No exclusive thread for Hiranandani Upscale OMR project. Thought of creating one so that we can follow the developments, Rental yields, Issues and other topics.

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  • Several members have provided some great perspectives and have been very level headed in their views - more importantly, they never concluded in saying whether it is good or bad nor did they give Buy/Sell/Hold recommendation. Right spirit that promotes healthy discussion and leaves the conclusion to the decision makers. Some subtle points have been brought to the forefront and must have been a great learning for many.

    Unfortunately, #135 and #136 is taking the discussion to the realm of pi**ing contest as to who the winner is - CNBC style. Am afraid the sanity and objectivity/reasoning based discussion we had in the last two days is at the risk of going the old way and bringing Porur and irrelevant topics is on the comeback. We should make the Good 'ol 2 days to last...

    Mav
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  • Originally Posted by maverick007

    Unfortunately, #135 and #136 is taking the discussion to the realm of pi**ing contest as to who the winner is - CNBC style. Am afraid the sanity and objectivity/reasoning based discussion we had in the last two days is at the risk of going the old way and bringing Porur and irrelevant topics is on the comeback. We should make the Good 'ol 2 days to last...

    Mav


    Nothing wrong with #135 bro... that was just info relevant to the thread from the link...
    #136 is l4l's opinion and I appreciate that he/she has posted it separate

    EDIT - browse to 9:40 to jump to the Chennai info
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  • The NDTV Property Show is not a program worth watching .It is sponsored by Puravankara and the real estate experts on the show have biased views.So do not take their recommendations seriously.


    Originally Posted by Love4land
    Thanks for posting the NDTV Analysis of Hiranandani upscale project in Chennai.

    I'll post summary for the benefit of those who are unable to view the video:

    Question from a buyer of Hiranandani Upscale and Presitge Bella vista in Chennai:

    "I own two apartments, one is at Hiranandani upscale and other at Presite Bella vista, I'm struggling to get tenant for Hiranandani upscale for 5 months, I'm planning to sell one of the two, which one should I sell?"

    Response from Real estate experts:
    -Hiranandani upscale is a good project in bad location, it is a luxury project in a locality of mid-market segment.
    -Porur is the best performing locality in Chennai.
    -Sell Hiranandani and retain Prestige Bella Vista



    this winds up the discussion in this thread
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  • Well said. What a great conclusion by one half baked member to wind up based on NDTV report which also gives Stock Buy Sell advice with some Advisors but never suceesfull .

    It is sponsored by Purvankara and Purva had a big issues in OMR just after HUS on many fronts and struggling a lot despite a standalone project . Finding a tenant for last 5 months by Audience is incredible . Had he informed that Finding a tenant at his expected rent been tough , we could have believed but it is not so.

    Anyway, the advice of selling fully completed flat is better rather than selling the under construction property in several angles.

    The Ad sponsored by Purva indirectly says OMR is for mid market segments and one may go in for mid market projects like Purva swan lake but not Upscale which is targeted for Luxury Customers


    Originally Posted by g.v.kumar
    The NDTV Property Show is not a program worth
    watching .It is sponsored by Puravankara and the real estate experts on the show have biased views.So do not take their recommendations seriously.
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  • All of Purva's projects are in OMR, then why is NDTV saying OMR is suffering from over supply, inventory overhang, etc.. and prices haven't appreciated much this year?

    Why are they recommending Porur and showing positive data about Porur when Purva doesn't have any project there?

    Why are they recommending Prestige, who are Purva's key competitor in their home territory Bangalore?
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  • You must ask prop equity advisor and NDTV . News channel advice may be correct or incorrect .

    Many news channel start giving Stock buy and sell tips too along with RE advice and we know what will happen in real market when advisor advice to sell a particular stock . When he advises SELL, All innocent viewers will phone to the broker to sell but Operator who buys will jack up after buying all weak buyers share. Samething applies here too seriously but not in childish way.

    Any update about Sobha investor presentation materials ?
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  • Know the place in Shol but Govt is not yet firm in zeroing on that spot. Will update once it is cleared. Pumping stations will be positioned in each spot where dwelling units are more than 2000+

    Originally Posted by Arunag
    Thanks Ravi Ji for the sharing this information. Definitely it helps
    ANy idea on the proposed STP location Navalur and Shols?
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  • Dear Ravi,

    Fully agree that we cannot go by what prop equity has said.
    but at the sametime mudslinging on propequity is not going to help either.

    Do you mean to say that the we should accept the views of standard & poor,crisil, & other rating organziations who rate countries and economies just because they pay their employees well ??

    Any opinion is just interpretation of data over a particular period of time. Am also sure the same propequity wud have said something positive about hiranandani in any earlier discussions.

    Review for a property when it was launched and review after 1 year will be different. In this discussion hiranandani was knocked down due to heavy inventory overhang as compared to prestige. But wether upscale is a gem in the wrong location is upto members to give thier views.

    Regards
    Ganesh
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  • Originally Posted by Arunag
    Thanks Ravi Ji for the sharing this information. Definitely it helps
    ANy idea on the proposed STP location Navalur and Shols?


    From what I heard,Navalur STP is cancelled/dropped (I cannot confirm that with source) and a new extra large STP is coming up in Porur.

    Sriperamputhur,Thambaram & shols are getting Mid size STPs.

    Porur & Villivakam are getting 2 largest STPs in Tamil Nadu.
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  • Here is news article about new STPs, there is no mention of Navalur:

    The Hindu : Cities / Chennai : Metrowater plans more sewage plants

    Villivakkam - 120 MLD
    Sholinganallur - 120 MLD
    Porur - 150 MLD

    @Economist,

    Why tarnish Porur by grossly exaggerating it as largest STP and saying Shols will be mid-sized STP?
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  • Here is what I think of Hira Upscale vs Prestige Bella Vista

    Time Taken
    Prestige Bella Vista is a good project but it will take way more time before first family moves in. It is not small, around 25 acres I think. Hira will take way more time, but a major portion would be complete in the next couple of years. Phase I is ready, II is also nearly done, III will be done in few years.
    Edge to Upscale.

    Location and Township
    Biggest problem Bella Vista is the lack of major neighbourhood townships. Navalur has nice townships, Olympia, TVH, Akshaya, XS and many more, some of the buildings like Olympia Skyvilla, Abov, etc are high end too.
    Bella Vista is not in proper porur but in Iyyapanthangal.
    Bigger township means more shops and better amenities.
    Hira wins by landslide.

    Value for Money
    Hira is bit more expensive. You also get more for what you pay.
    Bella Vists is not VFM either, but has lower entry cost.
    Bella Vista wins.

    Loading
    Bella Vista seems to have higher loading.
    Hira's newer phases are much better than Phase-I in terms of loading.
    Edge to Hira.

    Future Maintainance
    Hira is well known for this.
    Prestige also has good maintainance.
    Even

    Resale value, future appreciation and Rental
    Navalur commands lesser rent than Shols, which is bit higher than Porur.
    for rents, OMR>Porur.
    Down the road, rents might increase as the Hira township develops along with the overall Siruseri area. Heavy supply issues persist, but Hira might still command premium rentals. Bella Vists might not be able to match the returns.

    Resale value and future appreciation might turn in favour of Bella Vista in future, but is a lesser probability. Bella Vista started at 4.5K and now at 5.5K, has remained at same level for last 1 year. Hira has moved from 4.2K base 2 years ago to 5.6K for Amalfi. Returns for Oceanic has been much better, now at 6.5K I think. So resale and future appreciation will depend on building in Hira. Current entry prices are high in both the projects. At these prices, I would say Hira might be better value atleast in the end user POV.
    I would bet with Hira if given a choice.
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  • My reply in blue

    Originally Posted by k11
    Here is what I think of Hira Upscale vs Prestige Bella Vista

    Time Taken
    Prestige Bella Vista is a good project but it will take way more time before first family moves in. It is not small, around 25 acres I think. Hira will take way more time, but a major portion would be complete in the next couple of years. Phase I is ready, II is also nearly done, III will be done in few years.
    Edge to Upscale.

    Do you think Hira will develop 110 acres faster than Prestige will develop 25 acres? Any basis for your assumption? Hira is yet to announce plans for hospital, EWS, hotel, etc..

    Location and Township
    Biggest problem Bella Vista is the lack of major neighbourhood townships. Navalur has nice townships, Olympia, TVH, Akshaya, XS and many more, some of the buildings like Olympia Skyvilla, Abov, etc are high end too.
    Bella Vista is not in proper porur but in Iyyapanthangal.
    Bigger township means more shops and better amenities.
    Hira wins by landslide.

    Value for Money
    Hira is bit more expensive. You also get more for what you pay.
    Bella Vists is not VFM either, but has lower entry cost.
    Bella Vista wins.

    You are saying Bella Vista is not VFM and you say for Hira you get more for what you pay, but you conclude Bella Vista as winner. Conclusion is different from reason!

    Loading
    Bella Vista seems to have higher loading.
    Hira's newer phases are much better than Phase-I in terms of loading.
    Edge to Hira.

    What about UDS and transfer of land ownership to residents? You didn't bring out that aspect.

    Future Maintainance
    Hira is well known for this.
    Prestige also has good maintainance.
    Even

    Resale value, future appreciation and Rental
    Navalur commands lesser rent than Shols, which is bit higher than Porur.
    for rents, OMR>Porur.
    Down the road, rents might increase as the Hira township develops along with the overall Siruseri area. Heavy supply issues persist, but Hira might still command premium rentals. Bella Vists might not be able to match the returns.

    I'm not sure how you compare rents in Porur with OMR. I suspect you are comparing OMR lifestyle apartment rent with Porur non-lifestyle apartment rent.

    Resale value and future appreciation might turn in favour of Bella Vista in future, but is a lesser probability. Bella Vista started at 4.5K and now at 5.5K, has remained at same level for last 1 year.

    From where did you get this information? How could Bella vista rate remain unchanged for 1 yr when it is not even 1 yr old? Bella Vista was launched only in Jan'12 and launch rate was 4.2K, current rate is 5.5k.

    Hira has moved from 4.2K base 2 years ago to 5.6K for Amalfi.

    Amalfi is different from previous blocks, you are not comparing apples with apples. Even otherwise, appreciation of Hira is only half as Prestige BV had appreciated from 4.2k to 5.5k in 11 months compared to same appreciation for Hira in 2 yrs.


    Returns for Oceanic has been much better, now at 6.5K I think. So resale and future appreciation will depend on building in Hira. Current entry prices are high in both the projects. At these prices, I would say Hira might be better value atleast in the end user POV.
    I would bet with Hira if given a choice.



    All your analysis favor Hira.
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  • @K11,

    Please clarify what you mean by Prestige BV price not appreciating for past 1 year.
    The project was launched only in Jan'12 for Rs.4,200 psf and current rate is Rs.5,500 psf.
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  • Originally Posted by Love4land
    Do you think Hira will develop 110 acres faster than Prestige will develop 25 acres? Any basis for your assumption? Hira is yet to announce plans for hospital, EWS, hotel, etc..

    As I said, Bella Vista is not done in phases, atleast not clearly defined like Hira. Families are living in Hira. Construction in other phases is a hassle but why not take it like development in nearby township.

    Originally Posted by Love4land
    You are saying Bella Vista is not VFM and you say for Hira you get more for what you pay, but you conclude Bella Vista as winner. Conclusion is different from reason!

    Both are not candidates for VFM. Hira has higher PLC, but you get better fittings and nicer specs for the additional amount you are paying.
    Hira is bit better. It is all relative.

    Originally Posted by Love4land
    What about UDS and transfer of land ownership to residents? You didn't bring out that aspect.

    I do not know about UDS in Bella Vista and how it is handled.
    Anyway I can give this category to Bella Vista.


    Originally Posted by Love4land
    From where did you get this information? How could Bella vista rate remain unchanged for 1 yr when it is not even 1 yr old? Bella Vista was launched only in Jan'12 and launch rate was 4.2K, current rate is 5.5k.
    Originally Posted by Love4land


    Hira has moved from 4.2K base 2 years ago to 5.6K for Amalfi.

    Amalfi is different from previous blocks, you are not comparing apples with apples. Even otherwise, appreciation of Hira is only half as Prestige BV had appreciated from 4.2k to 5.5k in 11 months compared to same appreciation for Hira in 2 yrs.

    Pretige was prelaunched in 2011. It might not be 2 years ago, more like 20 months ago.
    Amalfi, Edina, Greenwood, etc are all similar specs. So I used Edina's price.
    Oceanic, Bayview are higher speced.

    Hira has enjoyed better returns definitely.

    You still close Bella Vista for lower today. Discounts are available.
    Try that in Hira. You will be shown door for 5.2K.

    Also PLC has also appreciated. Floor rise I beleive was lower few yrs ago.
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