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Fairmont Apartments by VGN Guindy, Chennai

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Fairmont Apartments by VGN Guindy, Chennai

Last updated: October 31 2019
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  • Re : Fairmont Apartments by VGN Guindy, Chennai

    I think the buyer should do due diligence and analyze before getting in.

    Buillder should provide basic information such as,

    Carpet/Built-up Area
    Common Area
    UDS (Reg is done on UDS)
    FSI (Can be found in plan)

    If they do not, buyers should ask and get it.
    Better to avoid the project if the information is not given, why book blindly.

    Its not hard to figure out approximate carpet area% by looking at the plan.
    So it is easy to get a general sense of value to compare against other projects.

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    • Re : Fairmont Apartments by VGN Guindy, Chennai

      What is sky high premium? Do you have a number for this project? Or at least some approximate figure that qualifies as sky high premium.
      Sky high premium is a shoot from the hip and has no basis.

      If the project location is indeed a native 2.5 FSI as stated in this thread, premium FSI can be a terrific value for VGN. Looking at the adjoining areas (Parthasarathy Street, Ekaduthangal) and vicinity, I estimate the GV of the land to be between Rs 3200(Type III) - 3500 psft (Type I). [Attractiveness of this math does not change even if you add Rs 1000 psft for the land]. For a 2.5 FSI site, land component for every sq. ft of saleable area is likely to cost Rs 1100-1200 or this is what VGN will end up paying to acquire the premium FSI. This is for a project whose base price is Rs 6600 + all the extras.

      If you are a developer, would you pass up this opportunity? Where is the sky high? Yes, Govt is making money but who will end up making more money?

      Being cramped and dense is a fact, but it may already be 'in' the price.
      Last edited August 27 2014, 07:01 AM.

      Comment


      • Re : Fairmont Apartments by VGN Guindy, Chennai

        Originally posted by maverick007 View Post
        If the project location is indeed a native 2.5 FSI as stated in this thread, premium FSI can be a terrific value for VGN. Looking at the adjoining areas (Parthasarathy Street, Ekaduthangal) and vicinity, I estimate the GV of the land to be between Rs 3200(Type III) - 3500 psft (Type I). [Attractiveness of this math does not change even if you add Rs 1000 psft for the land]. For a 2.5 FSI site, land component for every sq. ft of saleable area is likely to cost Rs 1100-1200 or this is what VGN will end up paying to acquire the premium FSI. This is for a project whose base price is Rs 6600 + all the extras.
        What a wonderful post.

        How can Guideline value be 3200 when the same land was bought on papers for 7500-8500 psft. Why would Govt charge it lower, 1100psft.

        This land parcel is on main road with a registered transaction history at higher value.
        3200 is impossible - not even in your dream.
        Ridiculous numbers being thrown out here.
        I am not arguing on such senseless estimations.


        I will let the other forum members decide on what the actual guideline value is here.
        Last edited August 27 2014, 09:39 AM.

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        • Re : Fairmont Apartments by VGN Guindy, Chennai

          Originally posted by k11
          This land parcel is on main road with a registered transaction history at higher value.
          I am too well aware that you type lot of stuff with out engaging the cerebral part . There is enough precedence in your posts where you make lot of judgemental posts with out having no clue on what it is in reality. Here is one - you do not even know the location but you wrote an essay covering lot of stuff which makes no sense - sky high premium, Govt making money etc. You have the gall to call my numbers as ridiculous.

          For a veteran member, your shoot from the hip is legendary and you do not back up what you claim. You said "Sky high premium" and when asked for specifics, you scoot - your usual style.

          Read this post first to know the location before you post anything in this thread.

          Here is my style: I stand to reason before I post. Even, when I speculate, I make my assumption boundaries clear so that readers know. I stand by what I write and when asked (even after few years), I can explain why I said so. I wish you followed this style for at least 1 out of 2260 posted so far.

          Your style: After logging in, look for anything to do with FSI is posted. Play the same old record. Do not even bother to know the context, location etc. Make it a point not to respond when specifics are asked. Every day is a new day and the cycle repeats.

          For instance, I do not know the GV of this specific site. I did my home work on finding the closest area and vicinity and posted in very clear terms as to why I think the GV I quoted as plausible. You need to learn and grow. In the garb of opinion, you dump lot of unsubstantiated non sense and when asked for specifics, you evade and stray in to other threads. Very atypical of a veteran member. Now, you can eat the #103, please . Most likely, you will be a no-show in this thread for some time!
          Last edited August 27 2014, 09:58 AM.

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          • Re : Fairmont Apartments by VGN Guindy, Chennai

            Originally posted by k11 View Post
            Originally posted by maverick007 View Post
            If the project location is indeed a native 2.5 FSI as stated in this thread, premium FSI can be a terrific value for VGN. Looking at the adjoining areas (Parthasarathy Street, Ekaduthangal) and vicinity, I estimate the GV of the land to be between Rs 3200(Type III) - 3500 psft (Type I). [Attractiveness of this math does not change even if you add Rs 1000 psft for the land]. For a 2.5 FSI site, land component for every sq. ft of saleable area is likely to cost Rs 1100-1200 or this is what VGN will end up paying to acquire the premium FSI. This is for a project whose base price is Rs 6600 + all the extras.
            What a wonderful post.

            How can Guideline value be 3200 when the same land was bought on papers for 7500-8500 psft. Why would Govt charge it lower, 1100psft.

            This land parcel is on main road with a registered transaction history at higher value.
            3200 is impossible - not even in your dream.
            Ridiculous numbers being thrown out here.
            I am not arguing on such senseless estimations.


            I will let the other forum members decide on what the actual guideline value is here..
            Veteran members are posting ridiculous numbers.

            I wonder, if they do not know the numbers, why post around such incorrect estimations.
            Post it and argue, if you know what VGN is paying.

            No point in discussing such low numbers without any proof. Bring the proof on what VGN is paying then your post will be considered serious.

            Most information is public. They can contact VGN and ask them.
            Else you can contact the sub registrar office on what the guideline value for this property is.

            If a member racks up thousands of posts fighting other people, they also become a veteran member. It means zero value. Posts in this thread are prime example how the veteran member wants to drag me into a stupid pricing estimation. I would advise members to ignore such numbers and gather their own information.

            I will let the forum member in question carry the so called 'Veteran' status and throw around more baseless numbers.

            Comment


            • Re : Fairmont Apartments by VGN Guindy, Chennai

              Originally posted by k11
              This land parcel is on main road with a registered transaction history at higher value.
              Can you post one transaction from the history? Is the above reference right? Absolutely wrong. Even after I exposed you on you got the location thoroughly wrong, you had no qualms or remorse to post the same rant. Unbelievable. First, you get the location right and prove that it has the 'sky high premium' both of which are you are shooting from you know *where*. You need to come clean on the location and understand premium FSI before rattling the basic arithmetic all over and fill the IREF with the obvious.


              Originally posted by k11
              No point in discussing such low numbers without any proof. Bring the proof on what VGN is paying then your post will be considered serious.

              Most information is public. They can contact VGN and ask them.
              Else you can contact the sub registrar office on what the guideline value for this property is.
              With out knowing any of the above, how the heck you misled here quoting "sky high premium", availing premium FSI is rare, Govt making money. You are the one who made the initial claim. Not even knowing the location, you are playing the same 'His Master Voice' record; If you did not post your crap and misled, my post would not be here. I did not post my numbers first and you did - shooting from the hip. I asked few specific questions. As usual, you never had substance backing your statement. I had to resort to where our usual exchange ends up - expose your hoot and scoot thread bare.

              Looks like I have carved your style right and read in my earlier post . If you make a post which is wrong and misleading, I will call out. Members can see how my #95 sought more explanation for your shoot from the hip and what you did or did not do from there to see why you ended up here. Your frustration in having got caught red handed with nothing to back up is clear as you started posting your anguish in 'Latest Property News". Is your anguish a news?

              Members can see, you made a tall claim in #95 with out having any basis(no idea on location, no idea on GV, no idea on how premium FSI works) - which I reiterate again:

              I think only Govt makes money, even for developers it is hard to monetize as the upfront payment and its interest cost, for extra FSI is high.

              VGN will not get approval unless they pay the sky high premium FSI fee to the CMDA.
              No idea if VGN has the money.

              You have been politely indicated by other veteran members to know before you post - on suburbs, TNHB plots topics. You will do fine with in the realms of FSI and BC/WG/PG and anything beyond, as you had seen, it will be in Property News !!
              Last edited August 28 2014, 07:59 AM.

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              • Re : Fairmont Apartments by VGN Guindy, Chennai

                People can see how the person got a 'Veteran' status. He is going to post 5 more pages of crap.

                Baseless numbers without any concrete proof - that is folks @maverick007's style.

                Not going to spend my time reading such a long useless blabber. I would suggest forum members also to save their time.

                Now we can wait for more vomit. Continue please.
                Last edited August 28 2014, 07:58 AM.

                Comment


                • Re : Fairmont Apartments by VGN Guindy, Chennai

                  You have been politely indicated by other veteran members to know *something* before you post - on suburbs, TNHB plots topics. You will do fine with in the realms of FSI(not premium FSI !) and BC/WG/PG(for whatever its worth) and anything beyond, as you had seen, it will be a story of anguish and will be in Property News !!

                  My way of indicating to you: Fosters - Australian For Beer .
                  Last edited August 28 2014, 08:07 AM.

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                  • Re : Fairmont Apartments by VGN Guindy, Chennai

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                    • Re : Fairmont Apartments by VGN Guindy, Chennai

                      Nice portrait. When and where was it taken - GK Vale or Picture People or JC Penney. Coverage area has a deviation . No proper set back or bib set up!! Please post some childhood portraits too.

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