Hello,
Anyone bought apartments in Chennai-OMR-Arhihant-Heirloom project? Any details (plus, minus) would be appreciated.

Roon
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  • If anyone bought at this time, they are fools. Seriously wait for another 6 months to 12 months u'll see the difference.
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  • Why do you say that? Do you think the prices will come down?
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  • arihant

    I believe the prices are too high.
    Defeinatley the price will come down. There is over supply in chennai.
    Lot of builders not able to sell. They will reduce the price when you approach. But better wait for some time.
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  • Any update on Arihant Heirloom.

    Any update on Arihant Heirloom is much appreciated.
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  • OMR is getting some where near to 15000 apartments. And demand would be less because of the prices, around 4k (all inclusive). But if the builders force the govt to move the IT to OMR then these prices might stay with +/- of 10%.
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  • Hi everyone

    I am new to this forum, i would like to post some info on the ongoing arihant heirloom project which has almost 75%completed and we are planning to book a flat in this project this time the prices are also down so looks like the best time to buy it. If there is any suggestion and info needed please feel free to reply.:)
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  • I visited their site a couple of weeks back...construction was almost 75% complete. It is 2.5 km away from the OMR from navalur junction...there is a lake infront of the site...so there can be water logging during rains...

    they quoted Rs.2090 per sft... i think the rate may still come down in the coming months.
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  • Originally Posted by ragu647
    I am new to this forum, i would like to post some info on the ongoing arihant heirloom project which has almost 75%completed and we are planning to book a flat in this project this time the prices are also down so looks like the best time to buy it. If there is any suggestion and info needed please feel free to reply.:)


    This is your first post and you are telling you are satisfied and going to book

    Needless to say brokers and agents also campaign here
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  • Originally Posted by themonk
    I visited their site a couple of weeks back...construction was almost 75% complete. It is 2.5 km away from the OMR from navalur junction...there is a lake infront of the site...so there can be water logging during rains...

    they quoted Rs.2090 per sft... i think the rate may still come down in the coming months.



    Dear friend,

    If the price comes down by another 10%, i.e., to Rs. 1900/sq. ft level, it can be a reasonable deal considering the land cost of Rs. 700/sq. ft with UDS about 50% of flat area and construction cost of Rs. 1200/sq. ft. For example, a 1300 sq. ft. built up area, it can work roughly like this.

    Land cost ( 50% UDS ) 650 sq. ft. x Rs. 700 = Rs. 4.55 lakhs.
    Construction cost Rs. 1200/sq. ft.for 1300 = Rs. 15.60 lakhs.
    margin20% = Rs. 4.03 lakhs
    Total Rs. 24.18 lakhs

    per sq. ft. Rs.24,18,000 / 1300 sq. ft = Rs. 1860 say Rs. 1900.

    ks2071746
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  • Originally Posted by ks2071746
    Dear friend,

    If the price comes down by another 10%, i.e., to Rs. 1900/sq. ft level, it can be a reasonable deal considering the land cost of Rs. 700/sq. ft with UDS about 50% of flat area and construction cost of Rs. 1200/sq. ft. For example, a 1300 sq. ft. built up area, it can work roughly like this.

    Land cost ( 50% UDS ) 650 sq. ft. x Rs. 700 = Rs. 4.55 lakhs.
    Construction cost Rs. 1200/sq. ft.for 1300 = Rs. 15.60 lakhs.
    margin20% = Rs. 4.03 lakhs
    Total Rs. 24.18 lakhs

    per sq. ft. Rs.24,18,000 / 1300 sq. ft = Rs. 1860 say Rs. 1900.

    ks2071746


    you have not taken into account the following costs
    1) infrastructure fee of rs 100/sq ft to be paid on approval and the other charges for approval will come to 50/sq ft.
    construction of 1200 is for the building but waht about the areas outside the building like compound wall.landscaping, swimming pool etc.

    the rate of 2090 is ok but the location remember the auto fare of 400/- one way.
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