Hi,

Any views/comments on this new VGN Hazel?
Currently there prelauch offer is Rs. 2799 /sqft.
I was told a 2bhk appartment of 1062 sqft is 3652000 (including registration).

Any suggestion on whether its worth in that area?

Thanks
Lakshmanan
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  • Located within 3kms from avadi where you get all basic life amenities and good connectivity to central etc.. .. I feel it is better compared to remote s*** where you don't even find a single hospital . Suitable for own living or who have work preference in west chennai.
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  • I hv also seen this...But if you add everything it comes around 3,450/sq/ft.....Is it worth for that area?...when is the completion date for this project ....hope will take minimum 3 years from now..is it accessible to main roads?....
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  • VGn Hazel

    I am looking for a 2BHK apartment is chennai and budget app 35 L. came across VGN Hazel and thought of checking it out. Planning to go this saturday. I checked with them over phone and it was a typical Salesman kind of talk.
    Has anyone visited the site ?
    IMO VGN has priced the project just fine and with all amenities 2799 looks decent enough.

    Any reviews on VGN Hazel ?

    Any idea if there is any Model Flat Created ?

    Regards
    AA
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  • Vgn hazel

    Anyone has any news or reviews abt Hazel, pls share.
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  • somewhere 2200 to 2500 is worth a deal , not more than that !
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  • The design appears to be a matchbox design (pigeon hole design), which might result in low ventilation and low light within the house. Not good for the cost. Moreover high loading for small area of 5.67 acres.
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  • I live near this area. This flat is on the main road. Its 5 Kms from AVADI and 4 KMs from poonamalle high road. Anna nagar and koyambedu are about 30 mins from this place. Dont know anything about the buildings though. But vgn is a famous builder and has built many apartments in Chennai. I enquired another apartment on the main road abiut 1 Km from this place and they said 3600/sqft. All the best in deciding your home.
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  • The design is very good with huge open area with courtyard in the front side and also in the back there is huge open area. The blocks are designed to have a excellent ventilation. Also the project specifications are good compared to the others. Rate is very competitive compared to other projects in the same vicinity. It is definitely a better buy.
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  • VGN people started their marketing.........
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  • @rocketpop
    can you tell me the builder name? is that towards karayanchavadi? or avadi?
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  • Aswini towers on their way next to VGN Hazel.
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  • Hi all,

    This is my first post in this awesome forum!

    I'm looking to invest in a 3 BHK apartment in VGN Hazel and I visited the site last week. I liked the model flat and was also attracted by the 'no pre-emi until possession' offer for the 3 BHK apartments.

    I've read, elsewhere on this forum, about the pros and cons of the 'no pre-emi'. My main concern is whether this particular builder will keep his word on the offer. Is there anyone else out there who has availed this offer?

    Also advise on what are the things to watch out for with this builder. I'm a newbie and buying a property for the first time - so any help is appreciated.

    Thanks
    Sriram
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  • While attracted for no pre emi, things to check out...

    Price of the apartment compared to at least three projects near by with reasonable similar construction stage and facilities.

    Is no pre emi till handover or for how many years.Handover date, what is the builders liability if the construction is delayed?

    Which banks are providing this offer for this project. What is their interest rate and clause if you need to change your bank before and after hand over.

    Sometime last year RBI issued a notice that no pre emi scheme is banned or construction link payment should be made to the builder by banks. Ask your bank how are they going to pay builder.

    Ask your builder what is the other option of payment plan if you are not opting pre emi. Compare that to assess your risk.

    These schemes come with price adder or risk, know them before you sign sometime they can be beneficial also.
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  • Originally Posted by iceemani
    While attracted for no pre emi, things to check out...

    Price of the apartment compared to at least three projects near by with reasonable similar construction stage and facilities.

    Is no pre emi till handover or for how many years.Handover date, what is the builders liability if the construction is delayed?

    Which banks are providing this offer for this project. What is their interest rate and clause if you need to change your bank before and after hand over.

    Sometime last year RBI issued a notice that no pre emi scheme is banned or construction link payment should be made to the builder by banks. Ask your bank how are they going to pay builder.

    Ask your builder what is the other option of payment plan if you are not opting pre emi. Compare that to assess your risk.

    These schemes come with price adder or risk, know them before you sign sometime they can be beneficial also.

    Iceemani - Thanks a lot for your inputs!

    The per sq ft price of the apartment is the same or lesser than other apartments in the vicinity (Newry Celestial, Shantha towers etc.). The offer is valid only for 3BHK apartments as they have a lot of unsold 3BHK apartments and they want to boost the sales.

    I should clarify that 'no pre-emi' is not being offered by the bank - instead it is the builder who will be paying my pre-emi for a period of 18 months from date of signing or handover, whichever is earlier. Handover is expected by Dec 2015 with a 6 month grace period - after which the penalty clause will kick in.

    This offer is available only if I get a loan from Axis bank. Their interest rate works out to be 10.25 % - I still have to check with the bank to understand better about the terms of the loan.

    My main concern is the reputation of the builder - how good is VGN's construction quality and whether they keep their promises made at the time of selling?

    And also want to know if someone has burnt their hands in this kind of an offer!

    Thanks once again.
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  • Originally Posted by sriramvraman
    Iceemani - Thanks a lot for your inputs!

    The per sq ft price of the apartment is the same or lesser than other apartments in the vicinity (Newry Celestial, Shantha towers etc.). The offer is valid only for 3BHK apartments as they have a lot of unsold 3BHK apartments and they want to boost the sales.

    I should clarify that 'no pre-emi' is not being offered by the bank - instead it is the builder who will be paying my pre-emi for a period of 18 months from date of signing or handover, whichever is earlier. Handover is expected by Dec 2015 with a 6 month grace period - after which the penalty clause will kick in.

    This offer is available only if I get a loan from Axis bank. Their interest rate works out to be 10.25 % - I still have to check with the bank to understand better about the terms of the loan.

    My main concern is the reputation of the builder - how good is VGN's construction quality and whether they keep their promises made at the time of selling?

    And also want to know if someone has burnt their hands in this kind of an offer!

    Thanks once again.


    you are getting a loan from axis bank and builder is going to pay the pre emi for you. After 18 months bank reserve the right to collect pre-emi from you even if the flat is not handed over.

    I can say any builder will use that 6 months grace period and even beyond. That is what happens with most builders, just not vgn.

    When does a penalty clause apply, they will say rain, water issues as natural stuffs and clause will not apply. Check that without fail.
    Banks, don't keep the interest rate same for ever, in next repo rate increase they will increase the rate of interest. So it is a trade off between delay penalty provided by builder and rate of interest. Decide based on it. Current construction status could give you an idea if they are really practical to complete by dec 2015.

    Vgn as a builder is relatively new compared to their land development. I vaguely remember in past enquiries that there are two vgn's. kind of sister concerns. Check which one you are dealing with and their past projects.

    There is another thread in this forum, which says vgn has built unapproved units deviating plan and panchayat has issued notice to the association for demolition.

    Compare cmda approved plan vs actual, if there are deviation, it is an associated risk.

    I don't know about construction quality, you may have to visit completed projects.

    Also check the exit clause if any from the axis bank loan.

    All these may sound negative, but knowing all these will help you to make an informed decision.
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