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.

Happy forumming

be the change you want to see in the world :)
Read more
Reply
1826 Replies
Sort by :Filter by :
  • Upscale Price is 3 times higher than other builders on Nett basis. Obviously the amenities and facilities expected to be out of such areas will be much ( should be rather ) better than other builders Offerings and Maintenance. Having bought a Merc, one can not see the Fuel Gauge while driving at the cost of comfort with worry on Mileage . One has to spread the Investments in all kind of Projects for good overall return right from CBD to Suburban in Land,House,Flats

    Having said that How Hira created record by maintaining such high Price and periodically increasing it in over supply OMR Market needs to be seen how they maintained high Quality of Construction standards and pulled Target buyers across the Globe with that High Price bracket level consistently

    Hira Powai invetsed at 4K yielded 21K for one Buyer who inturn sold that and bought 3 BHK and 5 BHK flats last year by keeping additional money in FD . They shared their experience when I happened to meet . Investment and it's appreciation varies from 1. Location to Location, 2. Time to Time and above all 3. Person to Person . Ultimately the Person who invetsed is responsible for 1 and 2 and not others

    One has to apply mind to opt for " Developer maintained Common Amenities " with calculated High maint risk factor for the comforts expected or opt out to go in for " Onwers Maintained Common Amenities" with NIL risk for No Comforts . Choice lies ultimately with Buyers and nobody can advise in this case.

    For budget and UDS conscious buyers, it is not the choice but many in OMR that too closeby .
    CommentQuote
  • Precisely the opposite, anyone buying Hira upscale for own use must be entry level luxury aparment buyer, conscious of budget. If someone is not conscious of budget, there are better options like ECR Villa or MRC Nagar or Boat club apartments.

    Even in the same location there is a better alternative, Akshaya Abov with no issues like EWS or builder retaining land or UDS or maintenance.
    CommentQuote
  • Originally Posted by Love4land
    Precisely the opposite, anyone buying Hira upscale for own use must be entry level luxury aparment buyer, conscious of budget. If someone is not conscious of budget, there are better options like ECR Villa or MRC Nagar or Boat club apartments.

    Even in the same location there is a better alternative, Akshaya Abov with no issues like EWS or builder retaining land or UDS or maintenance.


    Hira Upscale and Boat Club apts are in completely different league and are designed for different clientele.

    Similary Abov does not compare with whole of Upscale.
    Abov competes with Seagull only.

    If someone is looking for apt in nice building in 90L-2C range there are not many options in OMR beyond Hira.
    CommentQuote
  • As a bystander, personal opinion- projects like Upscale are not meant for investments and you would be disappointed with returns over long term. They address completely different segment (lifestyle appartments) which is yet to be exploited in Chennai. Now we could see the awareness and competing projects from other builders.

    Over a period of time Upscale will be upstaged by other projects, but will retain it's own presence as market is big enough to accomodate. In early 2000- when Prestige Acropolis (blr) was launched with price tag close to 1 Cr and life time maintenance- people went bonkers on the valuation as plots were available for 10-15 lacs on Airport road. When I last checked they are hovering around 2.5 crs today with overall appreciation of 150% in a decade. But it kickstarted multiple projects and stabilised the lifestyle appt prices in Blr and I do expect something on similar line in Chennai.

    With multiple variants (tower) in HUS to target different clientele- for many it's an opportunity to onboard premium segment. But we aren't objective, when we group all projects as one , as I could see Seagull specs really stand apart.

    As a FTB of flat in Chennai- I would contemplate HUS and other projects, but it's too early to class it as world class or anywhere closeby, but it's a step in right direction. Individual investment decisions will be based on different parameters, and each have their own logic.

    On land locked country like India- 10 years from now there may be another discussion on leasehold properties.
    CommentQuote
  • Experts,

    Any info on Chennai Metro sewage treatment plant Navalur ? Please let us know about the location and implication on this to HIRA if any.

    Thanks in advance for your time and replies
    CommentQuote
  • Neither expert nor aware of STP plant in Navalur. There were discussions on Shollinganallur STP and this article says the same http://www.thehindu.com/news/cities/chennai/article3207184.ece
    CommentQuote
  • Clairvoyant

    Please find the details from CMWSSB

    7. CONTRACTION OF SEWAGE TREATMENT PLANT

    CommentQuote
  • Thanks fyi. It's a welcome addition indeed for all those flats in OMR. It says Navallur and two pumping station in Navallur E and W.

    So it should be few kms prior to Siruseri- rather than speculating will leave to people who have ground knowledge to comment on exact location.
    CommentQuote
  • Some inputs form my mails i have excahanged with Hira sometimes back to concerned and getting reproduced for others info after verifying the veracity with COC, CMWSSB and concerned HOD

    1. What measures have been taken to implement WTP,RO,STP through interconnected Borewells and or Govt connections. STP is being planned at ECR link road near Sholinganallur ,I heard. 

    WTP is being installed to treat well water. RO plants are currently not permitted in inland areas far from sea. Two nos STP are installed in phase 1 and will operate when min occupancy is achieved. We will be utilising the treated water internally and will use Metrowater for emergency. Metrowater has created the infra on OMR for handling water and sewage which is expected to be operational in 2013. There are two STP planned by Metrowater for the handling of the sewage on the OMR.

    Have the Borewells laid ,sample taken,analysed and WTP for cleaning and washing ordered and RO Plant for drinking ordered ?

    Open wells are periodically tested.


    Many of us will remove RO gadget given and will use KINLEY water through bubbles but for washing and cleaning and to protect costly tiles and toilet fittings,we need definitely WTP.as you are aware

    We have provided a water purifier in the kitchen which filters and treats with UV radiation.  
     


    2. When the Grocery store ( Temporary shed  or Hikoo ) is planned for use?
    Someone posed a question to me " when Hira takes quick effort to build new model flat by demolishing old one, what is the cause for delaying Stores and Club?

    Stores is pre-engineered structure and will happen by Feb’13. Clubhouse is designed with unique finishes and equipment which means interfacing with numerous vendors globally.

    I am convinced that stores need minimum dwellers to analyze the consumption and keeping inventory at optimum level and Club house will be ready before Feb 2013 but needs date from your side

    Stores by Mar’13 & club in phases with initial phase in April’13.

    If details like Club Equipments ordered and expected for installation on such and such date and Club house is in the leg of commissioning ( which I can see physically), it will be usefull to convince mutually others and self.

    Noted will revert

    3. When the maintenance charge will start clicking at 2.50 per sqft ?

    Will be announced shortly

    4. Is there any plan for building temporary or Permanent compound wall on the bank side of back water and if so when?

    No plans as backwater acts as boundary and also secures
    CommentQuote
  • Deleted
    CommentQuote
  • Definitely opposite and out of sight

    Originally Posted by Love4land
    Precisely the opposite, anyone buying Hira upscale for own use must be entry level luxury aparment buyer, conscious of budget. If someone is not conscious of budget, there are better options like ECR Villa or MRC Nagar or Boat club apartments.

    Even in the same location there is a better alternative, Akshaya Abov with no issues like EWS or builder retaining land or UDS or maintenance.
    CommentQuote
  • Thanks Ravi Ji for the sharing this information. Definitely it helps
    ANy idea on the proposed STP location Navalur and Shols?



    Originally Posted by RaviCbe
    Definitely opposite and out of sight
    CommentQuote
  • Hi Everyone....

    Reading the IREF forums for the past several months and have really gained some knowledge and ground realities from here....thanks to K11, Ravicbe, L4L....and many others.... gud job friends...Came across this link from a friend on how Hirnandani compares with a prestige project in chennai... see the video from the 9th minute....

    Cheers
    Ganesh

    The Property Show: Affordable properties in Pune, Lucknow Video: NDTV.com
    CommentQuote
  • Thanks for posting the NDTV Analysis of Hiranandani upscale project in Chennai.

    I'll post summary for the benefit of those who are unable to view the video:

    Question from a buyer of Hiranandani Upscale and Presitge Bella vista in Chennai:

    "I own two apartments, one is at Hiranandani upscale and other at Presite Bella vista, I'm struggling to get tenant for Hiranandani upscale for 5 months, I'm planning to sell one of the two, which one should I sell?"

    Response from Real estate experts:
    -Hiranandani upscale is a good project in bad location, it is a luxury project in a locality of mid-market segment.
    -Porur is the best performing locality in Chennai.
    -Sell Hiranandani and retain Prestige Bella Vista



    this winds up the discussion in this thread
    CommentQuote
  • I concur with the views that Porur is the best performing locality, I've been analyzing property prices in the past 1 yrs and even seemingly overpriced projects in remote localities of Porur and Poonamalee have given 20+% appreciation.

    Whereas, in OMR, prices have stagnated or appreciated very little.

    I've repeated this multiple times but OMR fans have accused me of being biased and posting half baked analysis.

    Also I've been repeating that Hiranandani upscale is a bad investment and it is difficult to get high rentals, however many members pulled figures from thin air and were confidently suggesting it is possible to get tenants paying 1 lakh per month. Such rentals are only possible for ECR bungalows or CBD areas, Siruseri is a remote mid-segment white collar job locality. It is not a financial or investment hotbed with high paying jobs and HNIs.
    CommentQuote