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
Read more
Reply
1733 Replies
Sort by :Filter by :
  • HI I am in Selene - phase 2 - I have been told construction will not commence unitil q4 this year - does anybody have any other information on this tower? I am not worried about the delay BUT would just like honesty and transparency of when construction will commence - any feedback from anyone welcome!
    CommentQuote
  • Originally Posted by kalbinder
    HI I am in Selene - phase 2 - I have been told construction will not commence unitil q4 this year - does anybody have any other information on this tower? I am not worried about the delay BUT would just like honesty and transparency of when construction will commence - any feedback from anyone welcome!


    Kalbinder,

    You are right, the construction for Selene will not start untill end of this year. HIRCO is somehow non-committal on this. Omly risk that we are carrying is if for some reason they do not go ahead with Selene (due to approval or other reasons) Hirco will return the money to us without any interest. I have also booked in Selene.
    CommentQuote
  • Malkotia - I see no reason why Selene will not go ahead, it's just a matter of time and depending on your personal age it's one luxury we don't all have. You have to remember that this is a township project of total some 500 acres so it not going ahead is not plausible as there wil be many many more phases until total completion. Its a question of cash flow for HIRCO and if they can sell out Flora as well (tower adjacent to Selene). RIghtly so if I were Hirco I would want to get phase 1 completed and then move on. I personally went for Selene other than phase I -as in my opinion when phase 2 is completed it will be more liveable and should have more amenities e.g. The clubhouse . Your opinions welcome!
    CommentQuote
  • Malkotia - sent you a private message.
    CommentQuote
  • Originally Posted by kalbinder
    Malkotia - sent you a private message.


    Kalbinder, you are right it is very unlikely that a particular tower may not start. As they already have approval for so many towers so shouldn't be a problem as such. But whatever small still there is a possibility since approval for these towers is not in place ...and just think if they are so sure then why would the builder put a clause in the PAL that in case the tower does not start they will not pay any interest on the amount paid ...I do not want to sound negative. hirco is a big builder and the possibilities of that happening are very less but at the same time it can not be ruled out. Sorry I don't know where to read private messages.
    CommentQuote
  • I totally agree with Kalbinder. Since HPG has implemented phase 1 and they have also started work on the club house, i don't see any reason to worry. Its just a matter of time. For investors delays are better.... Gives us more time for the surrounding development.

    Don't worry until worry worries you, you can only double trouble and worry others too.
    CommentQuote
  • Hi savvy,

    Do you have any idea about rental demand here as of now.

    Humour
    CommentQuote
  • Just curious to know if most buyers are investors and NRIs or intend living here?
    CommentQuote
  • Malkotia - to view private message you have to login. Once logged in.....go to top right hand side of page -underneath your name you will see "private messages". click on that to view
    CommentQuote
  • Originally Posted by gaurang
    Who are you to tell anyone to exit from a particular project and not look back just because they commented negative on it ?? This is a open forum and instead of having just cheerleaders who keep praising a particular project we also need other side of the coin or story ... This is buying real estate and one has to be double and triple sure .. you are probably investing lacs and crores and not buying channa ....


    Hello Gaurang,

    That is a very good question to start with...And I guess you have already agreed with my point in indirect way...

    Let me start with a retrospective question...Who is anyone to do a personal attack by calling anyone HIRCO AGENTS? I agree that this a public forum and also agree with your point that we need to be double sure or probably n times sure before investing even a penny of your hard earned money...and also we must have negative points as much as we have positive ones...But it is highly disrespectful to initiate a personal attack. I am sure nobody is interested in getting onto this forum to get labelled or insulted. You come here to check and get updates on your investment and how is it doing. It is always good to hear positive points as much as it is good to know the concerns but I dont think I come here to get labelled or for that matter even you do not come here to get labelled. I hope you understand what I am saying here...If you dont, it is fine...

    And asking anyone to exit was a free piece of advice to those who instead of raising negative aspects launch personal attacks. Reading those comments is like watching Indian TV news channels who label a person culprit even before the trial by completely ignoring the other side of the story.



    Prakash :)
    CommentQuote
  • Originally Posted by Humour
    I totally agree with Kalbinder. Since HPG has implemented phase 1 and they have also started work on the club house, i don't see any reason to worry. Its just a matter of time. For investors delays are better.... Gives us more time for the surrounding development.

    Don't worry until worry worries you, you can only double trouble and worry others too.


    U r right. The delay in construction start is good for investor. Also there is a very less possibility that phase 2 will not start .. But theoretically there is a possibility. That is the point that I am trying to make. There are some people who do not want to think abt any risks and negatives. Also another point is we all have invested in the name of hiranndani but hirco is not true hiranndani and they have not delivered a project yet. Again I am not saying they cannot deliver. But they still have to build credentials.
    CommentQuote
  • I know I will be blamed for bringing negative throughout but please excuse me for the same since we are discussing abt the topic. Prior to 2008 Lehman brothers was considered a top notch bank and if you tell somebody anything against the bank probably people would have cellared you insane. Nobody ...yes nobody including highly paid analysts predicte it will go bust. The bank disappeared in a matter of one day. I saw clippings of bank employees running with their office stuff on the street. So please don't tell me that because we have invested with hirco we are only going to talk abt positives and going to kill anybody who brings in a different perspective ...
    CommentQuote
  • Originally Posted by malkotia
    I know I will be blamed for bringing negative throughout but please excuse me for the same since we are discussing abt the topic. Prior to 2008 Lehman brothers was considered a top notch bank and if you tell somebody anything against the bank probably people would have cellared you insane. Nobody ...yes nobody including highly paid analysts predicte it will go bust. The bank disappeared in a matter of one day. I saw clippings of bank employees running with their office stuff on the street. So please don't tell me that because we have invested with hirco we are only going to talk abt positives and going to kill anybody who brings in a different perspective ...


    Hello Malkotia,

    You brought forward a very good point. I agree that HIRCO has not delivered anything considerable as yet and whenever we have vested interest in anything, we MUST be looking at all the sides, be it, negative, cautious, promising, conservative, and so on...

    And I remember the Lehman days...and it opened eyes for so many people...

    We MUST use this forum for point of views and not limit to just Positive ones. But My only request is to be respectful of others and do not use a language which offends anyone. That was the only message that I wanted people to draw from all my conversations.

    Prakash
    CommentQuote
  • Hi Malkotia, I understand your concern. Nothing in this world is 100% guaranteed, other than death. There is always a calculated risk in investing anywhere. The more the risk the better are the returns.

    Since realestate in mumbai went up like crazy in the past 8 years, I wasn't comfortable investing in Mumbai. I left India 15 yrs ago and don't visit India much. I invested in Orion 2 years ago, and I was of the impression that HPG was part of hiranandani . I don't see any reason for concern with the delay in phase 2 as they are still working on Phase 1 and on my last visit Oct 2012, they said they will start working on phase 2 only after phase 1 is complete.
    If there is something in the news that should get us investors worried do educate us. Otherwise enjoy the 9% interest on the remaining amunt.

    Also worst case scenario for Phase 2 is we loose interest on the 20% for about 3 yrs. I am comfortable with that much risk.

    Cheers
    CommentQuote
  • Humour,

    I think we are on the same page and I am not saying that we are carrying a gr8 risk but we have to be open to all ideas (I like six thinking hats ..). This will help us in going to the builder jointly in case of any issues ...

    Just out of curiousity ..anybody knows full form of HIRCO ...Savvy might come to the rescue ..
    CommentQuote