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
    savvy_v


    See what they said more than 1 year plus for Flora i.e. more than 6 months (any thing between 6 to 12 month ) for other buildings of phase-2. so Mr savvy can still be right.
    As Mr. Niranjan Hiranandani has brought out in his (recent ) interview that approval taking takes a lot of time.

    So I think optimism of Mr savvy is not misplaced.

    Thanking you.
    CommentQuote
  • Originally Posted by seekigurview
    What you think
    How much old it is ?


    I think a similiar article was published about few months back and same article again published yesterday ..might be a paid article by Mr Hiranandani... Read following comments from the HIRCO Plc guys on the news item.

    Readers' opinions (2)
    Sort by:Newest|Oldest
    Robert (Pune)
    28 Mar, 2013 10:02 PM
    Why does the family not have concerns of hirco shareholders also in mind? From whom they shamelessly raised 300m pounds of capital six years ago and then left in the lurch? Hiranandani needs to be sent to prison to teach other promoters a lesson.



    Sa here (LondOn)
    28 Mar, 2013 09:58 PM
    This is a biased article. Hiranandani raised funds at 500p per share and was supposed to pay 12pc interest which accumulates to a further 400p per share. Instead of buying out investors at 900, he has offered a shameless value of 50-100. Hrco has many Indian investors also who he has shamelessly fleeced. The worst part is he has the money to pay healthy dividends but is relying instead on compliant journalists to plant slanderous stories to run away.
    CommentQuote
  • Originally Posted by seekigurview
    See what they said more than 1 year plus for Flora i.e. more than 6 months (any thing between 6 to 12 month ) for other buildings of phase-2. so Mr savvy can still be right.
    As Mr. Niranjan Hiranandani has brought out in his (recent ) interview that approval taking takes a lot of time.

    So I think optimism of Mr savvy is not misplaced.

    Thanking you.


    The approval takes time when a new township is launched ..but once the township is approved,, it is pretty standard process to get approval for new buildings in the approved township as overall all land will be clear and builder will do his homework in terms of layout/FAR etc ...

    In fact if you talk to some of the HIRCO RMs over phone they will even claim that all approvals for phase-2 buildings is already in place and will offer you to come and see the approval papers (after knowing that one is located overseas)...:):):)
    CommentQuote
  • Originally Posted by seekigurview
    See what they said more than 1 year plus for Flora i.e. more than 6 months (any thing between 6 to 12 month ) for other buildings of phase-2. so Mr savvy can still be right.
    As Mr. Niranjan Hiranandani has brought out in his (recent ) interview that approval taking takes a lot of time.

    So I think optimism of Mr savvy is not misplaced.

    Thanking you.



    Anyhow, In RE , nothing is REAL, {unless proved otherwise}.

    In Any business, TIME sheet is required as Financial sheet.
    I am sure HPG has time sheet in order to deliver their product...
    As of today Niranjan is not bankrupt....
    HE can pull this project sooner or later...

    see what he said,, centerline article..
    http://articles.economictimes.indiatimes.com/2013-03-28/news/38099503_1_hirco-plc-priya-hiranandani-doug-gardner

    Quote"
    "The family is committed to continue to protect and deliver product to our customers. We will work with our banks and ensure these hedge funds cannot sabotage the project and try and make a fast buck at the cost of our customers and local banks. Their tactics to starve the projects of capital will not work. It will only boomerang in their faces. We will work with the Indian banks to do what is right by the projects." It may be recalled that earlier this year, Doug Gardner, a former independent non-executive director at Hirco Plc and Priya Hiranandani had filed for damages against Hirco Plc in the Isle of Man court. Niranjan Hiranandani, the past Chairman of the company, too is suing Hirco Plc in the Singapore Court.
    CommentQuote
  • Originally Posted by malkotia
    I think a similiar article was published about few months back and same article again published yesterday ..might be a paid article by Mr Hiranandani... Read following comments from the HIRCO Plc guys on the news item.

    Readers' opinions (2)
    Sort by:Newest|Oldest
    Robert (Pune)
    28 Mar, 2013 10:02 PM
    Why does the family not have concerns of hirco shareholders also in mind? From whom they shamelessly raised 300m pounds of capital six years ago and then left in the lurch? Hiranandani needs to be sent to prison to teach other promoters a lesson.



    Sa here (LondOn)
    28 Mar, 2013 09:58 PM
    This is a biased article. Hiranandani raised funds at 500p per share and was supposed to pay 12pc interest which accumulates to a further 400p per share. Instead of buying out investors at 900, he has offered a shameless value of 50-100. Hrco has many Indian investors also who he has shamelessly fleeced. The worst part is he has the money to pay healthy dividends but is relying instead on compliant journalists to plant slanderous stories to run away.


    Mr. Malkotia you are spot on......
    CommentQuote
  • Originally Posted by malkotia
    The approval takes time when a new township is launched ..but once the township is approved,, it is pretty standard process to get approval for new buildings in the approved township as overall all land will be clear and builder will do his homework in terms of layout/FAR etc ...

    In fact if you talk to some of the HIRCO RMs over phone they will even claim that all approvals for phase-2 buildings is already in place and will offer you to come and see the approval papers (after knowing that one is located overseas)...:):):)



    APROVAL PAPERS ca be viewed in person only... as they are legal documents...
    Anyone believing PDF formats are not legal..
    Hence Its mandatory he/she sees approval papers in person.... {does not matter which part of world u stay,but its prime responsibility of anyone to see all legal documents before u put ur heard earned money..

    In fact approval for Phase2 is ready, delay is because of clemency issue between HIRCO/HPG.. thats hurting hpg..Niranjan , what I presume.....

    savvy_v
    CommentQuote
  • Originally Posted by savvy_v
    APROVAL PAPERS ca be viewed in person only... as they are legal documents...
    Anyone believing PDF formats are not legal..
    Hence Its mandatory he/she sees approval papers in person.... {does not matter which part of world u stay,but its prime responsibility of anyone to see all legal documents before u put ur heard earned money..

    In fact approval for Phase2 is ready, delay is because of clemency issue between HIRCO/HPG.. thats hurting hpg..Niranjan , what I presume.....

    savvy_v


    Savvy_v if approvals are in place then registration should start for phase 2.....ask them if you can register your property if they give you an excuse then there is something wrong.
    CommentQuote
  • Originally Posted by savvy_v
    Anyhow, In RE , nothing is REAL, {unless proved otherwise}.

    In Any business, TIME sheet is required as Financial sheet.
    I am sure HPG has time sheet in order to deliver their product...
    As of today Niranjan is not bankrupt....
    HE can pull this project sooner or later...

    see what he said,, centerline article..
    Hiranandanis move court to block hostile takeover of Hirco - Economic Times

    Quote"
    "The family is committed to continue to protect and deliver product to our customers. We will work with our banks and ensure these hedge funds cannot sabotage the project and try and make a fast buck at the cost of our customers and local banks. Their tactics to starve the projects of capital will not work. It will only boomerang in their faces. We will work with the Indian banks to do what is right by the projects." It may be recalled that earlier this year, Doug Gardner, a former independent non-executive director at Hirco Plc and Priya Hiranandani had filed for damages against Hirco Plc in the Isle of Man court. Niranjan Hiranandani, the past Chairman of the company, too is suing Hirco Plc in the Singapore Court.


    If the battle ultimately turns out to be between Hiranandani family Vs HIRCO plc then it will be beneficial for us as well. But on top of this there is infighting between family members as well ...Also there are no customers secured for commerical yet which is going to be critical for habitation and development of area and that is the reason HIRCo has slowed down the construction. As Realbuyer mentioned , the wrk on only two buildings is in progress. HIRCO will complete these two buildings and annouce that phase-1 handover has started ..that way they can show that they have delivered to their committment ..after that it will be wait and watch based on the development in that area...HIRCO would have already pocketed 95% of the money from phase-1 buyers and 20% from phase-2 buyers so they have nothing to lose and everything to gain ..
    CommentQuote
  • Phase-1 buyers please share how much penalty HORCO has committed for delay in handover (normally it is miniscule as compared to the loss of rental income interest on EMI etc ..)
    CommentQuote
  • Originally Posted by malkotia
    If the battle ultimately turns out to be between Hiranandani family Vs HIRCO plc then it will be beneficial for us as well. But on top of this there is infighting between family members as well ...Also there are no customers secured for commerical yet which is going to be critical for habitation and development of area and that is the reason HIRCo has slowed down the construction. As Realbuyer mentioned , the wrk on only two buildings is in progress. HIRCO will complete these two buildings and annouce that phase-1 handover has started ..that way they can show that they have delivered to their committment ..after that it will be wait and watch based on the development in that area...HIRCO would have already pocketed 95% of the money from phase-1 buyers and 20% from phase-2 buyers so they have nothing to lose and everything to gain ..



    U may be partly right....
    But as of today.... baring 2 buildings,they have to hand over the phase-1 to customers,otherwise HPG will be Mess...
    Ther prime challenze is how to come out of mess, & deliver phase-1, with PRIDE whatever left..
    I am sure Big Giants liek Niranjan will be having MBA 's with them who can guide better in interest of customer's.
    Off course, delay in Phase-2 is expected.

    As matter of registering product,
    Well, Any property can be registered in Stipulated time.... Delay in registration will either give benefit for customer from their point of view.It does not benefit SALER.
    CommentQuote
  • Originally Posted by realebuyer
    Savvy_v if approvals are in place then registration should start for phase 2.....ask them if you can register your property if they give you an excuse then there is something wrong.



    ANSWER IS HERE;
    We need to do Registration & stamp duty for our flat VENUS Before plinth charges? - the Agreement can be registered once the Plinth level is constructed. We cannot register the apartment prior to the construction reaching Plinth Level.

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;

    do u see any thing wrong.....

    opine ur view;
    CommentQuote
  • Originally Posted by savvy_v
    ANSWER IS HERE;
    We need to do Registration & stamp duty for our flat VENUS Before plinth charges? - the Agreement can be registered once the Plinth level is constructed. We cannot register the apartment prior to the construction reaching Plinth Level.

    do u see any thing wrong.....

    opine ur view;

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse

    In my view this is crap.......if you have all the approvals in place there is no need to wait for plinth.....please take this RM to task for giving such lame excuse
    CommentQuote
  • HI Savvy,
    I was asking who is ur RM,can u plz share,thx.
    CommentQuote
  • Originally Posted by savvy_v
    U may be partly right....
    I am sure Big Giants liek Niranjan will be having MBA 's with them who can guide better in interest of customer's.
    SALER.


    Well savvy_v if you tell this to anyone who has worked in Real Estate you will get your answer.....well to be honest when it comes to MBA's hiranandani has the least no of MBA's in the whole industry and probably their wages are the least in the industry......you can get these facts confirmed if you know anyone in Hiranandani personally.......I personally hope that HPG Panvel does not become another Powai where half of the Buildings do not have BMC water supply and more that 30% of the flats are still without OC....these somehow are the harsh realities of the Hiranandani Gardens Powai.
    CommentQuote
  • Trial starts in Powai Housing Soc scandal

    Five persons, including the Hiranandani brothers and the director of Hiranandani Constructions, will be appearing in court today on charges of cheating a group of homebuyers.

    Vathsala Shenoy, the complainant, was promised a flat in 1985 by a builder, SC Dand, one of the accused in the case. At the time, Dand was taking booking under a project called the Powai Park Social Housing Scheme, which is now brought over by Hiranandani Developers.

    Dand had reportedly booked 285 homes under the scheme. Shenoy had booked two flats under the scheme and was granted membership in 1990. She had paid Rs 3.19 lakh. However, till date, her family has not moved into the promised flat nor have they been given their money back. “We did not purchase any other home, hoping that we would be moving here,” said Shenoy.

    Dand had started construction on the ground floor, but could not finish the contract he took up as he had run out of money. He then approached the Niranjan Hiranandani and offered them to take over the development project, and asked the Hiranandani Group to pay the settlement amount to the members of the housing scheme. “We do not know how many bookings Dand had made. We do not know what he did with the money either. He took responsibility of settling the matter with the members,” said Sanjay Parekh, the general manager, business development management of the Hiranandani Group.

    Parekh also pointed out that the agreement was divided into a land and construction agreement. “Dand had only taken the money in accordance to the land agreement.

    The construction agreement was due to be signed and thus the complainant cannot hold him liable for the flat,” added Parekh. The Hiranandanis had also met the Shenoys and offered them the settlement amount that they had offered to the 170 members at Rs 2000 per sq.feet. “A flat in Mumbai costs more than Rs 1 crore now. How can I buy a home with the money I am being offered? In my petition, I have asked for compensation in accordance to the current market value in Powai,” said Shenoy.

    Meanwhile, Hansa Dand, along with 25 other people, in a similar plight, who were not around when the compensations were offered, plan on taking up the issue with the Bombay High Court.

    “We are planning to get all the 25 people who want their flats that they had paid for and file a case in the High Court,” she said, alleging that Hiranandani Constructions had offered them Rs. 20 lakh as compensation.

    Earlier, the court summoned the accused including Surendra Hiranandani and his brother Niranjan Hiranandani on February 6, 2013. They both were granted bail applications and will be appearing for the first trial hearing along with two of the other accused on March 6.

    Dand, the director of the Powai Housing Development, the primary accused, passed away and his name was deleted from the list of accused.
    CommentQuote