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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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  • #921
    #921

    Re : Hiranandani Upscale House of Hiranandani OMR Chennai

    @Speculator,

    Sorry if I had confused you earlier, it was not intentional. There are active members in forum who have invested in Hira like Kannan82,chandru_13 and Clairevoyant. They are decent and knowledgeable folks. Unfortunately can't say the same about some other Hira buyers who bring bad name for the project and all the other buyers.

    Enjoy posting in IREF.
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    • #922
      #922

      Re : Hiranandani Upscale House of Hiranandani OMR Chennai

      Speculator,

      There are active non Hira memebers who are very decent and more knowledgeable like nabishek,Mav ,Srivat,Economist ,Sraj etc. and few other IMO

      They never bring bad reputation for Hira nor indulge in twisting with double standard posts without having valid info ,data and assimilate the essence from other posts before posting .

      They also do not confuse any buyers and interested members and take the same topic to beat like washing machine .

      Follow them for your hunting if you love to invest in Hira flats .

      By now you know where to seek and how to follow others for collecting info .

      Disclaimer : More interesting fact is that Kannan,Chandru,Clairvoyant are all my friends and fellow owners in Hira

      Now I know that you would have got totally confused as that is the sole intention of one VERY DECENT AMD DEVOTED Non Hira member here
      Last edited July 6 2013, 11:01 PM.
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      • #923
        #923

        Re : Hiranandani Upscale House of Hiranandani OMR Chennai

        Originally posted by srivat View Post
        I thought we already talked about it in length this week. Not again.

        Aracha mave thirupu araiya vendirkum (We will be circling to what was discussed from beginning)
        Fair enough. But you started it again- I can assert, flats can never be freehold (unless you own whole lot). There's lot of ambiguity here, even with seasoned campaigners on UDS.
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        • #924
          #924

          Re : Hiranandani Upscale House of Hiranandani OMR Chennai

          Originally posted by Clairvoyant View Post
          Fair enough. But you started it again- I can assert, flats can never be freehold (unless you own whole lot). There's lot of ambiguity here, even with seasoned campaigners on UDS.
          You missed the point. Please read from couple of messages backward.
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          • #925
            #925

            Re : Hiranandani Upscale House of Hiranandani OMR Chennai

            Originally posted by srivat View Post
            You missed the point. Please read from couple of messages backward.
            It's not exactly clear what you meant, but will leave it here.

            My point was people who are banging on UDS- aren't exactly clear why/what (is) UDS? irrespective of their UDS % , it's not freehold.
            Last edited July 6 2013, 06:27 PM.
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            • #926
              #926

              Re : Hiranandani Upscale House of Hiranandani OMR Chennai

              Kannan,

              Please be carefull with Non Hira Decent Agent which will twist anything as per its whims and fancies .

              More the details we provide , more the feed for it to chew before spitting because it does not have any valid info neither sqft ,BHK or Ground reality . It carries the post , drop and aise time and again.


              Originally posted by kannan82 View Post
              Yes Ravi, I should have added that disclaimer for the yet to be constructed towers. Edited my previous post and included that disclaimer
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              • #927
                #927

                Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                Yes. This is a very complicated topic to be debated and we need to sit for an hour or two and discuss to understand what is that and why is that , if one is confused . Until then it will be confused by Veteran Member L4L by increasing number of posts .

                A topic started must be thoroughly debated, argued, discussed with details and facts and figured need to be derived out with conclusion so that it will be usefull for all of us in right sense and direction in DECENT way by DECENT Members

                Evading and Disappearing will keep the topic alive and confused for ever .

                UDS ,DS, Liquidity of UDS at End and Anytime for DS , Ownership of UDS and Using the UDS of others as part of owned UDS need to be understood thoroughly before talking about simple freehold or leased one in RE



                Originally posted by Clairvoyant View Post
                Fair enough. But you started it again- I can assert, flats can never be freehold (unless you own whole lot). There's lot of ambiguity here, even with seasoned campaigners on UDS.
                Last edited July 6 2013, 11:46 PM.
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                • #928
                  #928

                  Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                  Originally posted by Clairvoyant View Post
                  It's not exactly clear what you meant, but will leave it here.

                  My point was people who are banging on UDS- aren't exactly clear why/what (is) UDS? irrespective of their UDS % , it's not freehold.
                  I totally agree UDS is not freehold in apartments. But in my opinion that really plays a factor during the lifeterm of apartment. And it does play a factor in my decision to select an apartment.
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                  • #929
                    #929

                    Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                    Uds is by all means freehold except that the given area is held by not an in individual but by a group. So as a group it is completely freehold. Though There are practical difficulty in realizing the complete threshold value of the land if it is held by group compared to the one held by individual, still it has better value to the one not having UDS at all.
                    When we are comparing the UDS of flats, I don't think it is correct to compare it with plots, like comparing apples and oranges.
                    Investment in plots and investments in flats are of different categories. Again buying for own use is a different case where different parameters come into play. Whether Hira is good for buying for own use is by itself a different topic.
                    Restricting to the investment point of view, for me UDS is one big criteria to take a decision.

                    There are two part to the UDS. Pros and Cons of owners holding the complete UDS. Pros and Cons of Hira holding the UDS.
                    The only con of individual holding the UDS is about maintenance nightmare which is being projected here multiple times Except that there is no other disadvantage explained. Now my query with respect to the maintenance
                    1. As seen from this thread there are two parts to maintenance - maintenance of the towers, maintenance of other common area and amenities common to the tower. Who is going to maintain the individual towers. Is it the association or the Hira?
                    2. If it is the association, what are the functional aspects that has to be maintained by the association. I.e those belling to the tower?
                    3. Does individual tower has more functional aspects which has to be maintained which will be a more complex and worst nightmare than those common amenities?
                    4. If the maintenance of the individual tower is more complex which the association has to maintain, and it is assumed here that association will be able to maintain them well will it be difficult for association of the individual towers to get together and maintain other common items which will be of less complexity? If hundreds of individuals can get together and maintain their tower properly, will it be difficult for few association to get together?
                    5. Hence in my point of view quoting maintenance nightmare as a reason for Hira holding the Land is not fare. And also many stories are written here about maintenance nightmare in other flats. So those nightmare will still hold good with respect to the individual tower maintence if it is going to be maintained by the association. So why should one buy into Hira if some one has to escape out of that nightmare? I am not sure why the same reason should be kept on projected when the discussion on UDS happens at any point of time. Please project if there is any other advantage in Hira holding the UDS.
                    6. I don't think Hira would have considered about maintenance as a parameter to decide on giving such a low UDS. Their decision would have been based on the continuous business, keeping the cash flow intact etc.

                    Most of the people know the advantage of having UDS. Hence I am not going to add anything more on that part.

                    While we have seen that there is no distinct advantage of Hira holding the land, and even if you assume that there is no real value in owners holding the UDS ( just for argument sake, because I am of the firm opinion that UDS has high value in flat investment)

                    What are the cons if some one is holding the land and they are in a position to control the owners?
                    Many of it are already discussed in earlier postings. Some of the itemsfor recap
                    1. What if tomorrow Hira is doomed? Since we are talking about 40, 50 years of life for the apartments, anything can happen inbetween, and of Hira as a company does not exist after few years, what is the status of these amenities? Association can't take control of it since it does not own it?
                    2.what is if Hira charge exorbant amount for maintenance? How will the association control it? Especially if it charges more but does not maintAin well. We can talk about brand name and say they will not do that, but it all depends on the changing circumstances and the people who governs it?
                    3. Many of these amenties will be open to public. What if the outsiders usage of these amenties exceeds the threshold.
                    4. While it is said in this forum that upon redevelopment the same build up area is guaranteed to the owners, the question is whether it is guaranteed legally? Whether it is mention in the legal document?
                    5. The only adavantage i am seeing is that for hira where, If Hira is continuously going to build for next thirty or forty years and by the last tower is completed, the first tower will be ready for demolition and rebuilt and the owners can happily buy their unit again by giving the prevailing market price, if their right is not legally guaranteed. Again I M talking about buying apartment not taking it in leasehold.

                    Also it would be good if some one who has bought in Hira clearly specify who holds the rest of the land after the UDS is distributed? Is it Hira or will it be in the name of the association? While this query was already raised here, the answer is evading. There is no Clare cut answer. I have assumed that it will be Hira which will be holding the rest of the land.

                    There are many more items, and it is for the buyers to analyze and invest.
                    Last edited July 7 2013, 09:35 AM.
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                    • #930
                      #930

                      Re : Hiranandani Upscale House of Hiranandani OMR Chennai

                      ChennaiInv,

                      Freehold in real terms is ones will to exercise at any point in time. I cannot exercise my options on UDS but inturn I can by means of apartment. The point I wanted to convey to Hira upscale owners is UDS is an appreciating asset for me and apartment at overtime depreciating. The apartment cost in any area depends on land value and possibility of my apartment appreciating over time even with age is high.

                      One question to Hira Upscale owners. Is the individual tower FSI based on the land that the tower owns or the total area. If I am not wrong seeing the UDS % it is on total area. If that being the case why is Hira not distributing it to owners and have a contract to maintain it for xx years.

                      Note: Hira = Hiranandani and <> Diamond
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