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Parking space for 650K USD in Hong Kong.

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Parking space for 650K USD in Hong Kong.

Last updated: December 3 2012
35 | Posts
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  • #11

    #11

    Re : Parking space for 650K USD in Hong Kong.

    It seems lot of RE agents who work around OMR lurking around here with different login handles

    Caution warranted for casual surfers of this forum to understand the hidden meaning behind posted msg supporting one project over others!

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    • #12

      #12

      Re : Parking space for 650K USD in Hong Kong.

      Originally posted by RaviCbe View Post
      It is a ground Raality. Soon builders will hike the extra car slot charges from existing 2.5 lacs ( maximum ) due to the expenses incurred in 2 basements in their MSB upto 9 lacs . It depends upon how good the location is, Reputed the builders are with choice of buyers of course.

      HK was quotes as example by RandomGuy and in fact, in Mumbai, second slot was recently sold at 30 lacs as per TOI report.

      This can be done by select few builders who have high end buyers and profiles with 3-4 cars and need 3-4 slots in High end Apartements Projects .
      Chennai's FSI is very low compared to Hong Kong and Singapore, in downtown Singapore there is hardly any space between skyscrapers. However plot coverage in Chennai is still 30% for high rise buildings, so 70% of land area is free.

      Also recently government has given approval for residential buildings to construct integrated multi-storey car parks. This will bring down the construction cost of car parks considerably. Best of all, it is free of FSI. I don't foresee a Hong kong or Mumbai like demand for car parks in even Alwarpet or Nungambakkam, leave alone Siruseri.

      Integrated multi-storey car parks are not only cheaper to construct but are also safe from flooding related issues. It is always safer to park car in stilt or multi-storey car park than in basement car park.
      Last edited November 29 2012, 01:46 PM.

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      • #13

        #13

        Re : Parking space for 650K USD in Hong Kong.

        I see. What about the cosntruction cost incurred with heavy SF :4 pillars to recover the parking slot charges? Leave alone the free of FSI but who will spend money to construct that car slots and towers above it?

        Originally posted by Love4land View Post
        Chennai's FSI is very low compared to Hong Kong and Singapore, in downtown Singapore there is hardly any space between skyscrapers. However plot coverage in Chennai is still 30% for high rise buildings, so 70% of land area is free.

        Also recently government has given approval for residential buildings to construct integrated multi-storey car parks. This will bring down the construction cost of car parks considerably. Best of all, it is free of FSI. I don't foresee a Hong kong or Mumbai like demand for car parks in even Alwarpet or Nungambakkam, leave alone Siruseri.

        Integrated multi-storey car parks are not only cheaper to construct but are also safe from flooding related issues. It is always safer to park car in stilt or multi-storey car park than in basement car park.

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        • #14

          #14

          Re : Parking space for 650K USD in Hong Kong.

          LOL, these forums are real stress busters. where else can we read a comparison between downtown hongkong and siruseri

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          • #15

            #15

            Re : Parking space for 650K USD in Hong Kong.

            If I were to live in OMR, I would rather put 9L in fixed deposit and use the interest out of it to get in by call taxi.

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            • #16

              #16

              Re : Parking space for 650K USD in Hong Kong.

              it is personal choice ,, if I have 2 Cars then i need the additional car parking slot. otherwise 1 is suffice.. additional car slot is a choice rather a compulsion ..

              Originally posted by sunr2i View Post
              If I were to live in OMR, I would rather put 9L in fixed deposit and use the interest out of it to get in by call taxi.

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              • #17

                #17

                Re : Parking space for 650K USD in Hong Kong.

                CAUTION warranteed against some members who openly call for buyers for referral bonus in several forums .

                It is upto one to find who is Agent and Investor and take call accordingly by either ignoring messages or countering it by seeking additionl details. Terming Agents is simple . I also suspect many Agents are here in this forum and I take decison Not based on their info and inputs but by inferring what is all about by

                Many memers are smart enough and know where to put in money be it in Bank or RE as per their choice. We can not influence HNI and NRI who are smart with multiple info and knowledge and always invest in Right Properties.

                Have you deposited in GTB and waited in que in Kodambakkam only to have Zero response ? No

                Even FD is suicidal leave alone the RE for that matter. Only your experience and and Involvement will gain you a lot with Insights .

                Nobody compared HK and Siruseri . Randomguy informed abnormal car slot rate in HK and I too informed that abnormal rate in Hira which was increased recently . It is as simple as that to construe the development happening here without any correlation

                Choice of going for additional slots as per the cars possessed by one is option available before him either to opt in and out.


                Originally posted by sunr2i View Post
                If I were to live in OMR, I would rather put 9L in fixed deposit and use the interest out of it to get in by call taxi.
                Last edited December 1 2012, 07:28 AM.

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                • #18

                  #18

                  Re : Parking space for 650K USD in Hong Kong.

                  When agents are desperate or when sales go down, agents and builders will go to any extent to market project. Comparing Siruseri with Hong Kong is just one example of desperate marketing.

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                  • #19

                    #19

                    Re : Parking space for 650K USD in Hong Kong.

                    Buyers are smart these days. No one gives a damn if you are big builder etc....your name means nothing unless they personally experience it.

                    All past performances are taken with pinch of salt irrespective of their size, fame etc..they are negotiating hard, choices are plenty, especially in the community style apartments.b

                    I do not see Chennai or Siruseri anywhere closer to HK interns of demand for premium parking space. It may just a dream for some builders to think that they can sell anything & everything by citing NY or London....Whether Chennai anywhere closer to that except population? I don't know.

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                    • #20

                      #20

                      Re : Parking space for 650K USD in Hong Kong.

                      Siruseri is comparable with an outlying suburb of Singapore in one aspect, apartment price. You can purchase a good condominium in Singapore for same price as Hiranandani upscale.

                      Rental yield in Singapore is much higher coupled with economic prosperity and infrastructure development. If anyone has 4 crores and above and intending to buy an apartment purely for investment purpose with rental yield in mind, it is better to buy an apartment in Singapore suburb than Hiranandani upscale. There are various professional companies available to manage rentals coupled with stronger Singapore dollar unlike weakening and rapidly falling rupee which will erode investment return.

                      It is hassle free for foreigners to buy apartment in Singapore.

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