lakhgill1

Dear Friends,

have been told that the above project is hot. Can someone tell me if the Hiranandinin Palace Gardens, Chennai is a good investment?

Thoughts will be very appreicated.
L

Pinnacle

Hi...
Chennai Palace Garden is a good long term investment project
And i can recommend you if your are looking at a 3 year + horizon

__________________
Ram

lakhgill1

Hi Ram

Thanks for the note and much appreciated.

Will you be able to recommend any navi Mumbai developments? I have heard Hiranandani in Panvel has just been launched - what are your views?

Kind Regards

Lakh

Yuvaraj

Hey, the project is in Oragadam ,went there a week back. The surrounding area is full of barren land and the only decent road is the still to be laid SH57. They launched a year back at 2450 and are now quoting 3400. When asked why the increase in the rates the CC guy told me it was because of the construction quality and world class amenities. When asked to explain what specific 'quality or world class amenities' he sheepishly conceded it was because of the demand. The project is a rip off.

Land within 1 km of this project can still be bought for Rs. 400 a sq ft. Hiranandani has shamelessly hiked the prices. Consumers shouldnt fall for it. Their business complex will come only in Phase 2 and not phase 1 which will have 1750 apartments. The distance to the Airport would be 30 Kms . There is absolutely nothing that can justify the price charged by them. Better some other projects like DLF.

jyotibakshi

The project is selling at Rs 3400 for several reasons. One is off course demand. Can you tell me why DLF is selling at 3500 when another developer in the same vicinity is selling at 2800. When you buy DLF or Hiranandani, you pay for quality. You get what you pay for. I was a real estate consultant and I have seen good appreciation in such properties. Who knew that Hiranandani's powai will command a rate of 16000 when they started selling at 2000. For best returns on investment, one should always take the first mover advantage

wiseman

I like the one about "first move advantage". If you are buying Real Estate THIS LATE in the boom (when the bust has already started) you are a LAST MOVER or at least one of the LAST EARLY MOVERS.

Wait for the decline to run its full course. The same 3400 per Sft will be available for 700 per Sft. Mark my words.

And wait for that Powai to come down from 16000. I'm betting it will be at least 8000 if not lower when this bust is finished

akilan

Hi,

I am a consultant in Chennai and I am fabergasted with the rates applied to the hiranandini project off oragadam. Why, cause, currently I am facilitating purchase of land around that area for a MNC at about 150 Rs./ Sq. Ft.
Well, that's all I would like to say and the rest is upto to you to envisage the manipulations etc. prevalent with every builder/ developer. God help us.

rohhan

I am planning to book a flat in Hiranandani palace gardens, chennai.

Any views about the project?

iamgsprabhu

Dear friends,

Hiranandani Panvel will be launching by next week at the rate of Rs 3600 psf on [super]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

ghans_12

This is to - Iamgsprabhu.
Can you please tell what, can we do? If the builder is asking for the superbuild up price ?
Can we complain? If, yes there where we can do this?

Thanks