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Golden Opulence Golden Homes Poonamalle High Road Chennai

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Golden Opulence Golden Homes Poonamalle High Road Chennai

Last updated: June 27 2019
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  • #11

    #11

    Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

    Congratulations Bala! Once you get your agreement copy, Please have a good look at the clauses and share any expert opinions on the same. Good luck.

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    • #12

      #12

      Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

      Originally posted by kbbala View Post
      Hi Dhanam,
      The 2BHKs are available in different sizes(minor differences in sizes though). On an average they are around 1100 Sq Feet. 20% is common area, so carpet area is around 880 Sq Feet. So, BSP is around 43L (at 3899 per Sq feet) rate. According to them, this rate is only until Dec 25 as a festival discount and the price is going to be 3999 after that. On top of that there is around 5-6 Lakhs for Infrastructure fee, Car Parking, Documentation charges, other misc like EB, Generator cost etc.. (sorry, I don't have the exact break up in hand right now)
      So with Taxes and Registration cost, you are looking for a 52-53 L for a 2BHK.
      This cost is only until 4th floor with no corner flat or road facing charges.
      If you take a corner flat you will pay 200 Sq Feet extra
      For Road facing you will pay 250 Per Sq feet extra
      From 5th floor you will pay Rs 25 for each floor you go up.
      So, you could do the Math.
      According to the builders, Out of 815 units, I think around 330-340 are sold out. I had a tough time get my preferred apartment in Tower1 and Tower6 but settled with one that has no extra cost for road facing blah blah..
      All the Best in your hunt! Please let me know if you have any more queries.

      Cheers
      Bala
      Thank you very much Bala. Is there any discounts being offered?
      thanks.

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      • #13

        #13

        Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

        Hi Dhanam,

        The only discount they are offering is Rs. 100 per sq feet until Dec 25.(Christmas offer) - 3899 per sq feet.

        After Dec 25, the baseprice is 3999 per sq ft. By Jan 2nd week they said, they are thinking to raise it to 4200(though this is just an unofficial update)

        One more discount is, in tower 7 where they have the smaller flat(690 sq feet etc..) they are waiving floor raising charges. This too is valid only till Dec 25 I beleive.

        Unlike certain projects where the builders offer freebees like Modular kitchen, wood work etc.. Golden homes seem to have no flexibility which you can view as pro or a con. The free bees usually doesn't come with good quality.

        Cheers

        Bala
        Last edited January 16 2016, 12:11 AM. Reason: Text formatting.

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        • #14

          #14

          Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

          thanks Bala got it.

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          • #15

            #15

            Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

            @nbalan: Just checking if you booked the apartment in Opulence? If yes, which tower and did you get to read the Rental agreement yet?

            Thanks
            Bala

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            • #16

              #16

              Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

              Hi Bala,

              Yes I booked an apartment in Tower 1. Before booking my Father read the agreement and felt it is fine (I didnt ask about the details though). But I didnt see anything like Rental Agreement (I was told that there will be rental reimbursement to some extent if they didnt finish it on time). I will check on the Rental Agreement you were asking and will reply you back.

              Currently I am not in India and all deals are done by my Parents and In Laws. But they are pretty knowledgeable and have good experience in such stuffs. Let me know if you have any more questions or things to share.

              I am planning to get loan from SBI (max gain). Which bank you are getting the loan from?
              Last edited January 1 2016, 04:43 PM. Reason: Text formatting.

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              • #17

                #17

                Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

                @nbalan:
                Thanks for your reply. I got my agreement also and there are a couple of points atleast slightly different from what we discussed during booking. Just want to confirm if you are in the same lines.

                1. While booking they said the handover date of the flat is June 05,2015 but the amenities will take a little more time(6 months more). But officially in the agreement they have quoted flat handover date of Dec 31, 2016 in the agreement. When I questioned, they said they will mention only the date when the community will be in full swing with all amenities. They have put a monthly late commitment of Rs. 8500 per month but we can claim it only if the flat is delayed beyond 2016 Dec (4 years from now.. wow!). This is not a deal breaker for me but was a little unpleasant to find a date more than 1 year of what they commited in person as a word of mouth! apparently they said they will finish much earlier than that since it is a bigger loss for them to keep delaying the project. Judging that is beyond me Also I inquired around and found that all/most big community projects work this way!!
                Can you confirm what is the handover date promised in your agreement? I am sure it should be same but want to confirm.

                2. Is there any mention of UDS share in the agreement. I was told 29.8% but didn't see it anywhere. Only the flat area is mentioned. Can you please check and confirm?

                I am also most probably going with SBI. I inquired both HDFC and SBI.

                SBI:
                Pros:
                Less interest rate as of now.
                10% for 30 Lakhs, 10.15% for >30Lakhs
                Processing fee: Rs. 3500
                Cons:
                Processing is not extremely efficient according to a few people and they are a little stringent on the doc verification, loan amount etc.. Customer service is not too great considering it is a nationalized bank.
                My First loan was with SBI and I didnt have any issues. But I was abroad at that time and most paper work was handled by my parents who don't focus much on customer service

                HDFC:
                Pros:
                Extremely fast loan approval, less stringent and also liberal on loan amount.
                Cons:
                Slightly Higher interest rate / processing fee.
                10.25 for 30 L, 10.5 for > 30L
                processing fee: close to 12K
                Have received very good comments from people I know on customer service. tyey give you a separate login to track payment etc..

                If you are here or have trustable people who can move paper work for you, then you can definitely go with SBI.
                Congratulations once again and best of luck on your new home.


                OTHER PROSPECTIVE BUYERS / EXISTING BUYERS reading this thread, Please share your experiences , tips , any other happenings around that would be of interest to this project. It is good to form a E-COMMUNITY and start being a family before the actual community kicks in a few years!

                Happy foruming..

                Cheers
                Bala..

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                • #18

                  #18

                  Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

                  Times has an ad today,on 1st page full page in property section.

                  26L onwards. It might be for the 690sqft apt. Does look interesting indeed.

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                  • #19

                    #19

                    Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

                    Hi Bala
                    Happy New Year to you and your family! And Congratulations for your New house.

                    My Parents/In-Laws are moving the process there in Chennai. I was informed that we havent got the agreement yet. You got your agreeement as soon as you booked or it took time? I am aware that the project completion date would be 2016. And yes, they informed the same to me (would end by 2015). Its not a deal breaker for me too. I will confirm whats there in mine once I got the agreement.

                    And I heard HDFC is good too but their interest calculation is different and would cost you a bit more (I was checking with my Parents - as both are from Bank background). If you are planning to add additinal amount to EMI whenever its possible its best to have a loan plan which has offset loan account or Overdraft loan account. One advantage in Max Gain is that you can drop additionla amount apart form EMI in the OD account and thus reducing the number of EMIs (Till here it would be same as other loans. But the nice part is you can take back the additional amount in OD account and use it for someother purpose (buying car, or interior decoration etc). And since you are storing it on the housing loan sub account, the interest for it is 10.25% which is really more than a fixed deposit or if you borrow loan for anyother purpose. Guess HDFC should also be having such plan.

                    Agree. We should start an ECommunity and thus we all can share our thoughts/plan/happenings about the project and about 'soon'-to-be our colony!
                    Last edited January 16 2016, 12:12 AM. Reason: Text formatting.

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                    • #20

                      #20

                      Re : Golden Opulence Golden Homes Poonamalle High Road Chennai

                      Happy New Year to all!!

                      @nbalan: Thanks for your inputs.

                      I got my agreement 4 business days after booking but you need to follow up though. I am sure SBI would need the signed agreement copy to proceed with loan sanctioning.

                      I decided to proceed with SBI too. A little strict on their policies though but experts say their way of sanctioning gives a good grip for the buyer andthe seller. If you didn't know you need to complete the UDS registration for them to release any loan at all. I initially planned to do the UDS registration in March but since I want to choose SBI, I might have to do it in Jan itself. Downside is I am giving 60% of the payment in Jan itself while I owe only 40% by Jan. A little more interest I might need to pay but their processing fee and low interest will compensate or rather benefit me in long run.. In your case, since it is Tower1 you should already owe 60% as the construction for tower1 is in progress.

                      I came to know that there are a couple of people in my work place also have booked here. Let me try to drag them to this forum so that we can have inputs from many dimensions.

                      Cheers
                      Bala
                      Last edited January 1 2016, 04:43 PM. Reason: Text formatting.

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