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Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

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Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

Last updated: January 1 2016
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  • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

    TOI 7th Jan 2013

    State scraps prime mill land ‘largesse’ to builder

    Former CM Ashok Chavan Had Given 7.6 FSI For Hotel

    Nauzer K Bharucha TNN


    Mumbai: The state government has cancelled an abnormally high floor space index (FSI) of 7.6 sanctioned by former chief minister Ashok Chavan for a hotel project on the defunct Hindoostan Mills property at Prabhadevi. The government’s decision is a major setback for the developer, Hubtown (formerly known as Ackruti), which purchased this six-acre land jointly with construction giant DLF for Rs 350 crore in 2007. It had planned to build a 60-storey hotel.
    Chief minister Prithviraj Chavan is believed to have overturned his predecessor’s controversial decision last month. “He was livid when told that the National Textiles Corporation (NTC) had valued its own Indu Mill property at a phenomenal Rs 6,000 crore based on the largesse given to Hindoostan Mills,’’ said sources.
    The state government was at that time negotiating with NTC to take over the 13.5-acre Indu Mills for an Ambedkar memorial. “The CM was intrigued at the reckless valuation done by NTC. There was no way the state government could pay such a large amount to NTC. It was then that the urban development department decided to revoke the high FSI sanctioned by Ashok Chavan,’’ said a senior bureaucrat.
    The developer is now left with a much-reduced FSI of 1.33, which will allow only 3.5 lakh sq ft of permissible builtup area compared to the 15 lakh sq ft it had envisaged earlier. FSI defines how much can be built on a plot. For instance, a7.6 FSI would allow a developer to build 7,600 sq m on a 1,000 sq m plot.
    Hubtown MD Vimal Shah was unavailable for comment, but sources said the developer will now set up a residential building. However, the land falls under the coastal regulation zone 1 and is reserved only for industrial purposes. Last year, TOI had reported that NRI tycoon C Sivasankaran had sold his 50% stake in Hindoostan Mills for almost Rs 450 crore. Hubtown and financial investor Red Fort Capital, who had the remaining stake, purchased Sivasankaran’s share. Sivasankaran had picked up DLF’s 50% stake in the property for Rs 310 crore in 2009. Government sources said another reason why the Hindoostan Mills FSI had to be rejected was because other developers demanded similar concessions. “The owner of SoBo Central mall at Tardeo wanted more FSI to build a hotel, citing the Hindoostan Mills case,’’ said officials.
    Officials said that some developers cunningly procured high FSI for hotels permitted under the 1967 development control rules (DCR), but simultaneously demanded building concessions allowed under the 1991 rules. Real estate sources said several developers procured much higher FSI under the garb of building a hotel and then slyly convert it into a “service apartment facility’’. “They then surreptitiously sell these apartments on long lease,’’ they said.
    Meanwhile, the controversy over grant of hotel FSI has also stalled the redevelopment of the erstwhile Sea Rock Hotel at Bandra Bandstand. Last year, the 5.5 FSI project did not receive environmental clearance or approval under the Coastal Regulation Zone (CRZ) notification. The Maharashtra Coastal Zone Management Authority (MCZMA) raised queries about the project and refused to endorse it.


    THE PLOT In mid-2007, the Hindoostan Spinning and Weaving Mills (above), located near Siddhivinayak temple at Prabhadevi, was sold by its owner, the Thackerseys, for Rs 350 crore to Ackruti Nirman (now renamed Hubtown) and DLF. In 2009, NRI entrepreneur Sivasankaran picked up DLF’s 50% stake in the property for Rs 310 crore. Last year, he sold his stake for Rs 450 crore to Hubtown and financial investor Red Fort Capital

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    • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

      Meanwhile I see another letter from Hubtown which talks about possession being delayed to June 2013 .. Frankly, today I dont even remember what was the original date for possession !!

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      • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

        Ye tum kya kehe rahe ho vats

        Ye to aktruti kee poori vikruti ho gayi


        hubtown instead of becoming a big part of downtown will become talk of the town for wrong reasons

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        • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

          Originally posted by compuwalah View Post
          Ye tum kya kehe rahe ho vats

          Ye to aktruti kee poori vikruti ho gayi


          hubtown instead of becoming a big part of downtown will become talk of the town for wrong reasons
          Looks like Ashok Chavan was the captain of doobta hua Titanic .. Sab ko leke gaya ..

          Anyway Builders have thick skin and big tummy. I am sure they can digest and fart (sort) out such problems
          Last edited by MANOJa; October 24 2015, 10:30 PM. Reason: Text formatting.

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          • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

            Originally posted by rogern View Post
            Meanwhile I see another letter from Hubtown which talks about possession being delayed to June 2013 .. Frankly, today I dont even remember what was the original date for possession !!

            looking at the rate of construction, I believe it will take 1 more year to give possession of all flats.

            I have noticed that construction of clubhouse and areas around swimming pool have gathered pace. I believe largely because people have shifted in B and C wings.

            Rogern: You must have booked in later wings..

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            • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

              Originally posted by PointOfView View Post
              looking at the rate of construction, I believe

              Rogern: You must have booked in later wings..
              Yes I am in the 2nd phase of project .. but its OK for me as long as there is some progress and work has not stopped

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              • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

                Originally posted by rogern View Post
                Yes I am in the 2nd phase of project .. but its OK for me as long as there is some progress and work has not stopped

                i was talking to hubtown sales person and he was saying that some wings do not have parkings at all (not even open). I wonder how these ppl will park their cars. seems like this would lead to everyday quarrels for residents.

                what is your wing... and do you hv parking ?

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                • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

                  @rogern: thanks for sending pm

                  Your wing might take 1 more year for you to get possession. These days they are concentrating more in developing garden area in B1 cluster and amenities in B2 cluster.

                  Clubhouse, gym and swimming pool have still not started functioning.

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                  • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

                    Any details about how many possessions are handed over till date or planned by March 2013 ?
                    If you are happy, you are successful.

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                    • Re : Hubtown Countrywoods, Hubtown Limited, Kondhwa, Pune

                      Originally posted by realacres View Post
                      Any details about how many possessions are handed over till date or planned by March 2013 ?
                      Just 2 buildings A and B .. Current rate is 4500 Per sqft .. No point in coming to live here if you dont have ur vehicle (preferably a Car). Here are some latest pics
                      Attached Files

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