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Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

Last updated: August 22 2013
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  • #11

    #11

    Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

    Originally posted by wiseman View Post
    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
    Dear wiseman,

    I only agree partially with your comments that the prices are now coming down and better wait. But the price of Rs. 3400/sq/ ft. is too high for that -out of city- area, whatever quality or appreciation in the long run. , one can talk now. This place is far away from the airport and the city centre.The nearest town is Chingleput, which does not have good facilities, not even good hotels/restaurants. It may take atleast 5 years from the taking over of the flat for any decent appreciation. Commuting to city may be a not-happy proposition unless one has his own car. Please do not forget, the rental income may be very less, I know, even in decent projects like Arun Excello at Urapakkam, the rent for a good 2 bed is less than Rs. 3000/pm and most flats are remaining vacant. People expected, Shriram SEZ will give the boost, but it is not happening. Satyam is not going to use the office of over 1 lakh sq. ft. booked by them there. Much of the office space is expected to remain vacant for atleast another year or two.
    In addition to rent, one should add the high Rs. 1.5 to 2 /sq. ft. per month maintanence charge to be borne by the tenant for the flat.

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    • #12

      #12

      Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

      Originally posted by ks2071746 View Post
      Dear wiseman,

      I only agree partially with your comments that the prices are now coming down and better wait. But the price of Rs. 3400/sq/ ft. is too high for that -out of city- area, whatever quality or appreciation in the long run. , one can talk now. This place is far away from the airport and the city centre.The nearest town is Chingleput, which does not have good facilities, not even good hotels/restaurants. It may take atleast 5 years from the taking over of the flat for any decent appreciation. Commuting to city may be a not-happy proposition unless one has his own car. Please do not forget, the rental income may be very less, I know, even in decent projects like Arun Excello at Urapakkam, the rent for a good 2 bed is less than Rs. 3000/pm and most flats are remaining vacant. People expected, Shriram SEZ will give the boost, but it is not happening. Satyam is not going to use the office of over 1 lakh sq. ft. booked by them there. Much of the office space is expected to remain vacant for atleast another year or two.
      In addition to rent, one should add the high Rs. 1.5 to 2 /sq. ft. per month maintanence charge to be borne by the tenant for the flat.
      i concur about hirco palace grounds the location is a jungle,if you like a jungle resort you can buy it.
      rates coming down to 700 rs is a fantasy. construction cost and amenities he gives will easily touch 1500/- add the land cost,the overheads and he will break even only at around 2200/-
      rentals in big complexes is lesser bcoz of the maintenance charges,
      but i think the urapakkam, gudvanchery stretch is a nice place.less than 10 km of highway ride from tambaram.and the lesser congestion makes it a
      an attractive place to live

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      • #13

        #13

        Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

        Guduvanchery,urapakkam etc are nice place for farmers to live as IT companies in Shriram IT park etc are not coming up

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        • #14

          #14

          Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

          Originally posted by Nataraajg007 View Post
          Guduvanchery,urapakkam etc are nice place for farmers to live as IT companies in Shriram IT park etc are not coming up
          I partially agree with you.

          ks2071746

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          • #15

            #15

            Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

            Originally posted by Nataraajg007 View Post
            Guduvanchery,urapakkam etc are nice place for farmers to live as IT companies in Shriram IT park etc are not coming up
            some may not come but many will bcoz it is an sez and it parks' tax holiday is getting over this year and IT companies who who arent
            used to paying Income taxes will move to sez's.it has many more advantages like the single window system for all corporate needs.
            Shriram is not the only sez L&T's estancia and mahindra city both are sez with residences,schools already functioning in mahindra,infosys and many are operational.vidya mandir is coming up in estancia with malls and hotel.
            other projects are a purely commercial mall with a gold souk already half way thru is at urapakkam.
            perangalathur is already an old established locality.
            and dont think low about farmers majority are sitting on more cash than you and I.

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            • #16

              #16

              Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

              Originally posted by madrasi View Post
              some may not come but many will bcoz it is an sez and it parks' tax holiday is getting over this year and IT companies who who arent
              used to paying Income taxes will move to sez's.it has many more advantages like the single window system for all corporate needs.
              Shriram is not the only sez L&T's estancia and mahindra city both are sez with residences,schools already functioning in mahindra,infosys and many are operational.vidya mandir is coming up in estancia with malls and hotel.
              other projects are a purely commercial mall with a gold souk already half way thru is at urapakkam.
              perangalathur is already an old established locality.
              and dont think low about farmers majority are sitting on more cash than you and I.
              Dear madrasi,

              I agree that those farmers who have sold their land in the last few years made a lot of money. I have heard about many having so much of cash own Scorpios, Innova etc. and not knowing much on what to do with the large cash, of course, most of them unaccounted. You can see a number of the farmers houses in Mahindra City area etc. such cars parked outside their premises.

              ks2071746

              Comment

              • #17

                #17

                Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

                Originally posted by madrasi View Post
                some may not come but many will bcoz it is an sez and it parks' tax holiday is getting over this year and IT companies who who arent
                used to paying Income taxes will move to sez's.it has many more advantages like the single window system for all corporate needs.
                Shriram is not the only sez L&T's estancia and mahindra city both are sez with residences,schools already functioning in mahindra,infosys and many are operational.vidya mandir is coming up in estancia with malls and hotel.
                other projects are a purely commercial mall with a gold souk already half way thru is at urapakkam.
                perangalathur is already an old established locality.
                and dont think low about farmers majority are sitting on more cash than you and I.
                "It is good for farmers". It does not mean they are low. That area is more suitable for farmers.

                L & T estancia is struggling. Now L & T has 4% share in Satyam and loosing good amt of money. Clear picture will emerge on these areas only by 2012 ie till that time IT is down

                Comment

                • #18

                  #18

                  Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

                  Originally posted by Nataraajg007 View Post
                  "It is good for farmers". It does not mean they are low. That area is more suitable for farmers.

                  L & T estancia is struggling. Now L & T has 4% share in Satyam and loosing good amt of money. Clear picture will emerge on these areas only by 2012 ie till that time IT is down
                  few years ago annanagar was suitable for 'milkman' only so many of them there.i studied there.thiruvanmiyur and neelangarai were fishing villages not long ago.
                  omr was not safe in the night few years back.my cousin did his b pharm at thoraipakkam. i had to take my indsuzuki there as he could not find any autos(1998) to come home.

                  Comment

                  • #19

                    #19

                    Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

                    Hello all,
                    For your kind advice!!Please dont buy / book any appartment in HIRCO Palace gardens ,Chennaii have boooked an single BHK appartment Longleat -I in 2008 with a booking advance of 4.85 lakhs still now no approval and i have planned to cancel my booking last year end.They are making me to run here and there and no responce To your kind notice there is no email id you can find in the website for chennai and u can never get a single mail from their side.After months together of fight with the Head Bora and the lady in Mumbai Pripal they say the compnay is not in a postion to give money and we can do what ever we want do any thing legally they have told,inspite of having all receipts and documents .I have no option of doing any thing now.Please advice i am almost waiting for 4 years + 1 yr for refund.HIRCO are hi fi cheat and frauds,playing with the hard earned money of working class people.
                    Last edited August 22 2013, 09:35 AM. Reason: Number erased

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                    • #20

                      #20

                      Re : Hiranandani Palace Gardens, Hiranandani Builders, Umayalparamancheri, Chennai

                      Duplicate Thread: Duplicate Thread being closed. Original Thread: https://www.indianrealestateforum.co...chennai?t=1841
                      Thanks

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