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Old February 19th, 2009, 12:56 AM   #61
Hindustani
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one of the buildings have 24th floor roofing being done. That means This is easily the tallest in Hyderabad so far.
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Old February 20th, 2009, 05:37 AM   #62
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Originally Posted by Hindustani View Post
one of the buildings have 24th floor roofing being done. That means This is easily the tallest in Hyderabad so far.
The building you mentioned has 27 floors. First 3 floors are for car parking. That is why lcano says it has 24 floors.
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Old February 20th, 2009, 11:26 AM   #63
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bottom floor = generator
next up = pumps, plumbing etc
next up = electrical panels etc
next up = lobby (ground level)
next up = 1st floor - apartments start from here.

Parking is on three levels which will be built inbetween and all around the apartments covering the entire open area.


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The building you mentioned has 27 floors. First 3 floors are for car parking. That is why lcano says it has 24 floors.
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Old February 22nd, 2009, 10:13 AM   #64
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Quote:
Originally Posted by vamsheem View Post
Latest Pics posted on 16th Feb 2009...

http://www.lancohills.com/pictures.htm

One of the tower reached 24th floor...
r those pics of the tower?
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Old February 28th, 2009, 08:11 PM   #65
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Old February 28th, 2009, 08:30 PM   #66
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Hindustani......context man!?

New ad in a news paper? If it is new.....then the Signature Tower is still on!!!!

P.S.: Please shrink the photo a bit.
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Old March 8th, 2009, 04:32 AM   #67
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I had a chat with couple of my colleagues who are working inside the office of lanco hills in banjara hills...they work as junior architects and are one of the team which is handling the entire project.

Ive asked them about the status of this project and what they said was they had the plans of all the towers (finalized) except the signature tower...said the tower was still in conceptual drawings but they were confident of the tower being erected but not this year!.
They also said that there was no issue with the project financially and it was absolutely certain that they are going to implement the signature tower project
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Old March 8th, 2009, 05:45 AM   #68
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Originally Posted by arjunhp View Post
I had a chat with couple of my colleagues who are working inside the office of lanco hills in banjara hills...they work as junior architects and are one of the team which is handling the entire project.

Ive asked them about the status of this project and what they said was they had the plans of all the towers (finalized) except the signature tower...said the tower was still in conceptual drawings but they were confident of the tower being erected but not this year!.
They also said that there was no issue with the project financially and it was absolutely certain that they are going to implement the signature tower project
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Old March 8th, 2009, 12:04 PM   #69
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Quote:
Originally Posted by arjunhp View Post
I had a chat with couple of my colleagues who are working inside the office of lanco hills in banjara hills...they work as junior architects and are one of the team which is handling the entire project.

Ive asked them about the status of this project and what they said was they had the plans of all the towers (finalized) except the signature tower...said the tower was still in conceptual drawings but they were confident of the tower being erected but not this year!.
They also said that there was no issue with the project financially and it was absolutely certain that they are going to implement the signature tower project
Wow!! That's Great.
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Old March 8th, 2009, 12:19 PM   #70
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Originally Posted by harsh1802 View Post
You should also ask them the undue delay in completing the first phase of the project.People who have booked flats in the first phase more than two years back and had taken bank loan are still to take possession of their flats while the banks have started recovering the loan instalments on account of the terms and condition of the loan agreement (Repayment commences after the completion and delivery of the flat or 24 months from the date of first disbursal of loan which ever is earlier).Therefore people who have booked flats by availing bank loans are burdened by this recoveries without occupying their flats.Owing to salary cuts and pink slips many borrowers have started defaulting on the loan instalments.Lanco project is creating huge NPAs in the Banks (Bank of Baroda and ICICI ) are just two banks which have come out with that information.BTW why LANCO is experiencing cash crunch when they claim that there is stupendous response and heavy bookings?
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Old March 9th, 2009, 02:39 PM   #71
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initial payment of 20% was made during july 2007-seot 2007.
So bank loans would have started after this... Nov 2007 onwards. So why would anyone start paying installments now?
They are still promising the apartments for occupation by Jan 2010.
So where is the delay?


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You should also ask them the undue delay in completing the first phase of the project.People who have booked flats in the first phase more than two years back and had taken bank loan are still to take possession of their flats while the banks have started recovering the loan instalments on account of the terms and condition of the loan agreement (Repayment commences after the completion and delivery of the flat or 24 months from the date of first disbursal of loan which ever is earlier).Therefore people who have booked flats by availing bank loans are burdened by this recoveries without occupying their flats.Owing to salary cuts and pink slips many borrowers have started defaulting on the loan instalments.Lanco project is creating huge NPAs in the Banks (Bank of Baroda and ICICI ) are just two banks which have come out with that information.BTW why LANCO is experiencing cash crunch when they claim that there is stupendous response and heavy bookings?
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Old March 9th, 2009, 03:26 PM   #72
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[QUOTE=stupid007;33343342]initial payment of 20% was made during july 2007-seot 2007.
So bank loans would have started after this... Nov 2007 onwards. So why would anyone start paying installments now?
They are still promising the apartments for occupation by Jan 2010.
So where is the delay?[/QUOTE
Initial payments made in the year 2006 and Banks started disbursing loans as at the end of second quarter of the fiscal year 2006-07.This is for the first two residential blocks.
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Old March 10th, 2009, 12:30 PM   #73
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I recall the first ads came in June 2007 (soft launch in May 2007). They opened all the blocks within 2 days not just two. Then they had a court case and everything was delayed until October 2007. This is when further payments started.
Where did you get the year 2006 from?



Quote:
Initial payments made in the year 2006 and Banks started disbursing loans as at the end of second quarter of the fiscal year 2006-07.This is for the first two residential blocks.

Last edited by stupid007; March 10th, 2009 at 12:38 PM.
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Old March 10th, 2009, 01:52 PM   #74
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Quote:
Originally Posted by stupid007 View Post
I recall the first ads came in June 2007 (soft launch in May 2007). They opened all the blocks within 2 days not just two. Then they had a court case and everything was delayed until October 2007. This is when further payments started.
Where did you get the year 2006 from?
From the books of BOB and ICICI bank.
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Old March 11th, 2009, 08:50 AM   #75
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Those are not to individuals but to lanco. There is a consortium of 10-12 banks and they have lent the money in stages.
They would not have become NPAs since there is still a lot of time for the repayments by lanco.

Source: Indian Bank which is part of the consortium.

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From the books of BOB and ICICI bank.
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Old March 11th, 2009, 02:36 PM   #76
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Originally Posted by stupid007 View Post
Those are not to individuals but to lanco. There is a consortium of 10-12 banks and they have lent the money in stages.
They would not have become NPAs since there is still a lot of time for the repayments by lanco.

Source: Indian Bank which is part of the consortium.
I am referring to individual housing loans taken for purchasing flats in the LANCO project which i have just audited.Most of the accounts have become substandard owing to default of instalment payments exceeding a quarter.As far as loan to the builder is concerned there is anxiety among the consortium banks on account of break in the cash flows.
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Old March 12th, 2009, 11:43 AM   #77
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But when the project itself was launched in May 2007, why did any bank lend money before that? All buyers had to pay the first 20% as margin using their own funds and the banks would lend for the next installments. The first installment collected by Lanco was in Dec-2007/Jan 2008 (when their policy was to collect as per time schedule and not as per construction progress). This was common for buyers of all towers.
Also I am aware that icici bank had stated that they had not approved the project for housing loans (as of Jul-Aug 2007) and was infact one of the last banks to do so. So how come their books are having loans of 2006? Strange!
And all these banks give a 24 month repayment holiday. Wonder why BOB and ICICI have started showing them as NPAs.

And according to Indian bank the consortium is supposed to get repayments from 2012 onwards.

Quote:
Originally Posted by ranga View Post
I am referring to individual housing loans taken for purchasing flats in the LANCO project which i have just audited.Most of the accounts have become substandard owing to default of instalment payments exceeding a quarter.As far as loan to the builder is concerned there is anxiety among the consortium banks on account of break in the cash flows.
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Old March 12th, 2009, 02:22 PM   #78
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Originally Posted by stupid007 View Post
But when the project itself was launched in May 2007, why did any bank lend money before that? All buyers had to pay the first 20% as margin using their own funds and the banks would lend for the next installments. The first installment collected by Lanco was in Dec-2007/Jan 2008 (when their policy was to collect as per time schedule and not as per construction progress). This was common for buyers of all towers.
Also I am aware that icici bank had stated that they had not approved the project for housing loans (as of Jul-Aug 2007) and was infact one of the last banks to do so. So how come their books are having loans of 2006? Strange!
And all these banks give a 24 month repayment holiday. Wonder why BOB and ICICI have started showing them as NPAs.

And according to Indian bank the consortium is supposed to get repayments from 2012 onwards.
It appears that a few chosen hundred buyers booked the flats before the so called official launch.As the project is undertaken by a reputed construction company with strong political connections banks vied with each other to capture lucrative business when the borrowers are from the most sought after software sector.As far as consortium advance to LANCO is concerned why the repayment should begin after five years of the project launch when they are collecting the money at regular intervals from the buyers/buyers banks which should be routed thru their loan accounts.
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Old March 13th, 2009, 09:27 PM   #79
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- Dude, what the hell are getting at, if at anything? You have been going around in circles over the last dozen posts or so. The project is being built, something of this scale takes time, so patience is a virtue that all of us must practise! Thanks in advance and cheers!
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Old March 26th, 2009, 12:41 AM   #80
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I spoke with one of the "investor partner" @ lanco. Per him, the signature tower project is on freeze for the time being for two important reasons.
1- They are yet to get "permissions" and the necessary govt/safety codes are missing for buildings of this height.
2- More importantly, they have do not have the confidence that the floor space will sell in this kind of economy and it doesnot make business sense for them to start the building construction at this point in time. However, its a "wait and watch" game for the time being.

3 of the residential towers included in the original plan are also on hold.
Only 1 commercial tower is being built. Rest on hold.

PS: All this info is from a internal reliable source that I know personally. Not any marketing/sales or media guy.
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