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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

    You have blabbered enough without knowing what is PVC and its implicated clauses attached with strings in one's agreement .

    You just imagined and vomited all your IGNORANCES arrogantly without any proof.

    I just educated you what it is . If you still require what those clauses are and howit is beneficial to both buyers and sellers , do not hesitate to ask

    If your ego still blocks it and seek other members posts for your protection, I pity you

    I practiced as Head Purchase in several corporates with PVC by fully knowing the implications of it

    You are a Kid before me and try to blabber perfectly henceforth . May be you can sound loud in dead PBV forum so that invested members can get benefitted


    Originally posted by rganeshin View Post
    enough blabbering has happened from your end on pvc..I might not have the clause..but sure know at whom its targetted.

    I am not convinced and its my opinion..u need not take it.


    [QUOqTE=REC2013;1095317]Index is being followed in such PVC. If you do not know what it is , ask from others. Do not blabber without info I smy advice as many forum members will get confused.

    Do you have PVC clauses which they have coined with inbuilt conditions and cushions .

    No. But I have

    PVC is beneficial in fluctuating environment for both buyers and sellers
    [/QUOTE]

    Comment


    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      On a lighter note.. "Head Purchase" .... pretty sure your next position is "Hira - Head Marketing"...

      Comment


      • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Alright, looks like my update on the PVC clause has caused on heck of load on this forum thread. Just so that we are all clear, the PVC clause does not benefit the Buyer at all. Agreed that the PVC clause is tied to the Index - but it favors only the builder, which means it takes only the rise in index scenario. There is no mention about what happens when the index falls. A quick summary of the clause is below.

        ESCALATION CLAUSE:
        They have mentioned that they will charge escalation for the materials and labor. They have shown a formula based on the Whole sale Price Index published by the Govt. and take as a percentage for steel/cement/bricks/sand and labor and will take a weighted average. By this they will find the cost % increase every quarter. The first 5% increase will be absorbed by the developer. The construction cost for this calculation will be taken as Rs.1500/- per sq.ft out of the total sq.ft cost quoted by them.
        They have shown a model calculation.
        If we assume the cost increase over the 52 months as 20%-- additional cost will be Rs.6,97.500/-
        30% Rs.10,46,250/-
        50% Rs.17,43,750/-
        100% Rs.34,87,500/-
        They have not mentioned what will happen if they delay the project and cost escalates after the projected Delivery date.


        Also, a general note. Agreed this is an open forum, for the benefit of all followers, lets try and stay on topic here. In my opinion, anyone signing up for a project in Hira and agreeing to a gestation of 4-5 years is most likely looking to use the unit for end use purposes, is looking to self fund a good percentage and has a relatively deep pocket and high risk appetite. Lets not argue about one's self worth and wealth. It is irrelevant to the followers. Lets evaluate topics and discussions in an unbiased manner respecting each one another. We all have one thing in common - which is all of us have either invested in the property or are going to!

        Cheers!

        Comment


        • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

          Originally posted by SRaj001
          This happened with Brigade alapakkam project , i had put in 5L and got my money back no interest but in 2-3 months of investing after the project got put on hold
          ......
          .....
          If you get 20-30% down payment then you are registering serious interest and if you do that on a 3C property, you are way over serious.
          Again..you are digressing...the discussion is not about quantum of money involved or for whom which quantum is a serious money and when one's interest get serious is not the point of contention at all. You claimed people are only looking at the "pure" business side of Hira and I countered. I said it is a level-playing field till agreement where both parties are taking risks being fully aware of the fact that there is no agreement in place and both can walk away - that is the crux of the argument. One cannot cry foul simply because it did not go in their favor.

          Originally posted by SRaj001
          In the example you have given, i have fully absorbed the risk, paid the price, fully got a product registered in my name and have a patta on me. Risk is on me and product is on my name.

          The case is quite different with seagull, you have nothing on your name and yet chose to put 30% of the project cost from own pocket. -- No bank loans as banks wont loan you without any agreement.

          ....
          .....
          You did not get my point. I was highlighting the risks the buyer was taking on its own volition in return for something in both cases. In both cases, buyer took the risk of the "attractive" price or other reasons despite knowing the risks involved at the time of entering.

          It is not about ownership transfer or getting a patta. Much less about bank loans. Just simply the risks in getting "involved" in such transactions.

          Entering in to an "arrangement" by putting down 20-30% is the risk in Hira. Ownership of CRZ/Panchayat approved land is the other risk for comparison that stays for much longer. In fact, you assume the real risk(what I was highlighting) in latter only after the transfer the ownership for 100% consideration. Full registration and patta transfer has got nothing do with the risk I am highlighting. I think you are confusing the risk of consummation of the transaction and that's not my point. Do you think the risk of owning a CRZ land/panchayat approved plots go away after the registration/patta in one's name? Even the previous owner had all of that.
          Last edited February 25 2014, 06:26 AM.

          Comment


          • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

            Originally posted by vivcraze View Post
            Alright, looks like my update on the PVC clause has caused on heck of load on this forum thread. Just so that we are all clear, the PVC clause does not benefit the Buyer at all. Agreed that the PVC clause is tied to the Index - but it favors only the builder, which means it takes only the rise in index scenario. There is no mention about what happens when the index falls. A quick summary of the clause is below.

            ESCALATION CLAUSE:
            They have mentioned that they will charge escalation for the materials and labor. They have shown a formula based on the Whole sale Price Index published by the Govt. and take as a percentage for steel/cement/bricks/sand and labor and will take a weighted average. By this they will find the cost % increase every quarter. The first 5% increase will be absorbed by the developer. The construction cost for this calculation will be taken as Rs.1500/- per sq.ft out of the total sq.ft cost quoted by them.
            They have shown a model calculation.
            If we assume the cost increase over the 52 months as 20%-- additional cost will be Rs.6,97.500/-
            30% Rs.10,46,250/-
            50% Rs.17,43,750/-
            100% Rs.34,87,500/-
            They have not mentioned what will happen if they delay the project and cost escalates after the projected Delivery date.

            Cheers!
            Hira priced the tower at lesser price and indirectly charging the customers. It's day light robbery. When they are so specific on charging the escalation cost to the buyer, do they offer any compensation for the delay? If so is it benchmarked on long term loan rates published by RBI/SBI?

            Do they mark delivery of general amenities with date of completion and for any delay any benchmark index for compensation, say example if club house is not completed on time, residence have to travel to Olympia or ITC facilities, such club house using fee, travel cost (again fuel has to be benchmarked to Petroleum price index!!), time cost!!

            Marking the escalation to Whole sale price index published by Govt is show off as if they are saints. In TN the construction RM price fluctuate even on account of political factors (sand, cement..). Hira must be having long term purchase contracts without escalation clause with big producers.

            Reduced base price to push sales and indirect billing later. Well laid trap.

            Now in addition to keeping the finger crossed on completion of the project, buyers have to watch the whole sale price index movement too!!

            Going by the few latest posts, it gives opinion to sideline watchers, those who had already booked showing their frustration with Hira by throwing dirt on other forum members.
            Last edited February 25 2014, 08:46 AM.

            Comment


            • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

              Escalation clause thing is new. I have never heard about this. Maybe it is some idea that a brilliant insider tried to put.
              I think you can back out if there is such clause. Is this in the building agreement that gets registered or is this in the documentation before the agreement stage.
              Once the agreement is done, builder cannot ask for more money. Lawyers from builders know this as well.
              Before agreement there is risk, floorplans can change, project can get delayed becasue of approvals, building can itself get cancelled.

              Coming back to the pre-agreement bet, both builder and buyer are taking equal risk.
              If buyer backs out it is risky for builder. If builder backs out then the he has to eat the interest loss.
              I think it is a fair game.

              DLF CC project launched in 2010 at 8K, now at 22K+, they have not asked anything in extra.
              Hira Powai lauched in 2004/5 at 3000rs, by handover in 2009 it was 12K, now 30K not a penny extra was asked.
              DLF Aralias launched in 2004 at 1800rs, by handover in 2010 it became 15K, now 35K. Again not a penny asked.

              Lakhs of people buy flats on staggered payment with a small downpayment from such big builders.
              Builders made money, investors made money.

              Comment


              • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                blabbering , drum beating and justification of pvc by builder to make it sound proper is not going to give fruitful results.
                many can understand who is arrogant ...or u must have skipped reading few people reaction to ur posts...
                wat u r doing is not imparting education but straight forward marketing....may be u shud stick to speaking about double wall,concepts only.
                pvc puts buyer on the backfoot and its my opinion u need not take it.

                Originally posted by REC2013 View Post
                You have blabbered enough without knowing what is PVC and its implicated clauses attached with strings in one's agreement .

                You just imagined and vomited all your IGNORANCES arrogantly without any proof.

                I just educated you what it is . If you still require what those clauses are and howit is beneficial to both buyers and sellers , do not hesitate to ask

                If your ego still blocks it and seek other members posts for your protection, I pity you

                I practiced as Head Purchase in several corporates with PVC by fully knowing the implications of it

                You are a Kid before me and try to blabber perfectly henceforth . May be you can sound loud in dead PBV forum so that invested members can get benefitted

                Last edited March 4 2014, 05:36 AM.

                Comment


                • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                  Originally posted by rganeshin View Post
                  blabbering , drum beating and justification of pvc by builder to make it sound proper is not going to give fruitful results.
                  many can understand who is arrogant ...or u must have skipped reading few people reaction to ur posts...
                  wat u r doing is not imparting education but straight forward marketing....may be u shud stick to speaking about double wall,concepts only.
                  pvc puts buyer on the backfoot and its my opinion u need not take it.

                  =================

                  QUOTE=john1111;1095357]Mr.Illiterate who told you that I live in Thalmbur. Read properly. I live in Adayar, have property in many places. But it doesn't matter where I live to participate in a forum.

                  What matters is your stupid, rude approach against other forum members which needs to be condemned. It doesn't matter whether you worked as purchase head or road side idly viyabari, learn how to treat other forum members. Don't beg for respect by telling what your profession is. People will respect you even without asking if you treat others properly. You worked or working as a purchase head, but I own industry in mumbai and chennai. But it doesn't matter to other forumers or which don't give me a ticket to belittle others. Learn manners.
                  A perfect hit(s) on the nail. If one wish to market this project may open a separate thread if forum rule permits. Bashing other members diverts the topic of discussion.
                  Last edited March 4 2014, 05:37 AM.

                  Comment


                  • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                    PVC = Great Incentive for the Builder in delaying the project and milking the customer!!!! At the end, I am sure most of the customers who had booked would bail out after funding the project for 5-6 years, while builder would resell these units by charging both buyer and seller Rs 500-1000 psqft both sides.....To me a great business model, I have never come across!!! I have only worked in an industry that gives bonus for completing ahead of time and penalise for delays!!!

                    I see there is tendency of online bullying, hope members are not intimidated by it and please do respond back appropriately.

                    Comment


                    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      John . When You can not control your own watchman you say that you run Industry in Mumbai and Chennai . Watchman appears to be rude according to your one of the post. As an owner you are not able to control him bu in this anonymous forum, you are spreading words too speedily . Show you power to watchman first in Adyar and try to live without fear .

                      I too have 2 flats in Adyar and watchmans are in better control . Do you want any advice further so that I can help you how to control the rude watchman .but if your watchman says that you are Rude, then something is wrong with you .

                      Rganeshin

                      I never asked anyone to buy flats here. It is me who sounded the PVC clause introduced by Hira to make the forum members aware of the implications when it goes against original price.

                      There were situations we faced price reduction in 2009 when PVC clauses introduced in purchase contracts which favored buyers . On this context, it was brought in .

                      PVC is dead against buyers unless Prices are stabilized and reduced is th essence of message and if it gets reduced , it is favoring buyers.

                      So buyers worrying about this clause must definitely stay away .

                      Am I marketing ? No. You are all trying to market your ideas here without any basis . I am purely an investor in this Project which many members are aware like how we know who are all bashing this Project and who are neutrally expressing views

                      Read the posts carefully . How you came here is known to me when I posted in PBV sometime back .

                      Your advice to me is unwarranted as to what and how post in this forum.


                      Originally posted by rganeshin View Post
                      blabbering , drum beating and justification of pvc by builder to make it sound proper is not going to give fruitful results.
                      many can understand who is arrogant ...or u must have skipped reading few people reaction to ur posts...
                      wat u r doing is not imparting education but straight forward marketing....may be u shud stick to speaking about double wall,concepts only.
                      pvc puts buyer on the backfoot and its my opinion u need not take it.
                      [/QUOTE]
                      Last edited March 2 2014, 10:04 AM.

                      Comment

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