No exclusive thread for Hiranandani Upscale OMR project. Thought of creating one so that we can follow the developments, Rental yields, Issues and other topics.

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  • For renters, so much option available in this belt that can choose which ever that suits to their requirement.

    for the end use guys, each tower amenities will be maintained by the tower association. as start up HIRA collected 18 month maintenance charges upfront. End use members how they pay high maintenance is a different ball game all together


    Originally Posted by cruise_1982
    I don't know if the maintenance cost of 6-12/sq.ft is true, but if we consider it true (hypothetically), for a 2000 Sq.ft apartment one has to pay Rs.12000-24000/months for maintenance, and this would definitely affect Middle class (many have bought during the launch) and upper middle class buyers. There are many people who have liquidated most of their investments and then bought an Apartment in Hira for its sheer aspirational value, thinking that it just a one premium they are paying for a lifetime living. Many of these people will be paying an EMI of 40-80K per month and 12-24 K over that EMI is definitely going to be a stretch for them. For business owners and self-employed HNIs it wouldn't make much of a difference, but for salried class it is going to pinch.
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  • Originally Posted by navink
    @ramchi

    As one member pointed out in previous weeks, maintainence doesn't really effect hira owner pockets if they can afford to pay 9 lakhs for car park and over 1.2 crores or more for an apartment. Rs 6- Rs 12 is just a minimal figure. This rate could easily jump to 20 Rs / sq feet. It's high for general public but not for hira residents. It may however impact rentals but if its for end use, then no worries.


    For a guy paying Rs 10 Crore (Seagull types) or so ...Rs 6-12 psqft per month maintenance may not hit or if this is rented out to corporate lease or so...but rest of the people I am not sure.

    I am not sure how much people are paying in Pawai etc...
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  • Most people who bought Apts in Hira are HNIs and NRIs.

    For NRIs - In Europe & US, maintainance costs 25K-50K for a 2-3 BHK, this is kind of minimum in skyscrapers. Luxury towers costs way more.
    So a 6-12rs is not a big deal.

    Again even it this gets rented, lower middle class people will not rent here. They will choose XYZ apts nearby. So lets not worry about them.
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  • First Chennai is not US or Europe by any stretch of imagination to compare maintenance cost. I have lived in Jersy City (stone throw away from Holland Tunnel) and even including rent it was $1500. May be Manhattan premium may be demanding such maintenance but are we kidding ourselves here by comparing them with this? Hope not.
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  • Originally Posted by Ramchi
    First Chennai is not US or Europe by any stretch of imagination to compare maintenance cost. I have lived in Jersy City (stone throw away from Holland Tunnel) and even including rent it was $1500. May be Manhattan premium may be demanding such maintenance but are we kidding ourselves here by comparing them with this? Hope not.


    Jersey City, $1500 is not a skyscraper for sure.

    It is more like old dilapidated building in a bad location.
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  • Originally Posted by k11
    Jersey City, $1500 is not a skyscraper for sure.

    It is more like old dilapidated building in a bad location.


    Upper East side - 65 the street / 1 bedroom apart - 2500 / month yes crappy hole but Manhattan -
    no comparison to OMR - FYI
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  • you are right,

    Now the SS around that area crossed 2.5 KPM (2bhk) + maintenance + Car Parking charges around 250 $

    Originally Posted by k11
    Jersey City, $1500 is not a skyscraper for sure.

    It is more like old dilapidated building in a bad location.
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  • I just wanted to illustrate purchasing power of NRIs.

    Buildings some times have minimum maintenance charges.
    Upkeep, watchmen, power back up, swimming pool, etc.
    It will cost similar amount whether in city or suburb.
    In Chennai, you do not pay watchmen 2000 in OMR and 7000 in city. Costs are very similar. OMR of course will have additional costs.

    Purchasing in suburb is cheap but living cost is high. Well you cannot get everything.

    So people who cannot afford should not buy in township. I know some folks could have bought in Hira earlier. But they would have made some money in capital gains. 3.5K to 6.5K now. They can still sell and get out with a very good profit.
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  • Maint is 2.5 per sqft and collected for next 18 months and it is for the respective Tower to levy according to the needs after 18 months.

    I am not able to digest why it is discussed in other projects AGM.

    Someone is sarcastically asking the age profile which is very much available in profile whereas his details are not known over there . But despite giving such details in elaborate way, they are still evading without even telling what their age is.

    If at all they inform, it will be blatant lie only as I know where from these kids are coming and blabbering here as I already ditched out all the posts and undestood as usual . A fellow or kid searching 20-30 lacs plot is offering money to buy property for good ROI

    God bless these Kids until they grow and become matured .
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  • Well said. It is indecent to ask such details in this anonymous forum but keeping quiet after getting all info is too indecent. Even Age is not disclosed in profile .

    Anybody can write anything ...what is the use unless such posts are usefull for some one and useless for one.

    Ignore if not interesting or counter if it is wrong .


    Originally Posted by Ramchi
    I do not believe in asking personal details of fellow members in the open forum. Even if someone discloses this, we need not go by that and it is not even recommanded to disclose such details here.

    It is totally unrelated to the subject under discussion.

    Everyone knows the intentions of certain members when they support or oppose certain projects like this. Buyers must be made aware of facts and opinions may vary to person to person.

    I have watched this building last weekend but I am not sure any one living inside apart from very few. I was told maintenance in HIRA varies between Rs 6-Rs 12 - this was discussed in the AGM of our community last weekend (when members of our association asking for the maintenance amount of surrounding buildings)....I am not sure if this is the case.
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  • I personally interacted with several owners. Even if it is 100 per sqft as per their needs and comforts, they are ready sorry willing to throw is the scenario.

    It depends how each tower owners expect the way it should be maintained and at what comforts rather than Costs.

    Originally Posted by Ramchi
    For a guy paying Rs 10 Crore (Seagull types) or so ...Rs 6-12 psqft per month maintenance may not hit or if this is rented out to corporate lease or so...but rest of the people I am not sure.

    I am not sure how much people are paying in Pawai etc...
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  • Ravi, as an end user, i will be ready to spend even 10 rs/sqft as maintenance charge becoz I know what to expect. But as an tenant, will they be ready to spend remains the question which I hope we will know the answer in the near future.if a tower has 25% end users & 75% tenants, do you reakon everyone will think on similar lines w.r.t amount to be spent on maintenance.
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  • Originally Posted by sundarjp
    Ravi, as an end user, i will be ready to spend even 10 rs/sqft as maintenance charge becoz I know what to expect. But as an tenant, will they be ready to spend remains the question which I hope we will know the answer in the near future.if a tower has 25% end users & 75% tenants, do you reakon everyone will think on similar lines w.r.t amount to be spent on maintenance.


    No matter how rich you are in india when it comes to this, the tenant would want a part covered by land lord if not his company to reimburse for the expenses,under health club, gym etc
    I cannot see a tenant even in a 4-5 lakh a month salary range to be willing to spend 20K as maintenance fee
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  • Sundar

    Plenty of options for the renter in that area. If Hira not suits to your need just check for other apartments near by. simple as such ...

    Originally Posted by sundarjp
    Ravi, as an end user, i will be ready to spend even 10 rs/sqft as maintenance charge becoz I know what to expect. But as an tenant, will they be ready to spend remains the question which I hope we will know the answer in the near future.if a tower has 25% end users & 75% tenants, do you reakon everyone will think on similar lines w.r.t amount to be spent on maintenance.
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  • Sr,

    Are you planning to put your money in Hira/Luxury apartment ?

    Originally Posted by SRajagopalan
    No matter how rich you are in india when it comes to this, the tenant would want a part covered by land lord if not his company to reimburse for the expenses,under health club, gym etc
    I cannot see a tenant even in a 4-5 lakh a month salary range to be willing to spend 20K as maintenance fee
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