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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

    Please correct me if my following statement about EWS is wrong.

    EWS units does not need to be in the same location as the rest of the complex. They can be upto 5km away.

    If this is true, then builders can always build a separate mini-township of 1-bhks with different specs and amenities. Cut out pool and other expensive to maintain items. Avoid skyscrapers and build s+4 buildings, which cuts down on costs. They can also meet Govt requirements on size, construct 350-400sqft carpet units.
    They can allot a few units to Seagull or other high end apartment owners for their folks to stay. Allotting a 30L apt to someone buying 5+ crores is not a big hit.
    Put 20-25% loading, sell it at market rates at 30L+ a pop.
    Let NRIs buy it and rent it/stay or do whoever they want.

    I do not lean towards service apts. But I am sure rest of residents wont complain as they will carry a hefty maintainance charge and will cater to a specific set of investors and tenants.

    All I am saying is that builder, big ones like Hira have a lot of options.
    So we need not speculate the worst.
    Last edited February 26 2013, 10:51 PM.

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    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      The EWS regulation says

      "In cases where the extent of the site where residential or predominantly residential
      developments proposed exceeds 10000 sq.m. (1 hectare), the developer shall reserve
      minimum ten per cent of the site area (excluding roads if any handed over to local
      body) and provide housing thereon for lower income groups with dwelling units not
      exceeding 45 sq.metres in floor area each, either within the site proposed for special
      building development or in a location within a radius of 2 k.m. from the site under
      reference. The developer or promoter or owner shall sell these small dwellings only
      for this purpose. No conversion or amalgamation shall be permissible in these cases
      of lower income group dwellings."

      So, It is not mandatory the EWS/LIG flats be in the same gated community. The stipulation is only for the size, not for the price or specification.How useful is a Studio/1BHK to people belonging to EWS, priced at 6000/sqft? The flats will be bought by the same higher income class as a second home for housing their old-age parents, maids, drivers and use it like an out-house. It will be first choice of Investors. The builder may not even sell these flats and use it as service apartment and hotel. It defeats the purpose of the EWS rule.

      I am already hearing builders are getting together and considering buying cheap land within 2 kms radius near their premium projects and build houses of cheaper quality like the one you see in kannagi nagar and semmenachery to satisy the EWS regulation and get completion certificate.

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      • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Thought of posting some Hira Upscale photos I found online
        Last edited March 13 2013, 11:49 AM.

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        • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

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                    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      Cross posting K11 comment from oter forum


                      Reflection Apts start at 2.5-3C onwards. So regular Hira is not a comparison at all. Totally different segments. Huge price difference.

                      Reflections is a better speced out project then regular Hira. On par or even slightly better than Seagull, sea view will be awesome as it is much closer and Olympia will block out 750ft of property on other side so that the apt owners will have a good view from lower floors itself. The township will have much lower density with more green spaces around. They will also put a hotel and restraunt up front.

                      Though Reflections>>Upscale, but ECR<<<<<OMR.

                      ECR properties have not appreicated a lot, future growth is also limited. People buy here as second homes for end use. There no big developments in ECR (office spaces), though social infra is improving. For first homes, do not go beyond Neelankarai.

                      Reflections will be a perfect second home.

                      OMR has everything going for it. IT companies are big driver. Prices in OMR will continue to rise.

                      Olympia has other properties on OMR which would be better investment or end use.

                      Olympia Panache in Navalur is the best Villa project in OMR, no other project even comes close.
                      For Apts - Hira Seagull, Olympia Sky Villa and Akshaya Abov.

                      Abov is the best project on paper but price is high around 6C. So probably will compete with big units in Seagull.

                      Under 4C budget, Seagull and Sky Villas are good.
                      Sky Villa is a small building, less than 20 units I think. So tough to get a higher floor in resale. But it is undervalued and there is good opportunity to get a good deal here.
                      Seagull is the perennial favorite. 3C should be enough to get a 4-BHK here.

                      You cannot go wrong with any of these three apt projects. There might not be any other luxury township outside of this. Hira has two more buildings in seafront. Marinas and Octavius I think. My bet is they will be signature line similar to Seagull.

                      IREO will have fully equipped golf villas inside the Japanese Township whenever it happens. But prices will be above 10C. So totally different segment.

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