Hiranandani is quoting around 92lacs for a 2 bedroom flat in 22nd floor. In Victoria towers a 3 bhk (1986 sqft) flat is coming around 90lacs. In the long term, which one would add more value/appreciation? Your thoughts on this please.

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  • Do mention Hiranandani Upscale size.
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  • 1295sqft for 2bhk
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  • Look for resale with Hira.3 bhk you may get for around 1.1 crore & 2 bhk around 80 lakhs.
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  • Thanks Chandru for your suggestion.
    Through resale or negotiation, the cost for both 2bhk Hira or 3bhk victoria may be equal (+ or - 5%). After having personally visited most of the projects, i have shortlisted these two projects (as of now :)). The points i like in both the projects are as below:
    Hira:
    - large township with lots of amenities
    - good school inside the campus
    - growth story of powai
    Victoria towers:
    - large space inside the apartment
    - peaceful atmosphere
    Even after visiting these projects more than three times and reading through all the related posts in internet forums, i am finding it difficult to come to a conclusion. The point that is bothering me is for the same price i can buy a much spacious 3bhk in Victoria.
    As these projects are close to each other, most of you might have already looked at these projects. would be great if you could share your thoughts on these projects.
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  • Hi,
    This is certainly going to be a very tough call.That too if its your first property purchase.I know its a huge diff. with regard to floor space for almost same price.Its purely a call which has to be taken by you.I saw someone posting an add.in HINDU for 2 apartments of 1986 sq ft in 5th floor with VT.
    First weeks ad.He quoted 70 lakhs & next week it was repeated & he quoted 80 lakhs.Try to find out & negotiate.
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  • No one can resist Powai growth story but I have seen in Mumbai that properties surrounding Hiranandani appreciating well too.
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  • Buying decision needs to be primarily driven by what is important to you for living needs(space, plan, amenities etc) for the next 10-15 years - if you are going to call it your home. Use a score sheet with listed attributes on what you look for in Upscale and Victoria and see how it fares - go only by what you need and not by what it offers.

    If Victoria meets your needs and if there are no huge compromises, go with Victoria. Victoria at 50% more space and from a builder Suryavardhan estates (may not be famous for residential in chennai) but at least they have some history of being in this business for long and have some landmark buildings in chennai. Check their delivery commitment, though. OMR is notorious for even reputed builders lagging in delivery.

    It is a hard call to make on which is a better investment. But, entry price is a significant factor which determine the returns over a long term when all else is equal (for your needs). Perceptions are very high on Hira and they have no competition in that class which makes it a crowded investment today. Historically, crowded investments do not yield good return over a long term as too much gets priced in upfront.

    Maverick
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  • Agree with maverick on entry price and timing before crowds start pushing the price which is now factored in by builder Hira. One must have entered in 2008 to 2010 or so to sit on comforts zone . Now with recently increased base price and extra car slot cost of 9 lacs by Hira , it is very difficult to compare and take a call with VT.

    Hira is an established Residential cum commercial township development player and VT is an Commercial building developer with landmarks of Spencer,TT,Taj,RBI etc and new entrant to Residential Segment

    You must have comparative statement by now to to conclude with pros and cons before jumping into your choice which is ultimately final consciously for your Invetsment based on your budget and likings

    Originally Posted by maverick007
    Buying decision needs to be primarily driven by what is important to you for living needs(space, plan, amenities etc) for the next 10-15 years - if you are going to call it your home. Use a score sheet with listed attributes on what you look for in Upscale and Victoria and see how it fares - go only by what you need and not by what it offers.

    If Victoria meets your needs and if there are no huge compromises, go with Victoria. Victoria at 50% more space and from a builder Suryavardhan estates (may not be famous for residential in chennai) but at least they have some history of being in this business for long and have some landmark buildings in chennai. Check their delivery commitment, though. OMR is notorious for even reputed builders lagging in delivery.

    It is a hard call to make on which is a better investment. But, entry price is a significant factor which determine the returns over a long term when all else is equal (for your needs). Perceptions are very high on Hira and they have no competition in that class which makes it a crowded investment today. Historically, crowded investments do not yield good return over a long term as too much gets priced in upfront.

    Maverick
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  • There is a way to express such dilemma in choosing in stock market parlance.

    Good company. Bad Stock - this is what Upscale is today. Stock is what you pay and Company is what you get.

    Average (Decent) company. Not-a-bad Stock - is how I would view VT (Note: Am not saying it is a good stock).

    Above applies for investment only and nothing else. This should be secondary when you are buying for primary residence.

    Maverick
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  • @veenasaran,

    Three BHKs are generally used to be the choice for investing bigger amounts. They can appreciate more and get more per sqft. I always thought 1C is kind of a barrier for 2-bhk.

    But things are changing, I am seeing even some 2-BHKs crossing 1C in price, that too in resale market.

    Hira is a wonderful township, best in OMR area.
    Victoria offers tremendous value and unit size is really good.

    You do have a tough choice.

    Is this Hira unit in phase II or a resale one on phase I?

    Is this for end use or investment?
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  • Thank you all for your kind suggestions.
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  • Originally Posted by k11
    @veenasaran,

    Three BHKs are generally used to be the choice for investing bigger amounts. They can appreciate more and get more per sqft. I always thought 1C is kind of a barrier for 2-bhk.

    But things are changing, I am seeing even some 2-BHKs crossing 1C in price, that too in resale market.

    Hira is a wonderful township, best in OMR area.
    Victoria offers tremendous value and unit size is really good.

    You do have a tough choice.

    Is this Hira unit in phase II or a resale one on phase I?

    Is this for end use or investment?

    Thanks K11. The Hira unit i was referring is resale in phase I.

    I am looking at this for a long-term investment.
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  • For 2-bhks, lower floors offer better value. If you want for end-use then higher floors are fine. The extra 750-1000/sqft for higher floors might not be appealing to everyone.
    Although I like higher floors when I have to stay. For rents, you might not get the incremental value.

    Did you look at Sinovia?
    I think the smaller 3-bhks there would fall in your budget.
    No sea view here though. But it is in the front, near the club house so it is a bit better.

    If you can extend to a 1.1C, then the 1695sqft unit will fit your needs.

    If not, the smaller 1445sqft will be in your budget. For end use, you can always combine the two smaller bedrooms to make one mastersuite or keep as separate rooms.
    You can put up a drywall in between if you decide to split.

    Not sure, when it will become ready, but for short term you can always rent in Phase I until the units get ready.


    Hira might not build smaller units (<2K sqft) anymore, get it while you can.
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  • Can someone detail about the powai growth story? Tried searching. Thanks.
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  • Hiranandani bought huge land parcel from government for dead cheap rate with "noble intention" of building cheap housing for public servants and middle class. They turned it into profit making venture and raked enormous profit until high court passed judgement recently to stop further construction until they honor the earlier commitment of building and selling EWS units at affordable rates. This is the real Powai story.

    http://www.dnaindia.com/money/report_hiranandani-cant-construct-on-plot-before-making-affordable-homes-hc_1653680
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