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 Shrikantmaha,
    My two cents sorry all my cent,preserve the hair which u have,if u invest then u may have to pull ur own hair out.
    So plz pay 150rs to the barber every month for the haircut.
    I was so proud when I initially bought,i feel ashamed to tell anyone now. good luck

    Hi Vinchi,
    Thanks for sharing your thoughts. What was your expectation when you invested in this project. Am looking for at around 4-5 years to expect good returns (around 40%) on this. Am not an NRI as such but looking for long term investment. At later stage (after 6-8 yrs) may think of living there. AT present there are hunderds of project in Panvel and looks like this is growing fast comapred to Kharghar and other Navi Mumbai suburbs.
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  • Hi! I really do not believe that the Airport project is really to be worried but still for the forum users, would thought to share this piece of info.
    Green panel clears Navi Mumbai airport - Mumbai - DNA
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  • Originally Posted by shrikantmaha
    Hi! I really do not believe that the Airport project is really to be worried but still for the forum users, would thought to share this piece of info.
    Green panel clears Navi Mumbai airport - Mumbai - DNA


    Dear Shri.
    Its Great NEws, we wanting to see ,and wil be delivered to people of INDIA,as need of time.
    Only thing PMO should realize that it finish in time,and contract can be given to people who are non corrupt-and has high class background.
    Dont want next COMMON WEALTH issue here...
    Happy to note
    "
    The project has also been on the radar of the Prime Minister’s Office (PMO) which is trying to address prolonged delay in key infrastructure projects across the country. It is also reportedly one of the projects for which the PMO has reportedly set deadlines for award of contract.
    The estimated cost of the project, when envisaged, was under Rs5,000 crore but today it is well over Rs10,000 crore. It is expected to generate direct and indirect employment of 90,000 each."


    May be this is an ELECTION MOVE by INC.....


    savvy_v:)
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  • Originally Posted by shrikantmaha
    Hi! I really do not believe that the Airport project is really to be worried but still for the forum users, would thought to share this piece of info.
    Green panel clears Navi Mumbai airport - Mumbai - DNA


    Such news items have been coming up since 2007 and reading such news only we all we lured to HIRCO. Whenever there is some negativity in market, they publish some vague news like this ... there is no commitment in the news ...

    Land acquisition which is probably the first thing to happen is not complete
    Environment clearance not available
    plan for additional mangrove plants in lieu of those getting destroyed as part of land acquisition not complete
    Request for bidding process not started .....Let us hope our kids (grand kids) based on one's age ..will see this airport sometime ...:bab (59):
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  • Originally Posted by malkotia
    Such news items have been coming up since 2007 and reading such news only we all we lured to HIRCO. Whenever there is some negativity in market, they publish some vague news like this ... there is no commitment in the news ...

    Land acquisition which is probably the first thing to happen is not complete
    Environment clearance not available
    plan for additional mangrove plants in lieu of those getting destroyed as part of land acquisition not complete
    Request for bidding process not started .....Let us hope our kids (grand kids) based on one's age ..will see this airport sometime ...:bab (59):


    BY 2020, hopefully all will be settled i feel, so as Malkotia said, we may either get TIRED by that time or we may get RETIRED or BOWELED OUT......

    savvy_v:)
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  • hey guys,

    spoke to my RM .. didn't have any details from management regarding the article ...
    ground clearance work on Phase2 in progress .. expecting a Phase 2 construction schedule post monsoon in a couple of months ..
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  • This project is part of their core portfolio - any idea how they are expected to start work (let alone complete) when they dont have funds to go ahead.
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  • Originally Posted by vikas123
    hey guys,

    spoke to my RM .. didn't have any details from management regarding the article ...
    ground clearance work on Phase2 in progress .. expecting a Phase 2 construction schedule post monsoon in a couple of months ..


    This Phase 2 digging is to extract Plinth amount from customers to repay their debt....Management needs to come clean on the news article....as both JV and Niranjan are washing their hands off......there is a big question mark as to who is controlling this project...
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  • One of the buyers of this project should try and ask what is the approach if they want to cancel their booking right now and then they will hear the real story from Hira.
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  • Originally Posted by rsrsin
    One of the buyers of this project should try and ask what is the approach if they want to cancel their booking right now and then they will hear the real story from Hira.


    They are asking for a 17.5% penalty for cancellation rather than paying interest. We should hire an advocate and take action. As real buyer said phase 2 digging is to extract more money to use free money to come out of their shit
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  • Originally Posted by malkotia
    They are asking for a 17.5% penalty for cancellation rather than paying interest. We should hire an advocate and take action. As real buyer said phase 2 digging is to extract more money to use free money to come out of their shit

    Honestly, given that there is so much of water flowing under the brigde with these guy & the mess that is out in the open - it may make logical sense to take the refund even with the 17% cut if the quantum of cut is not very high in absolute figure.

    Fighting legal is the legal right, but one may end up standing in the queue of the creditors to receive any refund at all - not counting the legal expenses and the elongated decision period.

    Probably, taking the refund and thanking stars that it was not a total loss maybe a more tactical approach.
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  • Begining construction of the buildings to meet their financial obligations .. i have no problem with that ..
    It's what we all ( genuine buyers ) had been looking forward to ..
    I'm assuming they won't be the first in the business to be following this very basic business model : )

    There clearly will be an impact of this news .. hoping we get more clarity in the next few days.

    Putting the unit up for sale might be a better option than cancellation for those who are past their 2 yr holding period ..
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  • Airport is happening.

    It wont be wise to sell now that the good news are started picking.
    Prime Ministers office has put a deadline on contract start/award with regular monitoring.
    Its an election year next year. I am sure they would want to get started with this to
    showcase.

    Three Mumbai projects on PM's fast-track list - The Times of India

    Navi Mumbai airport.........................January 31
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  • Originally Posted by bkhote
    It wont be wise to sell now that the good news are started picking.
    Prime Ministers office has put a deadline on contract start/award with regular monitoring.
    Its an election year next year. I am sure they would want to get started with this to
    showcase.

    Three Mumbai projects on PM's fast-track list - The Times of India

    Navi Mumbai airport.........................January 31


    I wouldn't surprise, it could be Jan 2031....:):):)
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  • Originally Posted by shrikantmaha
    I wouldn't surprise, it could be Jan 2031....:):):)



    Yeh, Shri....
    Dont be so sarcastic.....
    I Gonna, aim 2020.. for project of PHASE-2 to finish... But I agree with u that By Jan 2013 wil be crucial year for INC-UPA..... to evaluate their stregy,and formulate the anotehr 2 decades plan.
    May be by 2031, NMIA,will be ready by that time completely......
    BTW. Some one have any update on Phase-2 escavation .. Its Raining in MAH-PANVEL.. so probably after monsoon ,the project will be in fulls wing.....lets hope VINCHI.....

    Savvy_v:)
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