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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

    Customization was hardly an option in Phase 1 and 2 and many could not change as Builder handover flat first. Changing marble floor after handing over to the ones preferred choice of Italian marble is costly affair.

    Having understood that , they launched Tiana with low end Spec so that customer will opt for required spec or simply ignore and change later .

    This way, initial cost is being reduced and customization is offered .

    It is the Structure and Design of buildings that matters but not the fittings and floorings which are replenishable .

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    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      Pvc

      REC

      Can you please clarify on PVC? As far as I know, I don't recall any Price Variation clauses with Amalfi. are you refering to the fact that Hira may fluctuate prices per market conditions. How would they change the rate from the rate that one has already entered?

      thanks

      Comment


      • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Originally posted by SRaj001
        I made some comments such as - companies who tried to build or built tallest buildings have never had good fortunes - its a matter of fact.
        Above is a superstitious belief regardless of how consistent such occurences may have been. It is a matter of fact does not help neither. I have already stated that Arihant tower was the tallest in Chennai prior to HUS - what happened to the towers or Arihant? Just wanted to debunk this kind of stories which only has entertainment value.
        Originally posted by SRaj001
        Even BURJ DUBAI could not survive and keep its name and got bailed out and got renamed by Burg Khalifa - thanks abu dhabi bail out.
        What has this got to do with HUS? Will they need a bailout just because they happened to construct the tallest tower in Chennai? Fooled by Randomness explains how such random events influence our mind to force a correlation which may not necessarily exist.

        Skyscrapers' bust: Article here carries some explanation as to why this jinx could be seemingly consistent:

        Many analysts say those policies seeded a credit boom of easy money and a building boom of unneeded or ostentatious properties that are now coming back to haunt constructors and investors.
        Originally posted by SRaj001
        But Hira was a brand that was portrayed as nothing could impact them, the dropping of Seagull is a statement that even the mighty can fall.
        Above is an example of bashing tone, resultant of individual preference (or bias), that was prevalent in this thread. Economic conditions make businesses to reconfigure/retool their product mixes to thrive. Dropping Seagull in nascent stages could be a business decision driven by lofty projections of an expectation that did not materialize. Happens in every business and every sector at different times. Can anyone sound a death knell from above and make statement to the effect, "even the mighty can fall"? Is this a matter of fact? Far from it. More of what rganeshin says which implies it is pure business.

        Originally posted by rganeshin
        Hope HIRA continues this practical approach.
        Last edited February 18 2014, 07:46 AM.

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        • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

          Actually i meant to write even the mighty can fail but it turned out to be fall
          Not my intent - so rephrase even the mighty can fail and i stand by it
          Yes the skyscraper's bust is a myth but there is an economic theory behind it - please objectively analyze it , this is not Hira bash or bias at all.
          Large enterprises/ companies / sovereigns / governments set out ambitiously to build tallest / largest / biggest projects often times at 50 to 75% penetration point into a Boom cycle.
          The first half of the boom cycle happens without most knowing we are in one say ( the rise of S&P for 1100 to 1400 past year ) and the next phase happens when many institutions realize it and push it further ( say 1400 to 1750 ) and then the retail investors follow the tail end ( 1750 to 1850 -- again this is just an illustrative example) --
          So when you set out to doing these largest / biggest / tallest endeavors what happens is , by the time the project is 20 to 25% underway, the business cycles tilts and we head to contracting economies, bust followed by recession / stagflation / depression as may be the case.
          the ones who have overcome this and succeeded are the FAST executing projects - case in point - EMPIRE state building
          So regardless of whether you call this myth or entertainment value the repeatability of these large projects going just bust has an economic reason and paradigm to understand and make meaning out of.
          You cannot simply brush and say its inconsistent and so it holds no reasoning.
          I picked on Hira and Albatross specifically because they were trying to build this at a seemingly slowest point in the RE market as agreed by all in this forum. Such large undertakings in an anemic environment has more ODDS against than for. The announcements of sea gull is just an example.
          Next - Arihant example - no issues in it, if im not wrong was it a 18 or 20floor building and we have many 30 floor buildings done just well in chennai no problems, why is the 48 and 50 floor buildings just got this jinx while the many other 30 floors are just moving along just fine ?
          Last edited February 18 2014, 10:23 AM.

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          • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

            Originally posted by SRaj001
            Actually i meant to write even the mighty can fail but it turned out to be fall...
            We are talking about a tower of a project of the company. May be this is 10-15% of the project size? Where did they fail or how is this a failure? I feel they are smart enough to nix it early on, seeing not so conducive conditions. For a long term project of 10 year vision with long gestation, market cycles continue to throw spanner in your projections and how businesses adapt quickly by making changes is the order of the day.

            My contention is that reading the market and nixing a product is a norm in any business and is business as usual and where I disagree is that, when being portrayed as Hira failure or HUS failure - not at all. In any business, you don't need a winner in every thing you do and some of the most successful businesses just get 6 out of 10 right. In that 4, they need to be proactive and cut the losses and do whatever it takes to minimize the exit costs.

            HUS is a failure if:
            * Majority of the towers have execution issues
            * Majority of the towers could not be sold
            ----More of above--
            Large enterprises/ companies / sovereigns / governments set out ambitiously to build tallest / largest / biggest projects often times at 50 to 75% penetration point into a Boom cycle.
            The first half of the boom cycle happens without most knowing we are in one say ( the rise of S&P for 1100 to 1400 past year ) and the next phase happens when many institutions realize it and push it further ( say 1400 to 1750 ) and then the retail investors follow the tail end ( 1750 to 1850 -- again this is just an illustrative example) --
            So when you set out to doing these largest / biggest / tallest endeavors what happens is , by the time the project is 20 to 25% underway, the business cycles tilts and we head to contracting economies, bust followed by recession / stagflation / depression as may be the case.
            HUS cannot be equated to any of the above. Iconic towers and skyscrapers are one trick pony kind, high octane concentrated bets with huge outlay at price points that appeals to the highest echelons.

            Look at how HUS operates. Buy 100 acres in 2005-6 anywhere between 10-20L per acre. Start the phased development with a long gestation of 10-15 years. At the maximum, they may get stuck with a tower or 2 and even that can be sold at cost and they can afford to wait to ride out the cycle and they are in no hurry as the only investment they made initially is 20-30 crore. Only risk takers in these kind of projects are the buyers and especially those with leverage - book 5 apartments with 20L each down is likely to lose the pants when the cycle turns. As they say in Poker, if you have been in a poker game for a while, and you still don’t know who the patsy is, you’re the patsy . In most of the RE projects, there is only patsy ie., buyer.

            House - well managed houses - rarely loses money unless Mgmt screws up - Hirco went ahead despite very poor demand in the area.

            Originally posted by SRaj001
            So regardless of whether you call this myth or entertainment value the repeatability of these large projects going just bust has an economic reason and paradigm to understand and make meaning out of.
            You cannot simply brush and say its inconsistent and so it holds no reasoning.
            I picked on Hira and Albatross specifically because they were trying to build this at a seemingly slowest point in the RE market as agreed by all in this forum. Such large undertakings in an anemic environment has more ODDS against than for. The announcements of sea gull is just an example.
            In fact, I have already provided a possible economic reasoning for what it may appear as a superstitious belief. However, above don't hold water with Hira for reasons I have explained above.

            Further, Hira and Albatross are no comparisons. Hira got in way too early and has a huge advantage of having got the 100 acre under the fold for pittance - their ability to ride out economic cycles is much better and leverage much lower increasing the odds of survival and thrive notwithstanding the iconic brand they had even before coming to Chennai. Albatross is a rookie who attempted to get in, after OMR became a brand, and had to enter at significantly higher prices just for the land - their stakes so high and ability to manoeuvre so limited. No wonder they folded.

            You should focus and elaborate on how HUS failed in relation to the proportion of failure of world-wide iconic buildings that you are comparing it against - this is the crux. They have to fail first to begin the comparison and dropping Seagull is not a failure by any measure are my points.
            Last edited February 18 2014, 03:31 PM.

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            • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

              It is a plain truth that HIRA was a failure for its name and fame, brand value etc...by delaying the project extensively and struggling to sell units.

              But does that make HIRA on the losing end, definitely NOT. They always remain winner and BUYERS will always end up losers unless the buyer is of investment type who closely watches every bit of movement in the market cycle, demand, price movements etc...

              Any project where the builder wins ALWAYS is a loser project for a buyer!!!

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              • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                cross posting from another forum...it would be interesting if ppl can post pics like this on the GCs beyond shols to check the level of occupancy (supply/demand) & some of the GCs were handed over more than a year ago...
                Attached Files
                Last edited February 18 2014, 07:00 PM.

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                • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                  lessons never learnt...

                  That is what very few people have been saying in this forum. There is no luxury market in this area and hira has realised it late.

                  I am posting it for the second time in these threads , the launch of one bhk condos OR 700 sqft 2 bhks are not far away....the builder will show more dynamism

                  Hira simply cannot reduce the rates for edina/sinovia or bay view because their channel partners and agents are already doing it. By saying they are not reducing the rates for these towers you are reducing their sales inquiries.

                  Well I dont know why prestige has not launched anything massive in proper omr, may be they are not interested in an already beaten to death market.
                  --------------------------------------------------------------------------
                  REC2013 Tiana was so positioned due to its Location and view facing mostly towards OMR. Inquire about Bayview and Edina cost . It is at base rate of 6100-6500 . Tiana is priced like this with PVC condition of 20-25% which will ultimately make the 60 lacs flat into 90 lacs finally and lead time is 6 years . One will end up in 1 crore though he enters at 60 lacs base rate.

                  It is for the builder to change his marketing plan based on market dynamics .

                  Of course, there is no customer and segement for 3-6 crores Flat in this region or any region in chennai ( spare the crowded city ) as on date especially for 40 floors . May be existing for 3-4 floors

                  Why Hira not reducing price of Edina , Sinovia ,Bayview and why they are Launching at lower base rate with PVC which will end up with 20-25% with customization option and long lead time needs to introspected before coming to the conclusion of just announced base rate .

                  Hira announced PVC to start with Amalfi and Tiana for the first time . There is a big surprise for cost push over a period of 6 years .

                  There is a Rat inside Drum in the form of PVC which many Outside diggers do not know

                  With Tiana launch and Seagull plan dropping,none can neither conclude nor foresee in this quick market dynamics that too from outside.

                  Why Prestige did not launch any Project in OMR is known to those outside drummers ?

                  Comment


                  • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                    Why Hira launched Tiana is not known to many but still booking crossed 70% despite PVC . Why they offered with low end Spec was only make to make customers to go in for customization at will .

                    Lead time is 6-8 years for proper occupation and when one calculates prudently the interest charges incurred and financial outgo, it would end up in 10000 per sqft at the end of Day...no at the end of Handing over time .

                    Why they launched this before Amalfi facing mostly OMR is a pure business sense and marketing model which they derived from their past success but by not consulting you and me .

                    Edina and Bayview Price negotiation is totally ruled out . The way club house is coming in sprawling 13 acres in back waters with open sports Facillities is matter of time to be thrown open in 2 months time.

                    Phase 2 club house is facing main road entrance hit point and central pillar is another milestone for phase 3

                    How one could draw line form this is not known to me as Accord is planning to inaugurate Hotel soon in left side and Allied Business group in right side .

                    None of the area in chennai can be compared with each other as each one has it's own advantage for its own limitation

                    PBV thread is silent for last one year which clearly explains how that project ?

                    Only here many flamingoes come often and take fish out of back water .

                    Nothing can be said as Failure unless one is part of it with frustration and nothing can be projected as tallest or highest until one proves it all the way
                    Last edited February 19 2014, 12:12 AM.

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                    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      Q on Q , Index will be computed and price of men and materials will be arrived at to derive actual cost and passed on to the customers . It is for the customers to rigidly insist for equal L.D Clause and it's compensation to suit their pocket.

                      Amalfi is the first tower is having this PVC in HUS followed by Tiana

                      If Amalfi owners do not agree , they may seek refund or insist for above clause is the ongoing issue as far as I know from few friends from U.S who booked over there


                      Originally posted by vivcraze View Post
                      REC

                      Can you please clarify on PVC? As far as I know, I don't recall any Price Variation clauses with Amalfi. are you refering to the fact that Hira may fluctuate prices per market conditions. How would they change the rate from the rate that one has already entered?

                      thanks

                      Comment

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