Hi Guys
I am the owner of a 3bhk apartment in HPG.Update your feedback on the future prospects of this project.I bought very early and the current builder price is Rs 3600+35 floor rise.
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  • Originally Posted by Love4land

    As an analogy, we can take standalone individual house vs villa as an example. While both may have same built-up area and land size, the value and demand for the villa will be much higher due to demand supply dynamics and exclusivity factor. This project takes real estate development to next level, beyond villas and luxury apartments. A mini satellite town would be more appropriate.


    Individual House vs Township Housing is a no brainier in Chennai.

    Township properties will break the pricing barriers easily.
    In outskirts, it is hard to live outside a township without power/water/other basic necessities. Biggest issue is the social infrastructure.

    Gap is going to get bigger as the time goes on. That is my view.

    People with big time money, even middle class people are buying in townships. Gentry is important. Even though I drive a modest Hyundai car, people visiting me think I am a big shot when they see two of my neighbor's cars (Audi Q7 and 5-series Bimmer). We Indians love showing off, even when it does not belong to us.

    Lack of government initiative will ensure that the new township projects would give good returns to investors and also provide a safe/comfortable place to live for end-users.
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  • One of the videos show picture of land being leveled for golf course, most likely 9 hole one.
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  • Wait a minute. Do they a have a Golf Course here?
    Check the video from 2:30 onwards



    This project is implemented by arm owned by daughter.

    http://business.outlookindia.com/article.aspx?280752

    I'm sure there has to be lot more amenities like golf course else there is no pull factor to make people spend a fortune to buy apartment here rather than inside city or suburb, oragadam is not even a suburb it is an exurb. If their project succeeds, Chennai's image as end user market will slowly change as these kinds of projects mostly attract/targets investors and speculators than people buying house for self occupation (As Vettipaiyan said, you'll have to wait for 10 yrs for the township to develop fully, end users may not be very patient).

    Basic price of 2bhk (1400 sq ft) is over 50lacs, I think they are planning to launch 1 bhk and smaller sized 2 bhk units in future in price range of 33 lacs to 45 lacs, probably due to dampening investor interest.

    One good thing about Hiranandani is they'll provide all round service of taking care of your property and finding tenants. There is no shortage of corporate tenants, I heard they are very selective about the corporate tenants, they seemed to have declined offers from some companies in that region.
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  • They are doing 9 hole golf clourse one way & in reuturn its 18 hole.Designed by an expert.Its shaping up very well when i last visited about a month back.
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  • What is the going resale rate right now? What do people think - hold this till possession or sell it right now?
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  • I think the base rate is around Rs 4000 per sq.ft based on what I gathered from HDFC Realty in Chennai. Unless someone else have heared otherwise?
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  • Would recommend holding it as there is no option as of now - just impossible to sell at the current rate or even less than Rs 4000 - say Rs 3,700. There is no demand at all.
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  • what is the current sq ft rate and other cost element?
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  • Hello all,
    For your kind advice!!Please dont buy / book any appartment in HIRCO Palace gardens ,Chennaii have boooked an single BHK appartment Longleat -I in 2008 with a booking advance of 4.85 lakhs still now no approval and i have planned to cancel my booking last year end.They are making me to run here and there and no responce To your kind notice there is no email id you can find in the website for chennai and u can never get a single mail from their side.After months together of fight with the Head Bora and the lady in Mumbai Pripal they say the compnay is not in a postion to give money and we can do what ever we want do any thing legally they have told,inspite of having all receipts and documents .I have no option of doing any thing now.Please advice i am almost waiting for 4 years + 1 yr for refund.HIRCO are hi fi cheat and frauds,playing with the hard earned money of working class people.
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  • Originally Posted by Naveenojha1
    Hello all,
    For your kind advice!!Please dont buy / book any appartment in HIRCO Palace gardens ,Chennaii have boooked an single BHK appartment Longleat -I in 2008 with a booking advance of 4.85 lakhs still now no approval and i have planned to cancel my booking last year end.They are making me to run here and there and no responce To your kind notice there is no email id you can find in the website for chennai and u can never get a single mail from their side.After months together of fight with the Head Bora and the lady in Mumbai Pripal they say the compnay is not in a postion to give money and we can do what ever we want do any thing legally they have told,inspite of having all receipts and documents .I have no option of doing any thing now.Please advice i am almost waiting for 4 years + 1 yr for refund.HIRCO are hi fi cheat and frauds,playing with the hard earned money of working class people.


    Visit the local district consumer court. Write a complaint in plain paper along with proofs of payment.

    Below is the fee (No lawyers required)

    VALUE OF GOODS AND COMPENSATION AMOUNT PAYABLE
    Less than Rs. one lakh Rs. 100
    Rs. one lakh and above, but less than Rs. five lakh Rs. 200
    Rs. five lakh and above, but less than Rs. ten lakh Rs. 400
    Rs. ten lakh and above Rs. 500

    Address of district forum

    Consumer action against post office

    You will get your money with interest.

    I hope you have not signed any sale deed which has mention of location where the case is applicable?. Even if it is there consumer court will work.

    In case if you dont have time to file then go through this NGO. They charge a fee of Rs. 300/-

    Consumer Court

    Procedure for filing

    Procedure of filing consumer complaint
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  • Brand name my foot!!!! I somehow escaped from Hira and BHS. During 2008 one guy called Narashimman and he was staying in Park Sharotan Tenampet, showing me 3D modeling video....trying to sell 3 bed apt worth 67 Lakhs.... I said stop calling me. He went to the extent of begging me to buy at least single bed. Then I realized it is phony. He was insisting me to buy unit only in 8th floor(which no one prefers btw) ....very particular in offloading it on me.
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  • Niranjan is having tough times both in Powai and ORAGADAM . Hence HOH was coined to avoid confusion , I believe
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  • Originally Posted by RaviCbe
    Niranjan is having tough times both in Powai and ORAGADAM


    I hope you meant Panvel. Yes, Hirco is having a tough time with their Palace Garden projects in Panvel and Oragadam.

    If Hirco had such huge land in OMR or anywhere closer to Chennai, they would have been a success. Niranjan got the location wrong for their project in Chennai while his younger brother got it right.
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  • Over capitalisation

    HIRCO Oragadam is a classic case of over capitalisation.

    If one realy wants to buy a flat in Oradam, Then one should never spend more than Rs 2,500 (All inclusive)

    HIRCO will be easily around Rs 5,000 (All inclusive)

    This is over capitalisation for the area.

    The Rent + Maintenance will make it untenable.

    One should stick to the average price level for the area.

    There is a common real-estate saying:

    "Buy the worst house in the best area"

    Not the other way around.
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  • Originally Posted by Economist
    HIRCO Oragadam is a classic case of over capitalisation.

    If one realy wants to buy a flat in Oradam, Then one should never spend more than Rs 2,500 (All inclusive)

    HIRCO will be easily around Rs 5,000 (All inclusive)

    This is over capitalisation for the area.

    The Rent + Maintenance will make it untenable.

    One should stick to the average price level for the area.

    There is a common real-estate saying:

    "Buy the worst house in the best area"

    Not the other way around.


    Why single out hirco oragadam. Ur comment is valid for any hira project. All inclusive price for hira upscale will be in the range of 6500-7000. Is it not a classic eg of over capitalisation.
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