. She mentioned these would be mostly BPO/IT/services companies, the types they already have as clients at Powai and Thane.
    There is of course no way to verify her claims .. but having "no takers at all" seems a little improbabale to me ..

    Enjoy !!
    CommentQuote
  • I think for any Investor/End Buyer it is better to do some research on your own rather than believing Sales/Customer Rep as these guys only talk about the Positives of the Project.
    Considering the current trend in MMR and Mumbai commercial market this lady is certainly bluffing.....as far as Powai and Thane are concerned they belong to Hiranandani and not HIRCO...HIRCO is a separate entity and has got nothing to do with Hiranandani
    CommentQuote
  • Originally Posted by vikas123
    Cookie ..
    Rate is 4500 / 45 floor rise .. the available flat's, i believe are 2bhk's with a saleable of 1289. also, a significant portion of the cost is immediately due since most of the floors have been built.

    If all planned infrastructure projects are implemented, then this area should see good growth..

    Enjoy!!

    Thanks

    any idea about resale rates?
    CommentQuote
  • I have also heard that for new bookings they are charging 12L for Parking alone....can somebody confirm this..
    CommentQuote
  • Originally Posted by realebuyer
    I have also heard that for new bookings they are charging 12L for Parking alone....can somebody confirm this..

    12 Lacs for parking....
    CommentQuote
  • Hey guys,

    A few things here ..

    I think it is currently 8L for 2 spots .. most likely 1 of which is podium .. it has been on an upward trend in sync with the base rate ..

    No clue on resale rates and procedures ..

    REALEBUYER,
    Yep absolutely correct .. RE investments should be thoroughly researched ..
    To me this project offered a strong brand, a lower entry point, high growth area among a host of other +ve's.

    HIRCO is currently being managed by Priya, Niranjan's daughter ..
    If you spend some time researching the internet, you'll piece together a pretty interesting corporate story. Hpgpanvel.com calls the project as Hiranandani Palace Gardens.
    My sense is that they are interlinked in other ways ..
    I dug through a few layers and thought it was an acceptable level of risk ..

    Regarding commercial absorption, it seems to me that the current trend is to cut costs and to move to the outskirts like Airoli and Thane. I suspect Panvel would fall in the same category. I can think of several other advantages, but that could be just me ..

    Who were your sources for the "there are no takers" theory ? Are these people who do not materially benefit by sending their clients to HIRCO? I suppose only HRICO knows the true status .. If they construct 2 huge commercial buildings which are empty for a prolonged period of time, that would imply high maintenance costs and poor planning/execution . i hope they are smarter than that ...

    Enjoy !!!
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  • Hi Abhay1991,
    Nice to see u in this forum too,my take is it will take atleast another 8yrs,for the investment to grow,the area is good,i also heard many multinational companies r going to come to panvel.
    But for 40 lacks u will not get in hirco,yes around panvel u will.
    plz feel free if u need to ask anything.
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  • Originally Posted by realebuyer
    I have also heard that for new bookings they are charging 12L for Parking alone....can somebody confirm this..

    True 4lacs for each and minimum 3 parking for 3 bhk and 4 bhk...effective from 1 st jan 13
    CommentQuote
  • Originally Posted by Chrisindia
    True 4lacs for each and minimum 3 parking for 3 bhk and 4 bhk...effective from 1 st jan 13


    Hi CRIS...
    Usually people who buy 3 BHK or 4 BHK have big families...
    Its mandatory for builders to offer them 3 PARKING at least.
    People who can afford 3 bhk cost 4- bhk cost can afford parking fees too.
    & usually they are business man or an NRI's... he he..;)
    Affordability is always different for different people working in companies with variant salary amounts.

    Have a nice time.
    regards...
    savvy_v:)
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