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Hiranandani Upscale House of Hiranandani OMR Chennai

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Hiranandani Upscale House of Hiranandani OMR Chennai

Last updated: October 10 2017
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  • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

    I think we getting confused between upscale Sea View large floorplan towers in Oceanic, Bayview, Seagull, etc with non-sea view towers like Amalfi, Edina, Tiana, etc with smaller floor plans.

    Phase I has 2-BHKs of 1200sqft size. I think many are in resale market with prices as low as 75L onwards with modular ktichen and nice specs.
    It is not like a completely new segment. It was always there.

    They released Oceanic, Bayview and Seagull, one after another.
    Especially the specs in Seagull could have thrown many people away, including myself. I underestimated the range of amenities and size of units in Seagull.

    I still do not think we will not see smaller units in the sea view towers for sure.
    I think there are only two such towers left, Marinas and Octavius.

    I think we got to see the Hira as mix of two townships.
    Luxury sea view towers with regular mid grade non-sea view towers.
    Last edited September 29 2013, 04:07 AM.

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    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      Originally posted by nabishek View Post
      You are missing the point..Both Amalfi and Tiana are product of the same thinking from HIRA..I think there can be no meaningful comparision, rather we should compare it with other phase-I towers to get proper perspective..Amalfi price has been reduced and plan changed, Tiana launch and price was announced just recently..before announcement of these projects, It was popularly believed that the minimum entry price of HIRA is 1C+ and this premium township was unreachable to people talking in lakhs..many were expecting launch of only bigger homes and no more 2 BHKS..now the landscape has changed and new segment being targetted..thats the point of discussion.
      Yes, this is the focus of discussion ever since Tiana was launched. When Hira surprised everyone by shrinking Amalfi unit sizes and reduced base rate we already had an indication that they are struggling to sell larger units, be it sea facing or OMR facing.

      The biggest question is will they dilute phase-2 gentry further?

      @Nabishek,

      Even though you don't participate very often (most likely due to shortage of time, I wish you have more time), you always have a good grasp on core topic. Maybe because you don't bother about distractions and personal attacks. I wish I can be like you one day.
      Last edited September 29 2013, 05:27 AM.

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      • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Originally posted by Love4land View Post
        The biggest question is will they dilute phase-2 gentry further?

        Answer: OMR does not have a market for 4000+ luxury apartments.
        I do not think any of the suburbs has such a market.

        No-one is going to want a luxury unit in a non-seaview building.
        Biggest attraction for Hira is the height (Tallest buildings in Metro region) and the sea view. Amenities, School, location also play a huge role, but they are not a big unique feature, still important add-ons.

        Lets not confuse OMR with Poes Garden or Boat Club.
        Even in the city it might not be an easy sell, but we do not have such a large parcel of land.

        Phase I has 2-BHKs so not a big deal to have them in Phase II in tough to sell low floor non-sea view towers.

        I think the issue here is difference between 3-BHK units such as the one on Edina (released two years ago) vs Tiana.

        No point on comparing Seagull vs Tiana.

        Can we focus on Edina/Amalfi/Tiana.

        Keeping the psft is same.
        Do you guys think there is a big difference between gentry on 60L apt vs 80L apt.

        For me, the suburban market can be broken into.
        20L budget segment - low cost builders, resale units, TNHB, etc.
        EWS 1-BHK bought by NRIs fall here.
        25-35L segment - 2-BHK in projects like Lotus Pond, Today, etc.
        40-50L segment - Entry level IT Employees, 2-BHK suburban market like Shols, starter housing for white collar folks. Biggest segment by far.
        65-75L segment - 3-BHK in extended suburbs or 2-BHK closer to city.
        75L to 1C segment - 3-BHK premium
        1.5C-2C+ - High end segment.

        I think that the gentry difference in the 50L 2-BHK segment and 25L segment is huge.
        But then there is lesser difference between the bands except for the high end, above 2C. You can make 65L-1C as one big band too.
        Last edited September 29 2013, 05:28 AM.

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        • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

          Hi
          I am new to this forum and need some help.. I did read some threads and as i am trying to invest in my first home, would certainly appreciate your response about pros and cons . projects i am looking at Hiranandani , Akshaya , Albatross or something closer to shol will be great too.

          Thank you

          Comment


          • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

            Originally posted by k11 View Post
            I think we getting confused between upscale Sea View large floorplan towers in Oceanic, Bayview, Seagull, etc with non-sea view towers like Amalfi, Edina, Tiana, etc with smaller floor plans.
            Please note that Amalfi has the largest 3BHK flat in the entire Hira Upscale township so far (2325 sq.ft), with all inclusive price ranging from 1.6 Crores to 2 Crores (based on the floor). Its almost same size as the 4BHK in Oceanic and bigger than the units in Bayview. And it has canal/sea facing balcony though the view would be narrow between 2 towers.

            Out of 5 units in Amalfi, only one of them is comparable with Tiana.
            Last edited September 29 2013, 12:18 PM.

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            • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

              Yes, I agree. I am just comparing the smallest unit of Amalfi, I think 1525sqft at 80L.

              The point I am coming to is,
              Is there a significant gentry difference between Tiana (1000-1400sqft) and the followiing.
              1525sqft Amalfi
              1445sqft Sinovia
              1445sqft Edina
              1295sqft Seawood/BrentWood/Pinewood

              Sinovia and Edina fall in the 80L segment
              Amalfi falls in the 75-80L segment
              Phase I resale units are in 75L segment.
              Tiana starts at 60L and ends at 80L.

              For me, they are not far apart and they do overlap each other.
              But would like to see other's opinion too.
              Last edited September 29 2013, 08:39 AM.

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              • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                Originally posted by k11 View Post
                Srivat and others posted comparison that Tiana is actually more expensive than Amalfi looking at a pure per sqft basis.
                Even L4L agreed, now I do not know whay it is being posted as a very cheap unit and Hira discounting it.
                Yes I did say that when compared with Amalfi. But not at all tower level, when compared it is not.

                I also said that 4 to 5 years later when all go into resale market the selling price across towers will not vary much and that is the reality IMO.

                Originally posted by k11 View Post

                Keeping the psft is same.
                Do you guys think there is a big difference between gentry on 60L apt vs 80L apt.
                Now gentry has multiple meaning. Is it in financial or behavioral sense?

                If it is behavioral followed by financials, Yes it is in an place where apartments are getting expensive and unaffordable for even upper middle class. 30+% is huge. We are people who run after 100 to 200 psqft discount to see if we can get an bargain.

                Also I feel it matters to you as well as you were ready to buy 10 flats if 55 lakhs (all incl) 2 bhk in tiana is given at 50 lakhs. Hardly 10% difference compared with 30% above.

                Please correct me if I have misrepresented your wordings as I commented based on my understanding of your post and not reading between lines. Discalimers is very essential these days.

                Originally posted by k11 View Post
                Tiana is not a good deal compared to Amalfi on every parameter.
                3-BHK buyer should look at Amalfi.

                Tiana is only for 2-BHK units. They need to discount the 3-BHK much more.

                I hope they bring 2-bhks to under 50L (+reg,ST,VAT) price all inclusive with two carparks. I am fine with a seperate smaller clubhouse with lesser amenities, reduce 3L club house charges to 1L, takeaway 3L dev charges, give one extra carpark or tandem bigger carpark which can accomodate 2 small cars next to each other or behind one another.

                I would jump up and book up 10 units at such price. 4 for myself and rest for friends and family. Slow market is just beginning, I am sure there will be deals abound.

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                • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                  Originally posted by k11 View Post
                  Yes, I agree. I am just comparing the smallest unit of Amalfi, I think 1525sqft at 80L.

                  The point I am coming to is,
                  Is there a significant gentry difference between Tiana (1000-1400sqft) and the followiing.
                  1525sqft Amalfi
                  1445sqft Sinovia
                  1445sqft Edina
                  1295sqft Seawood/BrentWood/Pinewood

                  Sinovia and Edina fall in the 80L segment
                  Amalfi falls in the 75-80L segment
                  Phase I resale units are in 75L segment.
                  Tiana starts at 60L and ends at 80L.

                  For me, they are not far apart and they do overlap each other.
                  But would like to see other's opinion too.
                  The gentry will depend finally on who is occupying the flat..not who is buying it..For the lower priced towers the rent can be 2-3 rs/sqft less and less premium attached to it during resales..but thats it. Bigger flats need not always be for luxury..it can be split and rented out to bachelors or corporate guest house..and similarly smaller house need not be always for end use/rent..it can be for investment also..Its hard to guess now how the township will develop when the new towers are ready which is easily 5 years away from now..Unless HIRA decides to treat residents differently based on the towers..provide different access/facilities in clubhouse..school and other facilities..I dont foresee much difference in standard of living between phase I and II. Just my opinion.


                  Originally posted by Love4land View Post
                  @Nabishek,
                  Even though you don't participate very often (most likely due to shortage of time, I wish you have more time),
                  I wish I could write more..I am done with my RE investments for now and not in touch with things happening on ground nowadays..so I tend to hold back when I dont have anything to contribute..This forum is a wealth of knowledge and I am relying on the discussions here to know whats happening..I have become like a cricket match commentator Having the best seat in the stadium..no stake in the game being played..but posturing playing an important role by using the knowledge I gathered in the past to critic and provide any analysis/insights to readers if possible
                  Last edited September 29 2013, 09:56 AM.

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                  • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                    Originally posted by srivat View Post


                    Now gentry has multiple meaning. Is it in financial or behavioral sense?
                    An eye opener statement! Will money alone make a person refined? A pettai rowdy or notorious MLA with criminal record may buy an apartment worth several crores and may even move in.

                    We should stop demeaning 1 and 2 BHK buyers.

                    Also as Nabishek says, there is no way to control gentry of tenants. Investors looking at pure rental returns may or may not bother to screen tenants or restrict tenancy to only certain category of people.

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                    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      Originally posted by srivat View Post
                      Now gentry has multiple meaning. Is it in financial or behavioral sense?

                      If it is behavioral followed by financials, Yes it is in an place where apartments are getting expensive and unaffordable for even upper middle class. 30+% is huge. We are people who run after 100 to 200 psqft discount to see if we can get an bargain.

                      Also I feel it matters to you as well as you were ready to buy 10 flats if 55 lakhs (all incl) 2 bhk in tiana is given at 50 lakhs. Hardly 10% difference compared with 30% above.

                      Please correct me if I have misrepresented your wordings as I commented based on my understanding of your post and not reading between lines. Discalimers is very essential these days.
                      I guess about financial perspective, enduse and resale market.
                      Behaviours cannot be changed.

                      FYI, I am the furthest away from End Use market.
                      Will not be staying in 2-BHK in Hira. I will stick to city for now, might change my opinion after a decade but not now.

                      I am an investor like many others here - so always concerned about end users. There goes my disclaimer. In streched out projects like Hira, always better have a steady supply of endusers.

                      Anyway, the whole part Tiana got me excited was that there is a limited supply so I am comfortable holding it. Got excited initially, but now there are some cons too, particularly the second carpark being not included and also I would like to wait for official launch. I am pretty bullish about the 50L 2-BHK segment.

                      Exit routes are probably more important for a short term investments in flats.
                      Biggest things I look for is the interest cost (lowest cost of funds), getting maximum discount and value for money at acquisition and finally size of the market in future for resale.
                      First part - Interest cost is not clear yet as we can asses risk only when we see concrete timelines. Second part - I will take a 10% discount and a free carpark anyday, in places where it is hard to negotiate. We need some margin. Final one - I think this is the only portion I am willing to bet. When I get all the above things clear I can move.
                      Last edited September 29 2013, 11:28 AM.

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