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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

    Originally posted by Haojin View Post
    Also in the past he used to hate the word 'invest'- initial few posts, now change of position, he started liking 'investment' - diversified, not one area specific...

    Am always...am not a new investor. Though am not a super star investor like you who can discuss from toilet tiles to bedroom false ceiling & from Delhi to Chennai, I have existing investments all around Chennai much before I became a member of iref. I bash ppl when they try to boost the value or demolish the potential of a specific area or project. Will continue to do that..no offense pls...

    @L4L, Mav and Vijaysri, apologies for hijacking the thread even after your alarming posts, am provoked to do that. My sincere apologies to you all
    Last edited November 7 2014, 09:22 PM.

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    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      Originally posted by SRaj001 View Post
      Ok I think you have selective memory
      When I wrote about north chennai cth road and Avadi area then oragasam then perumattunallur your gripe was I was hyping all these areas
      What part of your diversification or user should not focus one area and bash others does this position stand opposite to ?
      I know the answer just asking to see what you are going to respond

      You have formed an impression that certain users are attached to certain locations and use that lens to see every post
      That's the core of the issue

      Am not, I don't wear any lens to pinpoint others..even in A previous bashing thread like this (amir nagar) I bashed ur opponent LL initially and later to change my stand when the witness shared a PM from you which was in support of your opponents(BTW they r silent now, after all those bashing)...IMO this forum is a mass media with at least a 50k visitors a day and need to be treated with due respect by not imposing our own views/ investment interests on others...I strongly believe this forum has potential to influence first time buyets ,latest example is a post in TV P&P project where a buyer canceled his booking- though he quoted personal reasons for the decision I strongly believe the recent bashings on that project in this forum could be one of the reasons (I accept that am also one among those bashers) so let's use this forum not to impose and market our own preferences and investment priorities, just to provide insight to ppl, if possible..

      Am extremely sorry and my sincere apologies to serious followers of Hira project under this thread, for diverting the discussions against of the main topic. Pls bear this Bro with your forgiveness....
      Last edited November 7 2014, 09:55 PM.

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      • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Sir did you check your inbox? I have PM'd you. Please check and revert me sir

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        • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

          Originally posted by SRaj001 View Post
          Afaik neither has invested in neither it was a spirited debate
          There was nothing personal about it
          A builder claims sea view it holds water because they are selling in that sales approach for past 5 years plus
          Slowdown now cannot be attributed to the sea view as false claim
          There a various other reasons such as maintenance charges Plc etc due to which a. Common middle class buyer will shy way from this project
          But sea view being a false claim is in the bottom of the list is the crux

          All this calling builder is looting he is bad is total nonsense
          All buyers to be buyers yet to be buyers cannot be buyers carry a SOCIALISTIC view

          As soon as you are a owner seller investor multi property owner you carry a CAPITALISTIC view

          How funny
          Yes... there was nothing personal in this debate...

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          • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

            Planning to purchase in Amalfi

            Hi All,

            I am new to this discussion and planning to buy flat in Hira egattur Amalfi project. Spoke to hira guys and got the quote which 5200 sqft and the options are for 1970 and 2325 apt size.

            The maintenance charges is expected to be around 5 to 6 rs per sqft as per their quote.

            Both 1970 and 2325 are three bedroom but 2325 have bigger rooms and an extra maid room.

            Just wanted your suggestion about this project as I am planning to use them for own purpose by 2019. I had gone through some of the interesting reviews but as a new buyer I am little puzzled with the price and maintenance cost of this project against buying ground in Thalambur, Chithalapakkam and building a house.

            I am sure these things would have gone through all of your minds, can you pls suggest..

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            • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

              Originally posted by muralidharan View Post
              Hi All,

              I am new to this discussion and planning to buy flat in Hira egattur Amalfi project. Spoke to hira guys and got the quote which 5200 sqft and the options are for 1970 and 2325 apt size.

              The maintenance charges is expected to be around 5 to 6 rs per sqft as per their quote.

              Both 1970 and 2325 are three bedroom but 2325 have bigger rooms and an extra maid room.

              Just wanted your suggestion about this project as I am planning to use them for own purpose by 2019. I had gone through some of the interesting reviews but as a new buyer I am little puzzled with the price and maintenance cost of this project against buying ground in Thalambur, Chithalapakkam and building a house.

              I am sure these things would have gone through all of your minds, can you pls suggest..
              The price reduction of Amalfi was introduced in beginning of the year with a scheme: if you choose 2325 sqft at 35 floor your base price will be reduced to 5200'psft and with discounts the overall cost of would be 1.6 cr as againt the regular price of 1.92 cr. I am not sure they had extended this offer to all the flats. Which floor you were offered, this would tell, if the offer is extended to all the flats in Amalfi.

              Assuming they had extended to all the flats in Amalfi ( you have to confirm) a guy who booked in the past at 35 floor to avail the price discount (but actually interested in lower or mid floor), what is his state? They did similar thing to Edina. At the time of booking they 4300 plus base price and took payment as per construction progress in few years, this year after increas of price inteoduced 25% pay now and 75% payment on possession, that is about after two years of completion expexted. Those who had booked in the initial stage having paid hefty %, having paid hefty amount, carrying interst cost, EMI, completion uncertainities, -have to wait along 25% paid latest booking buyers, which may look unfair for initial buyers.

              In Tiana after booking, i think price escalation clause (refer previous discussion quotes by other posters) as additional cost.

              I think Tiana spec was changed over ph1 towers, check it out for Amalfi.

              Other costs are huge on comparitive basis with other projects in OMR. Maintenance cost 5-6 as mentioned by you would be a regular huge outflow.

              Ask for usable carpet area, plinth area, comon area break up to mention in the contract clearly.Check did they mention Overall layout plan/amenities plan in the agreement. Vet their agreement with a lawyer and if possible insit for fair penalty for construction delays.

              However Hira is one of,the good project in terms of good living space, if you can bear with all the above/get a clarity in writing, you may book in under construction towers. Otherwise my suggestion would be you consider Hira RTM flat in Phase 1, where you can avoid all uncertainity, see the product for which you pay for.
              Last edited November 29 2014, 05:03 AM.

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              • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                Originally posted by muralidharan View Post
                Hi All,

                I am new to this discussion and planning to buy flat in Hira egattur Amalfi project. Spoke to hira guys and got the quote which 5200 sqft and the options are for 1970 and 2325 apt size.

                The maintenance charges is expected to be around 5 to 6 rs per sqft as per their quote.

                Both 1970 and 2325 are three bedroom but 2325 have bigger rooms and an extra maid room.

                Just wanted your suggestion about this project as I am planning to use them for own purpose by 2019. I had gone through some of the interesting reviews but as a new buyer I am little puzzled with the price and maintenance cost of this project against buying ground in Thalambur, Chithalapakkam and building a house.

                I am sure these things would have gone through all of your minds, can you pls suggest..
                5200 psqft appears attractive price for the project, but it needs to looked in the context of over all cost.

                I would try work out:
                1. Total cost psqft (inclusive of car park, floor raise, EB, extra charges, club membership, ST etc)
                2. Carpet area.
                3. Realistic maintenance cost estimate (not what is quoted by builder, check with established projects) once all flats are solds the maintenance could jump multi folds.

                Once you got all those info, then you would be in a better position to decide.

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                • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                  If you lock. Price of 160,00,000 for 2325 sqft, add approx 35 lacs for interest cost (assuming 80% payment within 2 years of booking, interst at 10% plus pre EMI interest at 10%, - even if full prpart own money opportunity cost at 10%), add 5 lac for cost eacalation to Hira, you possession cost in 2018 would be 2 cr. 2 cr/ 2325= 8600 psft will be your possession cost. Now ithe present sale base price of 5200 psft has to go up by 65% capital appreciation to make a worth property atleast in your portfolio. Even if you consider 1.60 cr/2325 = 6880 psft as present market price for Hira, it has to appreciate by over 25% on possession. Even when it is for end use, you have to ensure your possession cost is not less than market price at any given time would be better. Now evaluate by yourself is it worth buying now, carrying the cost, uncertainities, risk and then to have the possession 2018 or later ot buy a RTM unit when you want to occupy.

                  For everry 1 year of delay you have to add additonal 15 lacs interest cost to your possession cost.

                  Am i miss any other point in the above factoring, please correct me if any valid point is missed.

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                  • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                    Originally posted by Haojin
                    Assuming they had extended to all the flats in Amalfi ( you have to confirm) a guy who booked in the past at 35 floor to avail the price discount (but actually interested in lower or mid floor), what is his state? They did similar thing to Edina. At the time of booking they 4300 plus base price and took payment as per construction progress in few years, this year after increas of price inteoduced 25% pay now and 75% payment on possession, that is about after two years of completion expexted.
                    I am surprised that even a routine price adjustment/revision of terms as dictated by market conditions as the years pass by, is being cited as a Hira specific issue !.

                    For instance, lets say someone booked in 2012 for Rs 4300 base and market was bad and Hira enticed it with 25:75 scheme then. Assuming markets turned hot in 2014 and if Hira eliminates the 25:75 and comes up with less favorable payment terms and sets the base price as Rs 5200, what happens to those who booked in 2012?
                    Last edited November 29 2014, 11:49 AM.

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                    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      Practice of Hira in Edina is against the regular trend. Launch price at lower level, as the construction progress increase, towards RTM hike in price is the trend. Builders factor in all uncertainities in price inclusing slow sales, left over inventory until RTM etc. On this huge pricing of Hira all might have been factored in. So being unfavorable to initial biyers is not fair. I am not sure was there any past such cases.

                      On the other hand L&T and DLF, when they reduced price due ro market constions, they have given redrospect effect to existing customers in the same OMR for the same market slow down. Why not Hira play a balance roll?

                      My net point in the earlier post is with the existing unfavorable case/track record for initial buyers of Edina, why take on the uncertainity for Amalfi and land up in similar situation after 4 years. Instead if urgent for occupancy, can buy RTN units of ph1 or wait for 2017-2018 until Amalfi progress and better payment scheme emerge or even if the market improve, buy a RTM unit in the same tower if desired. In this market, specifically in this huge layout, not worth carrying uncertinities, risk, carrying Interst cost, completion delY worries etc.
                      Last edited November 29 2014, 01:35 PM.

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