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 savvy_v
    Cris, U r absolutely right...
    Want to share this with u, please read word by word..
    http://www.prres.net/papers/Sonia%20_Real_Estate_Sector_The_India_Story.pdf

    its, regarding;
    Real Estate Sector – The India Story

    Current Scenario of the Real Estate Market in India
    Commercial real estate sector is in boom in India. In the last fifteen years, post liberalization of the economy, Indian real estate business has taken an upturn and is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10 years. This growth can be attributed to favorable demographics, increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favorable reforms initiated by the government to attract global investors


    Submitted by Miss Sonia Sahni
    Asst Manager Corporate and Investment Banking,
    ABN AMRO Bank Nariman Point Mumbai
    India 400021

    After reading u can put ur thoughts....


    savvy_v:)

    If only 25 percentage gets through just imagine ....we will return to double digit growth over all and if can hold on for the next 5 years ....we will be a powerful nation(I mean in the sense of prosperity ).... This lady is predicting 102 billion(men are known to hold and have knowledge , women have earthly wisdom!!!!!!!!!?)we got to cut to the chase and have only good sense prevail.....between political parties...and educate one and All in all aspects not only academics....we will be there...we will be the....by the way Selene plinth will be ready by dec 13...!!!!!!
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  • Does india changing with current scenario of re

    .by the way Selene plinth will be ready by dec 13...!!!!!!


    Well, CRIS..
    An Indian working abroad can only have 2 options, keep earning abroad, and dream one house at the end either abroad, or In India.
    We are Indians & hence since our passport is INDIAN NATIONALITY, all NRI's baring few will send tehir money to INDIA.
    Its huge revenue for GOVT.

    Indian have no quality life when he returns Homeland.
    Its high time we shud have policies & change our scenario to attract FDI, foor a sustainable rise in GROWTH, otherwise we will be like thsi even after 100 years...!!!!!

    I understand the facts, RE is booming and will boom in near 3-5 years from now.
    India has witnessed an absolute metamorphosis over the last decade. Sprawling cities, flourishing businesses, higher standard of living are all indicators of unprecedented growth, globalisation, urbanisation, expansion and diversification.
    Infrastructure modernisation and development is said to be the key driver of all the growth and economic activity.
    The Indian infrastructure sector is at an inflection point and there are immense opportunities for the private sector. Although the sector is booming, there are hindrances in the smooth development .
    Well, Its teh WILL which changes picture of teh country.
    The present govt is in dupe.
    Hope if any major change in policies will enhance some hope for people who are returning to India for better lifestyle .

    IF SELENE PLINTH is DEC 2013, then VENUS also will be same , what I feel.
    Hopefully by dec 2017 we will get possession...

    savvy_v
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  • Panvel is realtors’ new El Dorado

    MUMBAI: With real estate prices set to taper off in the near future, Mumbai’s property tycoons are shifting focus to beat the business cycle. The new buzzword among developers is townships.

    Almost everyone is rushing to buy huge tracts of land on the city’s periphery. Among the target areas are Panvel (50km from the city), Khopoli (89km), Vasai (over 50km), and Virar (60km).

    Two factors have triggered the trend. One, the Special Township Scheme (STS) under the Maharashtra Regional and Town Planning Act has removed most of the regulatory bottlenecks in developing land. Among other things, the amended act allows developers to convert agricultural land into a non-agricultural tract automatically, halves stamp duty, and keeps townships out of the purview of the Urban Land Ceiling Act.

    Two, it allows builders to scale up and expand their businesses at a regular pace despite booms and busts. “Developers have had to change business models as they started getting listed on stock exchanges,” said the managing director of an international real estate fund who is currently considering several such projects. “Large township projects give them volumes and cheap land,” he said. “The projects help developers average out their earnings against real estate cycles. Today, land cost constitutes 60 per cent of the total project cost in metros. It is as low as 20 per cent on the outskirts.”

    “Land is scarce in Mumbai and townships give developers scale and volumes along with sops under the Town Planning Act,” said Niranjan Hiranandani, the managing director of the Hiranandani Group.

    In the past three months, realtors have gobbled up over 2,500 acres of land in Panvel and surrounding regions. The Evershine Group, known for its 256 acre township near Virar railway station, may be going in for another ambitious project. The developer has purchased around 1,200 acres from a New Mumbai-based property broker, Yogesh Jhawar.

    The Hiranandani Group, known for its mega-projects in Mumbai, holds around 250 acres in Rasayani, an industrial town on the Mumbai-Pune highway. Rasayani already hosts the factories of companies such as Reliance, Cipla, and Siyaram. Hiranandani is also in the process of acquiring another 1,000 acres at Thane’s Ghodbunder Road, close to the diversion that links the central suburb to Bhayandar on the western side.

    The Neelkanth and Marathon groups, which have developed properties in Ghatkopar and Lower Parel, among other places, have purchased 250 acres and 500 acres, respectively, between Panvel and Khopoli. Other developers, too, are eyeing this 30km stretch.

    Pune-based Rohan Group has bought 110 acres of land, about 7km from Panvel station, while the Delhi-based DLF, along with city-based Akruti Nirman, is finalising the purchase of another 1,100 acres. Akruti, known for its slum redevelopment projects in Mumbai, has 400 acres in the area.

    Most developers are shopping in Panvel or in its proximity. “This will be the quickest developing region in the future,” said Mukesh Patel, the promoter of the Neelkanth Group. “It is gaining prominence with the announcement of projects such as the international airport, the new passenger train terminal , and Reliance’s upcoming special economic zones.”

    Patel said when compared with Virar and Vasai, the area has fewer water problems. “Power shortage is expected to ease, thanks to the two power plants being built in the area,” he said. “It takes about an hour and 10 minutes to reach the other end of the city – the CST station in south Mumbai – from Panvel.” Patel is awaiting regulatory approval for his 250 acre township located around 7km from the Panvel railway station.

    Akruti Nirman, which was recently listed on the National Stock Exchange, is also awaiting township approval in the Panvel region. The developer is looking at areas beyond New Mumbai, considering future demand for housing. “At the current growth rate, Greater Mumbai’s population is expected to double by 2020. Where else will these people live?” said Hemant Shah, chairman of Akruti Nirman.

    Shah believes that the Mumbai-Pune corridor will develop rapidly in the next decade as the boundaries between the two cities become blurred. “Plus, it makes more business sense to focus here as we expect good volumes with cheaper input costs,” Shah said.

    Most of the deals in Panvel have been sealed in the price range of Rs15 lakh to Rs40 lakh per acre, according to Jhawar, the broker who sold a large parcel of land to Evershine. “The price of land varies according to its proximity to the railway station and the highway,” Patel said. “Land close to the highway or the station costs as much as Rs40 lakh an acre. It can drop to one-fourth that rate in certain cases.”

    The cost of land also depends on the requirements of the developer. The larger the plot, the more a broker can demand for it. Under the Special Township Scheme, the minimum requirement is 100 acres, but the land needs to be one or contiguous piece. The land is aggregated from local villagers, with a no-objection certificate obtained from local panchayats.

    Townships are bankable propositions because the Act gives concessions to developers, including a higher floor space index, which translates to double the number of saleable units, and the development charges payable to the government are lower by 50 per cent. The Act also relaxes the Urban Land Ceiling provisos Act and allows developers to construct on agricultural land.

    The developer, on his part, has to provide integrated facilities within the boundaries of the declared township, including power, roads, water, streetlights, drainage, and a solid-waste disposal system. The Act also states that the builder needs to obtain local clearance and must submit a letter of intent within one year of coming into possession of 50 per cent of the total land.

    The Neelkanth Group estimates the minimum development cost for special townships at Rs100 per sq ft (or about Rs40.4 lakh an acre, for the roads and basic infrastructure). This does not include the cost of water supply and power, which can be sourced from local authorities. The construction and land costs are extra.

    Hiranandani, who is not so bullish on Panvel in the near future, said: “A quality project should cost around Rs400 per sq ft (or Rs1.7 crore an acre), including water supply and power.” He said the gestation period for these developments varies from three to seven years. Shah of Akruti Nirman agreed with that view: “Two years are needed to set up the basic infrastructure.”

    The jury is out on how soon these projects will materialise, but time is on the developers’ side. The population of Mumbai, Thane, and New Mumbai put together is currently about 2 crore, according to a recent Builders Association of India report. With the population growing at 5 per cent per annum, 10 lakh people are being added to this number every year.

    With the island city already choking with slums and traffic, the only place to grow is in the far-off new townships.

    Hope you guys will find this article interesting and informative even though this is pretty old stuff dated 2007.

    Hope you guys will find this article interesting and informative even though this is pretty old stuff dated 2007.

    Hope you guys will find this article interesting and informative even though this is pretty old stuff dated 2007.

    Hope you guys will find this article interesting and informative even though this is pretty old stuff dated 2007.

    Hope you guys will find this article interesting and informative even though this is pretty old stuff dated 2007.
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  • Look at this statement. These people are themselves not convinced whether this area has any future and they still want to charge buyers 15 times of their cost (400 per sq ft). This also proves that construction costs (except the land price) which builders want us to believe are very high are very minuscule compared to the prices at which they sell us.

    Hiranandani, who is not so bullish on Panvel in the near future, said: “A quality project should cost around Rs400 per sq ft (or Rs1.7 crore an acre), including water supply and power.”
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  • Both DLF and Hubtown(Formerly Akruti) are out of Panvel
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  • Good informative article. This was written when the hype around airport was on its peak. Things have changed since then a lot and probably will change for better again. But it is for sure that Mumbai Pune expressway will be the growth corridor in this area
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  • Originally Posted by realebuyer
    Hope you guys will find this article interesting and informative even though this is pretty old stuff dated 2007.


    Hiranandani, who is not so bullish on Panvel Well, Business is BUSINESS.

    GOVT wants to roll money,hence Govt needs people, like HIRANANDANI, AMABANI, TATA< BIRLA....

    World money has to roll on.
    Hence FDI coming....
    At the end QUALITY life is important for all of us.
    Very few relaters will compromise their principles, but builders like baring few, are best to deliver their products...& we should also respect them.

    Just we are bothered for our house delivery,Imagine, from their angle, though they are doing business, they have to deliver a PRODUCT..
    And I always say, those people who stick to their principle will always Go ahead...;)


    savvy_v
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  • savvy , any news on Selene buddy ?
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  • Originally Posted by NaharAmrit
    savvy , any news on Selene buddy ?


    As per my latest chat with relationship manager ..approvals will be in place in 4-6 months and construction will start in 8-12 months, but they said same in Sep-12 as well. In my opinion they do not have a clarity on this yet as they are more focused on phase-1.
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  • Originally Posted by malkotia
    As per my latest chat with relationship manager ..approvals will be in place in 4-6 months and construction will start in 8-12 months, but they said same in Sep-12 as well. In my opinion they do not have a clarity on this yet as they are more focused on phase-1.


    hmm .. thanks for the update , malkotia.
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  • Originally Posted by NaharAmrit
    savvy , any news on Selene buddy ?



    Dear Nahar....
    As I got News from CRIS;
    IF SELENE PLINTH is DEC 2013, then VENUS also will be same , what I feel.
    Hopefully by dec 2017 we will get possession...

    Last month I got this update;
    SEPT 2013 will be demand note for VENUS/SELENE

    I hope if everything falls in place like jigsaw if SEP 2013 tuned, then take 36 mth for completion + one more year for finishing touch & possession.
    savvy_v
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  • Thanks savvy :)
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  • I am interested to purchase a flat in Phase-II, how to go about it through a broker or directly through HIRCO, I request senior members ( savvy_v etc ) to give their valuable advise. I am interested in constructed linked plans. My expectation is to get around 12 percent return on investment. Please give your valuable and detailed and cautions, if any.
    Thanking you , I remain

    Regards
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  • Originally Posted by seekigurview
    I am interested to purchase a flat in Phase-II, how to go about it through a broker or directly through HIRCO, I request senior members ( savvy_v etc ) to give their valuable advise. I am interested in constructed linked plans. My expectation is to get around 12 percent return on investment. Please give your valuable and detailed advise and cautions, if any.
    Thanking you , I remain

    Regards


    Seek
    Well, I would suggest you to talk to RM{Relationship manager of HPG, meet one of the RM in their office headquarter in POWAI...
    Decide your requirement , Visit Site.
    There is no point in giving 2 % brokerage for value of 1 cr,as these brokers /so called agents don't do anythinggggggggggggg.
    Also u can talk to RM, regarding future development, In case u get higher floor availability , does not matter, ,
    Usually VENUS, SELENE, FLORA,are on pipeline, some of the higher floors;) might be available in eternity .
    Down the line, more early u invest more u gain.
    Also don't forget in negotiating terms with RM.
    If u show them u are in hurry in investment they will screw you....So better be careful.
    Invest hard earned Money positively with positive mind without any pressure from anyone, INCLUDING any FORUM FREINDS.....:bab (3):

    But as of today,
    Club house will be functional 2015.
    GARDEN 2014.
    Temple; 2014.
    So cheers & invest.....

    savvy_v
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  • Thanks Mr Savvy _ v for your such a prompt reply.

    Today i visited the site office i was told 501 and 504 are available on the lower floors in flora and he also talked about availability ( 2-3 flats) at higher floors (30th floor ). There was nt much discussion about the rates however he indicated 5k + Rs 50 floor rise.

    Mr Savvy I didn't get what do you mean by negotiating the terms with RM.
    I think at later date price is same normally for all the floors (at least say 1 to 10, 10 to 20 or 20 to 30 floors it may be same ) as floor rise is a big burden.
    Also what about resale prospects of bigger flats havng 2400 sqft area ?

    I am intouch with IB fellow also but his rates (with no floor rise say upto 10th ) are more or less same as HPG for 1700 sq ft 3 BHK flats. Can u offer little bit advise considering location, future prospects, brand value etc. Your advise and guidence will be most valuable.
    or should I wait gor Mr Ambani to announce his Plan in Ulve.

    Thanks in advance.
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