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 vinchi
    Hi all,

    These are the issues when a project is delayed.

    Pehredaar Ep 96 - YouTube


    Exactly ..if phase-2 gets delayed further and rates go-up ..HIRCO will try to get rid of customers who booked in pre-launch or will try to find some reasons from escalating the cost ...
    CommentQuote
  • Originally Posted by malkotia
    Exactly ..if phase-2 gets delayed further and rates go-up ..HIRCO will try to get rid of customers who booked in pre-launch or will try to find some reasons from escalating the cost ...


    MAlkotia...
    So ur NRI..hence cant see project developments....But u can endorse to get your views /querries cleared ..
    since u r NRI..
    Can u explain me how rates will increase when we already have had PAL.........
    with 20 % booking downpayement;)
    CommentQuote
  • Yep . i think i have read something similar about the SEZ revenues .. But thats true for probabaly hundreds of other SEZ's that have been formed last few years ..

    If you go thru some of the minutes of the links i sent you, all that happens is that they keep granting extensions .. FOr NMSEZ, weren't they changing the entire rulebook to accomodate Reliance ..

    So ... i guess my point is theres' nothing illegal and unsanctioned here that we know of, othere than that 1 acre enroachment we heard of earlier :) and a slow economy and possibly a slow approvals process that has caused delays .. That being said, the long term growth story of that area in general is still intact ..

    I feel Vinchi and malkotia have a valid concern about not having concrete info on Phase 2 .. I belive some of these buildings have been launched well over 2 years back .. I'd be concerned as well if i don't hear anything definite abt Phase 2 and another Phase 1 construction update in the next 2-3 mths ..

    Enjoy!!

    Originally Posted by realebuyer
    Vikas, the link that you have shared is pretty old stuff.......there is no clarity on the current status of their SEZ.....you are absolutely right that SEZ falls under Ministry of Commerce and Industries but every state has a DC(Development Commissioner) who keeps a track of all the SEZ activities in his state. If you have links in DC you can easily get this info.

    I am trying to get some more info on this coz as per my knowledge SEZ should start generating revenues in stipulated time but looking at their commercial buildings i don't think they will be able to show this any time soon.

    Anyways if you guys know more about this please share it on this forum.

    Believe me these are complex things but can have lot of impact on a project.
    CommentQuote
  • Originally Posted by vikas123
    Yep . i think i have read something similar about the SEZ revenues .. But thats true for probabaly hundreds of other SEZ's that have been formed last few years ..

    If you go thru some of the minutes of the links i sent you, all that happens is that they keep granting extensions .. FOr NMSEZ, weren't they changing the entire rulebook to accomodate Reliance ..

    So ... i guess my point is theres' nothing illegal and unsanctioned here that we know of, othere than that 1 acre enroachment we heard of earlier :) and a slow economy and possibly a slow approvals process that has caused delays .. That being said, the long term growth story of that area in general is still intact ..

    I feel Vinchi and malkotia have a valid concern about not having concrete info on Phase 2 .. I belive some of these buildings have been launched well over 2 years back .. I'd be concerned as well if i don't hear anything definite abt Phase 2 and another Phase 1 construction update in the next 2-3 mths ..

    Enjoy!!


    Well this is what i found:

    Minutes of the 48th meeting of the SEZ Board of Approval held on
    19th September 2011 to consider proposals for setting up Special
    Economic Zones

    "Request of M/s. Sunny Vista Realtors Private Limited for second extension of the
    validity period of formal approval, granted for setting up of sector specific SEZ for Multi
    Services at TalukaPanvel, District Raigad, Maharashtra, beyond 14th October, 2011"

    source: http://sezindia.nic.in/writereaddata/BOA/Minutes%20of%2048th%20BoA%20on%2019th%20September%202011.pdf

    According to above statement their SEZ was valid till 14th Oct 2012 and have also checked all the minutes of the meeting till 53rd meeting but did not find any request for extension, so going by this their SEZ has expired and once it is expired you cannot extend it also you have to pay fine and all the tax exemptions that you have claimed so far.

    I really don't know what would be the implications of this on Phase I and Phase II.

    Well this is my observation things might be different, will keep you guys posted if i come across anything.
    CommentQuote
  • Originally Posted by savvy_v
    MAlkotia...
    So ur NRI..hence cant see project developments....But u can endorse to get your views /querries cleared ..
    since u r NRI..
    Can u explain me how rates will increase when we already have had PAL.........
    with 20 % booking downpayement;)


    I think project development for phase-1 has progressed well so far ...recently there was a news, not sure if it is authentic or not that work has stopped ...since the structure is ready phase-1 can get delivered as per plan, only if Hirco wants to .. My assessment is as below:

    The area near HIRCO is still uninhibited.. so HIRCO will now try to delay possesion of phase-1 since there are not many employment generation opportunities in the vicinity and HIRCO itself does not have major customers for its SEZ ..they have no incentive to provide possession quickly ...mainly builders collect 95% money till the structures are completed and only 5% payment is due at the time of possesion...Once phase-1 is handed over and they have some critical mass of the people staying there they will start phase-2. Since a large percentage of the apartments are owned by investors, the occupancy will be low as in the absence of employment opportunities, there will be not many tenants available. The only companies in the vicinity are major manufacturing units such as reliance , Hindustan organic etc who have their own townships ..So I think all in all it depends on how well HIRCO's commerecial/SEZ goes ..

    The risk that is there with phase-2 is that if it gets delayed and rates are up by the time phase-2 is about to start ..builder can play some game to extract more money like change in plan, unit size, cancellation of existing buildings and launching under different names ..for example Selene can be cancelled and launched as "Pelene" ..Flora cancelled and launched as Dora :):) etc ...very less possibility but more the delay more possibility of it getting materialised...

    In Chennai ..they delivered phase-1 (low rising buildings ..) in 2010 and after that there is no clarity on further phases ..The difference in Chennai is it is mainly end-user market and most of the people who had booked in phase-1 have moved to their apartment as HIRCO is very near to the IT hub so it suits people (employment is already their unlike HPG) ...Even then they are struggling to deliver ...

    Let us see ..wait for phase-1 to get delivered? Any idea when they are posting new Mercedes Benz (I mean video ...)?

    Cheers ............
    CommentQuote
  • Originally Posted by malkotia
    I think project development for phase-1 has progressed well so far ...recently there was a news, not sure if it is authentic or not that work has stopped ...since the structure is ready phase-1 can get delivered as per plan, only if Hirco wants to .. My assessment is as below:

    The area near HIRCO is still uninhibited.. so HIRCO will now try to delay possesion of phase-1 since there are not many employment generation opportunities in the vicinity and HIRCO itself does not have major customers for its SEZ ..they have no incentive to provide possession quickly ...mainly builders collect 95% money till the structures are completed and only 5% payment is due at the time of possesion...Once phase-1 is handed over and they have some critical mass of the people staying there they will start phase-2. Since a large percentage of the apartments are owned by investors, the occupancy will be low as in the absence of employment opportunities, there will be not many tenants available. The only companies in the vicinity are major manufacturing units such as reliance , Hindustan organic etc who have their own townships ..So I think all in all it depends on how well HIRCO's commerecial/SEZ goes ..

    The risk that is there with phase-2 is that if it gets delayed and rates are up by the time phase-2 is about to start ..builder can play some game to extract more money like change in plan, unit size, cancellation of existing buildings and launching under different names ..for example Selene can be cancelled and launched as "Pelene" ..Flora cancelled and launched as Dora :):) etc ...very less possibility but more the delay more possibility of it getting materialised...

    In Chennai ..they delivered phase-1 (low rising buildings ..) in 2010 and after that there is no clarity on further phases ..The difference in Chennai is it is mainly end-user market and most of the people who had booked in phase-1 have moved to their apartment as HIRCO is very near to the IT hub so it suits people (employment is already their unlike HPG) ...Even then they are struggling to deliver ...

    Let us see ..wait for phase-1 to get delivered? Any idea when they are posting new Mercedes Benz (I mean video ...)?

    Cheers ............


    Agree , but very disappointed with work at low progress...
    Well Malkotia.... Do u think delay will necessarily attract Seller to increase prize.... when they have signed PAL.... and if so, why a buyer shud pay more when he has booked in early bird... in fact the sufferers wud be the new buyers... isn't it?
    I don't agree with ur equation as old bird buyers have to suffer with new rates and all.....
    If so, all people will think of pulling back...
    whats ur take on this.....;)
    I think they will attract more buyers by offering... BMW/MERCEDES... he he
    savvy_v
    CommentQuote
  • Originally Posted by iamgsprabhu
    Dear friends,

    Hiranandani Panvel will be launching by next week at the rate of Rs 3600 psf on builtup area.
    this post is on 2008..


    considering 4 years, now.. do u think rate for HPG has appreciated??????
    from 3.6 k to 4.5 k,
    900 rs in 48 mths....
    Whats people take???
    savvy_v;)builtup area.
    this post is on 2008..


    considering 4 years, now.. do u think rate for HPG has appreciated??????
    from 3.6 k to 4.5 k,
    900 rs in 48 mths....
    Whats people take???
    savvy_v;)builtup area.
    this post is on 2008..


    considering 4 years, now.. do u think rate for HPG has appreciated??????
    from 3.6 k to 4.5 k,
    900 rs in 48 mths....
    Whats people take???
    savvy_v;)
    CommentQuote
  • Originally Posted by savvy_v
    Originally Posted by iamgsprabhu
    Dear friends,

    Hiranandani Panvel will be launching by next week at the rate of Rs 3600 psf on builtup area.
    this post is on 2008..


    considering 4 years, now.. do u think rate for HPG has appreciated??????
    from 3.6 k to 4.5 k,
    900 rs in 48 mths....
    Whats people take???
    savvy_v;)
    This will be increase by another 600-900 by delivery middle 2014....but not that good an appreciation what I got out of powai , bought at 5.5 in 2009 today it is 12-13k delivery dec 2013
    This will be increase by another 600-900 by delivery middle 2014....but not that good an appreciation what I got out of powai , bought at 5.5 in 2009 today it is 12-13k delivery dec 2013
    This will be increase by another 600-900 by delivery middle 2014....but not that good an appreciation what I got out of powai , bought at 5.5 in 2009 today it is 12-13k delivery dec 2013
    This will be increase by another 600-900 by delivery middle 2014....but not that good an appreciation what I got out of powai , bought at 5.5 in 2009 today it is 12-13k delivery dec 2013
    This will be increase by another 600-900 by delivery middle 2014....but not that good an appreciation what I got out of powai , bought at 5.5 in 2009 today it is 12-13k delivery dec 2013
    CommentQuote
  • Rates of Ulwe has come down by 1000 rs as aiirport got cancelled.

    Endusers can book flats now.
    CommentQuote
  • Originally Posted by abhipnd
    Rates of Ulwe has come down by 1000 rs as aiirport got cancelled.

    Endusers can book flats now.


    PLEASE ABHI dont shoot bullets in AIR... just for publicity....

    Look & read this carefully latest update on NMIA;
    City and Industrial Development Corporation of Maharashtra Ltd (Cidco), the nodal agency developing the project, is awaiting a few crucial nods, before the actual work on the promised airport begins – a process that the agency says will take a year more.
    This means that the complete project, which is being undertaken in four phases, won’t be ready before 2030, and the first phase — which includes opening of one terminal and one runway — will not be open to public before 2017-18.


    Work on airport yet to take off - Hindustan Times


    Hope u don't publish something to misguide people just for any P gains.....




    savvy_v
    CommentQuote
  • Originally Posted by abhipnd
    Rates of Ulwe has come down by 1000 rs as aiirport got cancelled.

    Endusers can book flats now.


    Not sure from where you got information that new airport is cancelled ...although there are some indication that government is building some alternatives such as building Juhu aerodrome as a back-up airport but still the NMIA is on ..
    CommentQuote
  • Originally Posted by malkotia
    Not sure from where you got information that new airport is cancelled ...although there are some indication that government is building some alternatives such as building Juhu aerodrome as a back-up airport but still the NMIA is on ..



    Well.......

    NMIA is definitely on....
    All INFO uc an update on:
    CIDCO :: NMIA Approval

    Savvy_v
    CommentQuote
  • sorry for wrong post

    I just wanted to check sentiments of public about the airport and surrounding real estate market.

    I am also optmistic about airport and other infrastructure developement in and around navi mumbai.

    I am affraid if BJP-Sena led government comes in the next turn they should not take again the airport projct to Kalyan.
    I have already invested in ulwe on high rates and eagerly waiting for the airport takeoff news.

    Regards
    CommentQuote
  • Originally Posted by abhipnd
    I just wanted to check sentiments of public about the airport and surrounding real estate market.

    I am also optmistic about airport and other infrastructure developement in and around navi mumbai.

    I am affraid if BJP-Sena led government comes in the next turn they should not take again the airport projct to Kalyan.
    I have already invested in ulwe on high rates and eagerly waiting for the airport takeoff news.

    Regards


    dont worry if they will shift to kalyan --than panvel and ulwe builder start --project upcoming nearby new aiport only 20 km or 30 km depends the location.
    CommentQuote
  • Originally Posted by abhipnd
    I just wanted to check sentiments of public about the airport and surrounding real estate market.

    I am also optmistic about airport and other infrastructure developement in and around navi mumbai.

    I am affraid if BJP-Sena led government comes in the next turn they should not take again the airport projct to Kalyan.
    I have already invested in ulwe on high rates and eagerly waiting for the airport takeoff news.

    Regards


    I dont think so AIRPORT will be shifted to kalyan...
    Since the viscinity & access shud be near to SEA access, fro any International airport.....
    CommentQuote