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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

    Yes, transfer fee is not applicable in ready to move apts.

    I am also confused why L4L has raised the transfer fee topic.

    Once the builder payments are done, apt is handed over, the buyer has outright ownership. The builder does not get involved at all.

    Builder transfer fee is applicable in early life of the project when very less payment has gone and the tripatriate agreement is needed for the new buyer to make payments to builder on the terms negotiated by old buyer.

    All of this could be negotiable and is not an issue generally when 50+% of payments is gone.
    Documentation fee is not negotiable and could be around 25K incremental but it is a small amount of money anyway.

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    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      It was based on following information I read:

      Big Builders’ Transfer Fee is Unlawful Extortion - Krish's blog

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      • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Thats a unrealted blog post.

        In Chennai, you have UDS you can sell it to anyone. No need to get persmission from anyone.

        In Mumbai, all the UDS land is owned by assocaition and you are the member of it.
        Transfer of membership befrore the assc forms is the issue here.

        There is no need to link it and confuse the people here.

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        • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

          If they are charging Rs500 psqft for Issuing NOC (After sale is registered and flat handed over) in Chennai it is not fair.

          TN investors will reject such developer if disclosed in contract.

          This is not on.
          Last edited June 20 2013, 01:16 PM.

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          • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

            Birds are not dropped because they were never captured ,in fact. Instead of Caught & Bowled , we can term it as Caught & Dropped .

            Rent,Transfer fee,EWS,etc are being used time and again to increase number of posts without any facts and figures or else how once can post 300+ posts p.m . Soon Post per Month may cross the Real Rent p.m .

            One may start a new thread " Posts per month Trend and Pattern "

            Transfer fee collection is mutually agreed and signed by Builder and original Buyer. Builder enters into an agreement with original buyers background, financial arrangement from own or bank source and if he chooses to sell in between to some unknown buyer and push him to deal with Builder without proper payment for the planned construction activities, Builder will be in soup . When many indulge in such practice, builder has to at times halt the project and deal with unknown buyers whose real profile is not known to them.

            Hence they stipulate such conditions and get the consent from original buyer . Most of the original buyers keeps such transfer fee in their pricing while negotiating .

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            • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

              Originally posted by k11 View Post
              Thats a unrealted blog post.

              In Chennai, you have UDS you can sell it to anyone. No need to get persmission from anyone.

              In Mumbai, all the UDS land is owned by assocaition and you are the member of it.
              Transfer of membership befrore the assc forms is the issue here.

              There is no need to link it and confuse the people here.
              Are they following chennai practice for UDS? They are collecting transfer fee for issuing NOC.

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              • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                Plz understand that the transfer fee is not applicable for those who have registered.Its for those who wants to sell in between!This transfer fee is charged by almost all the builders to my knowledge.Tvh is charging 15% & its prudent to register and sell in this case.Comming to rental thing,2 five BHK apartments at Oceanic have been let out at 1.5 lakhs per month!But i dont say that all apartments will fetch same rentals.Depends on the way its furnished.

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                • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                  For Hexaware too , flats leased at 50 per sqft .

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                  • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                    Originally posted by chandru_13 View Post
                    Plz understand that the transfer fee is not applicable for those who have registered.Its for those who wants to sell in between!This transfer fee is charged by almost all the builders to my knowledge.Tvh is charging 15% & its prudent to register and sell in this case.Comming to rental thing,2 five BHK apartments at Oceanic have been let out at 1.5 lakhs per month!But i dont say that all apartments will fetch same rentals.Depends on the way its furnished.

                    I see this comment in many post - Very High unbeliveable rental quoted with disclaimer about furnishing. Wondering what kind of furnishing will fetch 10times the normal rental? If the value of apartment itself is 1C and to take the rental to 10times its normal yield then will the value of funishing be 10C? May be something like what Sadam has had???

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                    • Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      Out of the 1000 apartments in Phase 1, how many (%) has managed to achieve the quoted rent (50 rs/sqft) and how many have the muscle power to spend crores on furnishing after spending a fortune to buy a 5 BHK apartment @Hira. After all this, you are still in the hope of achieving the expected rent on which you dont have any control of.

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