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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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  • #41

    #41

    Re : Palace Garden, Hirco Group, Panvel, Mumbai

    HI donkeykong

    i know that but staying too far that doesn't makes sense and also not sure on the appreciation.

    Ashky

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    • #42

      #42

      Re : Palace Garden, Hirco Group, Panvel, Mumbai

      Hirco Panvel is on LEASEHOLD

      I just wanted to highlight that Hirco Panvel is on LEASEHOLD for 99 years and not on Freehold like Hirco Chennai or other Hiranandani flats. They are not metioning this while booking and taking advantage of the ignorance of the customer. I other words you are not owing your flat, but paying a huge amount as lease rent till 99 years and your successor cannot have any right after 99 years (until and unless the matter is resolved legally)

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      • #43

        #43

        Re : Palace Garden, Hirco Group, Panvel, Mumbai

        Hi Bhushan,
        Fantastic Analysis. Quite appreciated. BTW, I needed to know, what do you think about the leasehold of this land by HIRCO. For me as an amateur to Real estate investing, I am not sure how it matters, but you think HIRCo should buy this land for themselves rather than going for Leasehold ?? I mean such good & reputed builder going for leasehold isn't justifiable.

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        • #44

          #44

          Re : Palace Garden, Hirco Group, Panvel, Mumbai

          Hi Bhushan,
          I had another query since you have made so nice analysis.
          1) I am lookin to buy a flat in brooks. Which is facing East Side. Do you know if this is facing the matheran mountains ?
          2) How do you see the development of Panvel 10 Years from now as an investment into real estate here.
          thanks for your assistance.

          Comment

          • #45

            #45

            Re : Palace Garden, Hirco Group, Panvel, Mumbai

            Originally posted by AmateurREInvestor View Post
            Hi Bhushan,
            Fantastic Analysis. Quite appreciated. BTW, I needed to know, what do you think about the leasehold of this land by HIRCO. For me as an amateur to Real estate investing, I am not sure how it matters, but you think HIRCo should buy this land for themselves rather than going for Leasehold ?? I mean such good & reputed builder going for leasehold isn't justifiable.
            AREInvestor,

            thanks for your compliments...

            the matter of HPG being built on leasehold land has been much spoken about and thats what is bothering many people, but if you think about it in a little bit practical way, it woudln't bother u at all. This strictly is my personal opinion and wouldn't like to impose my views on anyone....
            I haven't lost my sleep over this issue because....
            Lease of 99yrs. means we are talking about at least 3 generations.... I would like to ask... how many people out here are currently living in houses that are even a couple of generations (or in other words more than 60yrs) old?.... moreover i wouldn't like my great grand children to depend on the property bought by their great grand father... rather I would like to see them (i m 30 already, so most probably from heavens ) build their own houses. Luxurious amenities and surrondings that are being provided in HPG today will definitely look v.v.out-dated only in 50yrs down the line (forget abt 99yrs.), therefore if someone is doing decently well in his life there will be a definite inclination towards selling off this flat and go to a better place in 50yrs or even less.... God forbid even if I go bankrupt, even then the tendency will be to sell of this flat even earlier than the former scenario..... and I am sure after 10yrs and within 50 yrs if you sell this flat you can only gain a lot of money by doing so. Therefore logically speaking I don't see any risk as such in settling down in this flat as of now ie once it is built.

            Also as you said, there is every possibility that Hirco would actually buy this land in future, since they are also going to build a large number of commercial properties within the project and it will be in their own interest to get the land in their name rather than continue leasing it. But i don't see them doing this before completely developing this Project. And I m sure that by the time this project is complete everyone who hasn't invested here just because of the leasehold issue would have already missed the bus.

            Hope I made my point clear
            Last edited May 3 2010, 12:28 PM.

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            • #46

              #46

              Re : Palace Garden, Hirco Group, Panvel, Mumbai

              Originally posted by AmateurREInvestor View Post
              Hi Bhushan,
              I had another query since you have made so nice analysis.
              1) I am lookin to buy a flat in brooks. Which is facing East Side. Do you know if this is facing the matheran mountains ?
              2) How do you see the development of Panvel 10 Years from now as an investment into real estate here.
              thanks for your assistance.
              Dear AREInvestor,

              I hope you have been shown the updated HPG residential buildings' plan by Hirco.As I am their existing customer, I have received the updated plan already (received it last week), and I really appreciate Hirco appointing a relationship manager who provides such updates from time-to-time.

              As per the new plan I can see that Brooks and Cambridge are the only two bldgs having the luxury of substantial views for flats on both North and South sides of the bldg. For eg. Brooks flats#2&3 (on North side) will have a good club-house view, a river view and there are mountains (not matheran mountains) to be viewed beyond all this.
              whereas flats#1&4 (on South side) and especially the higher floor flats will have an exotic matheran mountains' view.
              If you are looking to buy a flat which is on East side then it has to be flat#3 or flat#4, and in this case I would recommend flat#4 on a higher floor as you can have a good view of Matheran mountains as well as a glimpse of clubhouse on the North side.
              Please be advised that my above recommendation is only good-view oriented and I have no idea whatsoever if that is also a v good vastu complaint flat.

              As far as development of Panvel is concerned, lot depends on how efficiently our current and future Maharashtra Govts are able to implement their dev plans for New Panvel... Among others I rate the Proposed Navi Mumbai Airport completion and modernisation / extension of railway transport and the Energy City project development to be the key factors in the overall development of New Panvel in the next 10 yrs.

              cheers
              -Bhushan
              Last edited May 3 2010, 12:36 PM.

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              • #47

                #47

                Re : Palace Garden, Hirco Group, Panvel, Mumbai

                Does anyone know about the rate / sqft. I think HIDCO increase it from 3600 - 3800. thoughts anyone?

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                • #48

                  #48

                  Re : Palace Garden, Hirco Group, Panvel, Mumbai

                  Kalpataru Riverside

                  I was interested in Hiranandani .. but then a friend pointed out that "Kalpataru Riverside" project is much better located than hiranandani.. i think it is closer to the station and airport by 13-15 km.. the last price rate I got was 3500 psft at kalpataru.

                  but in any case toward the end i decided not to invest in real estate.. it is too much on shaky grounds.. i dont believe the price will last.. even if it will. it is not worth it.. i rather spend that kind of money on some other location or even do an international investment..

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                  • #49

                    #49

                    Re : Palace Garden, Hirco Group, Panvel, Mumbai

                    Originally posted by donkeykong View Post
                    Does anyone know about the rate / sqft. I think HIDCO increase it from 3600 - 3800. thoughts anyone?
                    i can confirm this, as I just received a sample quote for their latest launch - Cambridge and the base rate has been quoted: 3800/-.

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                    • #50

                      #50

                      Re : Palace Garden, Hirco Group, Panvel, Mumbai

                      bhushan are you planning to negotiate? dont you think 3800 is a little too high?

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