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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

    For a normal buyer it is better to be correct 2 times a day than guessing(incorrectly) 22 times a day! In whichever you look at it, there were claims that 90% booking, 100% bookings, everyone is lining up in front of HIRA to book units after units etc...all seems to be just marketing gimmick! The plain truth is HIRA is also like any other builder having very tough time selling their units and have to tailor their towers to suit the demand! They also like any other builder, delayed their projects beyond reasonable timeline, caused head-ache and probably heart attack to their buyers(not seasoned investors).

    So the humble point here is that approach HIRA like any other builder!

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    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      Originally posted by Ramchi
      For a normal buyer it is better to be correct 2 times a day than guessing(incorrectly) 22 times a day!
      My earlier statement was not addressed to *normal* buyers but for those who make blanket statements when there are several living evidences to prove otherwise. If not extremely paranoid, it can be viewed as even delusional because they do not see reality when the rest do. Eg., Haven't we heard of statements to the effect "All the GCs are dysfunctional and a failure" and when people point to L&T Eden Park, they go silent. Their intent is to create a blanket noise and avoid specifics and do a hoot-and-scoot when confronted with specifics - Kejriwal Style.
      Last edited February 22 2014, 01:03 PM.

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      • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Low Base Price + PVC or High Base Price - either way we need to understand that Hira is and will remain a premium offering.

        The well heeled investors in Hira may not worry too much about occupancy or ROI in the current slow growth scenario and may be in for the long haul. In the long term, if and when OMR does boom big time, which GC stands to gain the most? Definitely, Hira will be one of the top gainers and maybe that's what the Hira investors are looking forward to.

        On the contrary if OMR continues to remain as an area of oversupply, then we shouldn't be investing in any of the OMR projects, including Hira!

        First time investors, investors with low risk appetite, cost conscious investors etc. should avoid Hira.

        It's a High Cost - High Risk - High Reward play and for seasoned investors who understand this and have done their due diligence, it may well be an apt investment choice.

        At the same time, I feel that PVC should have been mentioned upfront clearly to the investors of Tiana and Amalfi and not pushed through via sale deed...

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        • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

          What you quoted in forums regarding PVC will not help a buyer who has booked without knowing the clause. That needs to be told upfront by the marketing team transparently.

          You mentioned - "The buyer who got the surprise PVC need to pull out boldly by claiming interest charges or change it . As simple as that" --- Which means the buyer has to get prepared for a fight with the builder...and from this statement it seems the builder deals with each buyer either informative or gullible in a different way.

          Occupancy - Is important for any community / township to survive and is a cause of concern for end users not for investors who will wait for the baton to be passed to the next person in the relay race.

          Well yes people with holed pockets have started to read about hira since the builder has decided to target the segment with towers like TIANA, due to the bad experience with the SOUND AND PROPER POCKETS SEGMENT.

          With respect to hira, only rtm is best no doubts on that. Even today many resale flats are available. Not only you many will hesitate to buy in amalfi and tiana with pvc clause.

          Exchanging flats in finished towers instead of seagull with attractive rates is a master stroke/ brahma astra by the builder to sell existing completed stock though I doubt few took it.

          Hope they dont come back one fine day when the market picks up and say TIANA is dropped to give way for a luxury tower.



          Originally posted by REC2013 View Post
          Refresh your memory .

          I was the one told that PVC started with Amalfi for infoseeks post and it is started to Tiana too.

          It is prudent to get out of Amalfi If things are not workable . That was my advice to many who booked including sknanna ,a forum member here

          What else can you do here without knowing anything about Construction and clauses just by booking 60-70 lacs budget flats in PBV


          Occupancy . Who asked you to Bother and it's for the owners and investors to bother.

          The buyer who got the surprise PVC need to pull out boldly by claiming interest charges or change it . As simple as that .

          This project is not meant for people like you who have holed pockets but for sound one who understand and wait . Do not faint

          It is for the customers to see what it costs for military cut and Desired cut and sit in saloon knowingly provided money is in the pocket or else something will be cut .

          What do you try to say ?

          RTM flat is always perfect . I have chosen my recent Invesment in 3 BHK of Phase 2 almost close to the cost of 4 BHK Oceanic flat way back in 2009 when I has plenty of resale flats in Phase 1 at 30-40% discount .

          I did not choose because I know the difference between each tower and spec . As simple as that . I do not bother about 30-50 lacs difference for Spec ,View and Where it is positioned


          I will not buy into Amalfi and Tiana with PVC and will refrain in toto as lead time is more than 6-7 years from today .

          Seagull was planned , sufficient bookings not received and dropped by decently by paying back Advance with interest and of course alternative flats in finished towers at attractive rate was offered for interested customers . Some chose to go away and many booked in offered towers .

          Now pulling seagull and Hira is not correct . If they had not paid advance nor allowed customers to pull out when construction is is at foundation level, then we can take the mud and spil all over

          Comment


          • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

            Originally posted by Ramchi View Post
            For a normal buyer it is better to be correct 2 times a day than guessing(incorrectly) 22 times a day! In whichever you look at it, there were claims that 90% booking, 100% bookings, everyone is lining up in front of HIRA to book units after units etc...all seems to be just marketing gimmick! The plain truth is HIRA is also like any other builder having very tough time selling their units and have to tailor their towers to suit the demand! They also like any other builder, delayed their projects beyond reasonable timeline, caused head-ache and probably heart attack to their buyers(not seasoned investors).

            So the humble point here is that approach HIRA like any other builder!
            As someone mentioned due diligence is the way forward, but some crucial info will still get missed.

            Comment


            • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

              Originally posted by infoseek View Post
              With the above PVC clause, how does one analyse this project from either enduse or investment point of view...All analysis posted earlier for TIANA ( there was one by K11) goes for a toss with such an open ended clause...You don't know what you are getting into...
              Surprised to see PVC clause to this tower. Any specific reason they added this to this tower?

              Comment


              • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                Its a trap and I can assure you that you will end up paying lot more and HIRA will be laughing its back-off to those who are signing up even after so many debacles. No sane buyer to accept such clause and there are many options available in Chennai or worst case, wait for the tower to get completed then evaluate the price - again, this is for the end use buyer types. Risk takers, gamblers, investors, Black money hoarders, they obviously can share or compensate their lose of revenue or appreciation or opportunity cost with other means.

                Comment


                • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                  Originally posted by icemansails View Post
                  Low Base Price + PVC or High Base Price - either way we need to understand that Hira is and will remain a premium offering.

                  The well heeled investors in Hira may not worry too much about occupancy or ROI in the current slow growth scenario and may be in for the long haul. In the long term, if and when OMR does boom big time, which GC stands to gain the most? Definitely, Hira will be one of the top gainers and maybe that's what the Hira investors are looking forward to.

                  On the contrary if OMR continues to remain as an area of oversupply, then we shouldn't be investing in any of the OMR projects, including Hira!

                  First time investors, investors with low risk appetite, cost conscious investors etc. should avoid Hira.

                  It's a High Cost - High Risk - High Reward play and for seasoned investors who understand this and have done their due diligence, it may well be an apt investment choice.

                  At the same time, I feel that PVC should have been mentioned upfront clearly to the investors of Tiana and Amalfi and not pushed through via sale deed...
                  Long run, not just OMR, even any area will be attractive in Chennai; lets be realistic and look at it for consumption. The problem with these prices under economic conditions, normal buyer will definitely stay away (even those who have enough money to buy their first house). From the appreciation perspective , if you look at the time horizon, the valuation at the initial stage(lets say 70s-80s in Saligraman) vs present will not be more than 10%-15% max, though peak appreciation in % may be in certain periods, overall appreciation will be more or less on the above range, any investment, IMO. It is just lucky or people with inside knowledge (or some other source of information) may end up making windfall profits. Many times these windfall gains are notional and the actual realised values may not be in line with their lofty claims.

                  Lets not deceive ourselves with this long term horizon.

                  Comment


                  • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                    Originally posted by Ramchi View Post
                    From the appreciation perspective , if you look at the time horizon, the valuation at the initial stage(lets say 70s-80s in Saligraman) vs present will not be more than 10%-15% max, though peak appreciation in % may be in certain periods, overall appreciation will be more or less on the above range, any investment, IMO. It is just lucky or people with inside knowledge (or some other source of information) may end up making windfall profits. Many times these windfall gains are notional and the actual realised values may not be in line with their lofty claims.

                    Lets not deceive ourselves with this long term horizon.
                    Cmon, I don't think this is the case at all. There maybe 1 or 2 exceptions in the whole of Chennai, but most areas including Saligramam, would have yielded exceptional returns between 70s-80s and now.

                    And these phenomenal returns of the past is a major reason why people are interested in RE investments, even though they may not be replicated in future.

                    Comment


                    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      Originally posted by k11 View Post
                      Clair,
                      Good to hear Hira returned money with Interest in current environment.
                      Are you looking at apts in city as there are no alternatives to Seagull in suburbs.
                      K11: Yes, they did surprise by returning with interest! Currently my focus is on another deal I had been pursuing from last year and should sew it up mid-year. Moving back to city- depends on lot of variables and good resale opportunity. Places I like or new builds are either priced high or don't suffice immediate requirements.

                      SR: I believe you're referring to Skyscraper index. This jinx was attributed more towards business cycle and easy credit. Any Skyscrapper lifecycle will be almost a decade from conceptualisation, design, funding and construction, by which you will have your boom and bust on economic cycle- if you notice most of the SC are planned during boom, due to easy credit, then standstill during bear market and eventually job well done. Whether Empire State or Al-Jumeirah- they seem to do well now (may be Confucius Chinese are exception, I believe, when we look at HK, Shanghai or Singapore ) . IMHO it's more on individual sentiments than any jinx. Moreover 45 floors would be considered as mid-tier in most of the cities. FYI Bayview is 40 floors and progressing well.

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