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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

    Hira do need brickbats for lot of their strategy, but managed well on Seagull fiasco. To clarify- Seagull were opened for bookings (floors above 20) from Jan,2013 last year. No sale agreement were signed till date (exc. allotment letter), so what the builder paid for their goof-up was voluntary not due to an agreement. So let's give some credit where's it due. Moreover the project had been delayed, not dropped. They will re-launch with hefty price tag when there's business logic. Their market research might have gone awry after Oceanic (112 flats) demand. Even I did raise my doubts here on buyer segment for duplexes- starts at 6-10 Cr and sizes between 6000 to 8000 sq ft, which is an uncharted territory in Chennai

    I do not believe Hira may do it for another tower , as most were existing investors in Hira or HNI's, no wonder they didn't want to take them head-on , when 2 or more phases are due. On opportunity cost- not much from personal PoV as we had R2I'ed partially last year.

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    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      Mav: The idea to share our experiences on either front- is just to reach wider audience on ground reality. When there's so much of cynicism (few here confuse(s) and profuse their opinions as facts), cue to share, I hope benefits end users. End of the day you can be a tax payer and RE investor, which is beyond logic for some. (Another thread worth reading gentleman's S class experience in team BHP Oh Lord, won't you buy me a Mercedes Benz - W221 S350 initial ownership review - Team-BHP)

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      • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Originally posted by Clairvoyant
        Mav: The idea to share our experiences on either front- is just to reach wider audience on ground reality. When there's so much of cynicism (few here confuse(s) and profuse their opinions as facts), cue to share, I hope benefits end users.
        Agree 100% as long as facts are shared on either front. I was sharing my opinion against inferences from those facts, which are misleading and has no basis or relevance in this specific case. Few of the inferences I see no basis for:

        1. Skyscraper Jinx and its correlation to HUS
        2. Branding the dropping of Seagull as a Hira/HUS failure as a whole
        3. For the stature/brand/position of Hira, they should have read the market right and avoided this Seagull in the first place.

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        • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

          Originally posted by maverick007 View Post
          Agree 100% as long as facts are shared on either front. I was sharing my opinion against inferences from those facts, which are misleading and has no basis or relevance in this specific case. Few of the inferences I see no basis for:

          1. Skyscraper Jinx and its correlation to HUS
          2. Branding the dropping of Seagull as a Hira/HUS failure as a whole
          3. For the stature/brand/position of Hira, they should have read the market right and avoided this Seagull in the first place.
          I will take on the first 2 head on - no problem - i was missing past few days not because im dry of facts but due to personal emergencies

          1 - Skyscraper Jinx

          Its a Jinx as its correctly termed , there is no hard economic numbers attached to it, because historically and for Hira as well the contributing factors at a numbers level is almost impossible to derive ( for example how much dropping of Seagull had an impact to Hira's financials both positively or negatively for the financial year - is purely one's speculation - you and i can wildly speculate as there is no real numbers to attach to it)
          But the fact remains intact, historically and now, when large brands ( large is subjective to the area/locale/geography concerned) try to embark on the largest/ tallest endeavors they fail to accomplish that goal more times than they succeed. I dont need to requote the examples, the evidences are very clear and evident.
          The variation in viewpoints is we mix the viewing Hira as a RE customer vs Investor evaluating if their business decision is right / wrong.
          I have nothing to doubt that their decision from a business angle is completely right, but if im a Hira customer who was led to believe that this is their STAR project in chennai, most widely advertised and called top notch and i waited for 2 years to be let known that the project is dropped in the mean time when i dropped or missed or failed to capitalize on other options in the market , i construe and conclude that Hira from a brand standpoint has let me down. Now its not unusual for any other builder to do exactly the same thing as you rightly pointed and the buyer needs to manage the risk, in which case we squarely arrive at the conclusion - Hira is no special than others and is like every other builder
          Also to clair's point of Hira did not drop Seagull but delayed to re-start the project at a later date at a higher price point when it makes business sense for them and a customer can choose to get back into the project at a higher price point while i was with you for 2 years waiting for this answer is pure exhibition of ARROGANCE not Customer Obsession.
          So lets not mix both

          2. Branding the dropping of Seagull as a Hira/HUS failure as a whole

          The Second comment i made is not calling HIRA as a failure as a whole - so here you are putting words into my mouth
          I called even the mighty like Hira can fail in a project like Seagull , my comments were always localized to Seagull which was the topic of conversation.
          If you promote that as your flagship project in the GC and decide to drop / delay to relaunch at a later price point, IMHO i still will call it a let-down.
          You can see it as an investor, market reviewer, how hira operates as business but it does not matter - if you are a customer who waited 2 years at this HIGH price point and lost opportunity in the market the perspective will be spot on with mine. Unfortunately we dont have many in this forum only clair is here and his personal situation seems to be just ok with the refund with interest.
          This again puts the same conclusion - HIRA is again no different than a brand builder in that category, please don't call them customer obsessed, i call Amazon customer obsessed, not this type of behavior.

          If we have to apply the theory of relativity, i agree hira may be better of than other builders in chennai market but i dont have comprehensive evidence for that with research.

          3. For the stature/brand/position of Hira, they should have read the market right and avoided this Seagull in the first place.

          I dont believe this is my position - as i really feel no one can predict the market, but businesses should be run with good management to adapt to the market conditions, Hira just did that , they did what is absolutely best for their company - my point has been and always will be it probably was not the best for the customers.
          Last edited February 23 2014, 10:48 PM.

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          • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

            Originally posted by Clairvoyant View Post

            I do not believe Hira may do it for another tower , as most were existing investors in Hira or HNI's, no wonder they didn't want to take them head-on , when 2 or more phases are due. On opportunity cost- not much from personal PoV as we had R2I'ed partially last year.
            Clair -
            I would like to understand this comment a little better - so are you a suggesting that hira would do it on a tower with first time buyers booking vs the usual sowcarpet gang who comes and buys the units in blocks as soon as they are launched pouring money to make a quick buck ?

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            • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

              Originally posted by Clairvoyant View Post
              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.
              Clair - One last question
              If hira were to offer you an option of buying a different unit in bayview or any other tower not close to what you booked but some what close given the options you have on table will you consider to go back and book a different unit in Hira amongst available options ?

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              • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                Rganeshin....




                PVC is not Plastic .

                PVC favours both builders and buyer like this ...

                1. If Prices of RM are constant , Buyers are Safe with Constant Price

                2. If Prices of RM is hiked to 10% , still buyers are safe as Builders absorb such costs

                3. If Prices of RM increases by 20-25% in this inflationary environment for the long gestation project , Buyers need to be prepared for such hike over an above 10%

                4. If Prices are reduced by 20-25 % , buyers will get benefitted to the tune of such level

                Many plastic papers flow and spoil here without understanding the PVC and its implications

                Occupancy rate is bothersome one to Hotel Industry and not builders . Builders job is to handover the flat and it is for the buyers to make it occupied or occupy . Do not preach

                Do not teach your father to .... is famous proverb and better concentrate in closed PBV in deep interior Iyyapathangal for ones paltry investment of 60 lacs






                Originally posted by rganeshin View Post
                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.
                Last edited February 24 2014, 10:54 PM. Reason: Offensive content deleted

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                • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                  Edina is completed with 31 floors as on date , Bayview progressing with 40 floors, Amalfi with 36 and Tiana with 33 .

                  Space alloted to Seagul facing Bay of Bengal is still VACANT .

                  What comes up over there wth what offerings for targetted customers remains to be seen by propsective investors and end users than speculated Outsiders who are not comfortable with *** Hiras hefty Pricing, long lead time , PVC etc ***

                  I too do not like the *** points mentioned above *** but chose to select RTM flats due to personal experience in the past .

                  P.S : I always say that RTM or close to get completed flats are better options and Prelaunch, UNDER CONSTRUCTION is last priority

                  2 years back, Brigade launched and collected 4- 5 lacs in Accord Hotel and we recovered back last month interest .

                  Nothing is concrete in RE, unless Concrete is poured in and casted and covered up for the handing over with Spec .

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                  • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                    Originally posted by REC2013 View Post
                    Rganeshin....

                    Do not teach your father to .... is famous proverb and better concentrate in closed PBV in deep interior Iyyapathangal for ones paltry investment of 60 lacs
                    What is your problem. You always sounds very rude, belittle others. Don't forget you made investments in Hira, cries and attacks all over the day in the forums to depend in your paltry investment in a far off jungle called egattur. You will degrade yourself to even lower levels and attack others to depend your stupid investment. If you are not tolerant to others views don't come to forum, boy. Don't be rude. people are not being rude to you even though you are very rude at others all these years, because they are civilized. Not because they don't know how to return the bad mouthing.
                    Last edited February 24 2014, 12:01 AM.

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                    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      I dont think anyone would buy the arguement put fwd by some of the members that 'Seagull was dropped because Hira dint had the bookings as expected'. If the same rule is applied, i dont think there will be any super-luxury project launch in chennai. It will be of benefit to other forum members if someone can clarify that how much (%) does a builder would expect to get booked even before starting the foundation on a super-luxury project? With my little exp in RE, i think it is normally very low. Booking on exclusive/luxury GCs normally goes on till the time it is 100% complete and it is quite normal for units to be unsold even after completion. Price tag on this segment cater to specific clientèle (usually not the working salary class who depend on bank loans for funding).
                      Bookings on this segment normally pick-up once good progress is made on the ground irrespective of the reputation of the builder because of the huge capital investment involved.
                      Hira having good experience on this segment is very much aware of the rules of the game and to me, this was done on purpose in the expectation that once phase 1 & 2 are complete with all amenities, they can launch seagull, marina and octivius as a super-premium offering with higher price tag.
                      Last edited February 24 2014, 01:42 AM.

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