Egattur OMR | Hiranandani Upscale | 36fl x 1 | 31fl x 1 | 28fl x 7 | u/c

[Indian Sun]

Site updates as on November 1st and 2nd

[Indian Sun]

[Indian Sun]

[Indian Sun]

I paid a visit to the site today, under the guise of checking out for bookings. The project updates you see is of Phase I.

Phase I has 6 towers (28 floors each) and is expected to be handed over by June 2011.

Phase II has 3 buildings: Bayview (36 floors - the tallest), Edina (31 floors) and Oceanic (28 floors) and the construction will commence in March 2011

The model flat looks good.

[Mad 4 Madras]

Whats the cost per sqft?

[Murali Bala]

The smalest flat starts from 1.1 crore. (Kasuketha Dosai). I should appreciate them for bringing some real good quality to Chennai. A different breed of builders altogather.

[indiatraveller]

Originally Posted by Murali Bala

The smalest flat starts from 1.1 crore. (Kasuketha Dosai). I should appreciate them for bringing some real good quality to Chennai. A different breed of builders altogather.

I thought they were quoting 4500 per sq ft....The smallest unit they sell is 1100 sq ft. How does that translate to Rs. 1.1 crore for the smallest flat?

[darkprinz]

36 floors ... ?! Is this talllest residential building U/c in chennai ???

[Mad 4 Madras]

Thread heading says it is 28 floors

[Indian Sun]

Mods, please change the thread title to

Egattur OMR | Hiranandani Upscale | 36fl x 1 | 31fl x 1 | 28fl x 7 | u/c


The minimum unit space is 1295 sq ft (2BHK). The rate for that is Rs. 4750 per sq. ft. It comes out to be Rs. 1.2 crore overall. Looking at the quality of the model flat, it's worth every paisa.

I wish I can afford it at some point of time

[darkprinz]

Is that the tallest res. in chennai ??? OR any other building is u/c or planning ??

[TShyam]

Originally Posted by Indian Sun

Mods, please change the thread title to

Egattur OMR | Hiranandani Upscale | 36fl x 1 | 31fl x 1 | 28fl x 7 | u/c


The minimum unit space is 1295 sq ft (2BHK). The rate for that is Rs. 4750 per sq. ft. It comes out to be Rs. 1.2 crore overall. Looking at the quality of the model flat, it's worth every paisa.

I wish I can afford it at some point of time

I dont get it. It comes out to 6151250. Registration charges is 9%. So it is close to 67 lacs. Maybe they are selling CCP and club membership extra, say 3 lacs. Then it should be 70 lacs. How come the units starts at 1.2 crores? The difference of 50 lacs is baffling.

[shawman123]

Some of the Misc charges are

1) Parking - 3.5 lakhs
2) Electricity/water etc - 1L
3) Service Tax - 2L
4) Infrastructure Tax -1L?
5) Documentation Fee - 50K
6) Floor rise charges ( I believe its Rs 50 per floor starting 1st floor !!!!! )

plus few others. Builders are quite creative with this. Hira will probably add 15L to regular charges at minimum with high end being 30L more.

[TShyam]

Originally Posted by shawman123

Some of the Misc charges are

1) Parking - 3.5 lakhs
2) Electricity/water etc - 1L
3) Service Tax - 2L
4) Infrastructure Tax -1L?
5) Documentation Fee - 50K
6) Floor rise charges ( I believe its Rs 50 per floor starting 1st floor !!!!! )

plus few others. Builders are quite creative with this. Hira will probably add 15L to regular charges at minimum with high end being 30L more.

Even then it comes to only like 75 or 80 lacs at the max. Unless they have paintings of a famous artist on each apartment, this valuations is crazy.

Why would I put 1.2 crores on an apartment in the middle of nowhere when I can easily buy one for that money bang in the middle of the city. There are 1000 sq.ft apartments for that rate in areas like Nungambakkam, Annanagar and Adayar. After all price of a property is the function of its rent. In Chennai, currently you can get a yield of 4-6% for residential properties (some localities have much higher yields but they are exceptions). By that measure, these apartments should yield atleast 40K rupees p.m. They wont even give 10 - 12K provided you manage to find someone to rent it to.

If 1.2 crores is the cheapest, I wonder what is the rate of the most premium flat and which sucker buys that one!

[Indian Sun]

@TShyam: Sorry, my mistake. A 3BHK on the 36 floor tower, on the 15th floor tallies to 1.2 crore. The price for the example I gave would be 82.35L, and it's a 2BHK. As for the pricing, Hira definitely has a reputation for quality and luxury, I guess that's the reason.

@Darkprinz: I think BayView tower (36fl) in this township will be Chennai's tallest for the time being. TVH Ouranya Bay is 33 floors, I guess. Not sure about Tata's project in Oragadam.

[kannan infratech]

Sea view extra charge and Floor Rise extra charges. As you go higher and on the east side. the cost reaches the peak.

[Rasnaboy]

Originally Posted by Indian Sun

@TShyam: Sorry, my mistake. A 3BHK on the 36 floor tower, on the 15th floor tallies to 1.2 crore. The price for the example I gave would be 82.35L, and it's a 2BHK. As for the pricing, Hira definitely has a reputation for quality and luxury, I guess that's the reason.

@Darkprinz: I think BayView tower (36fl) in this township will be Chennai's tallest for the time being. TVH Ouranya Bay is 33 floors, I guess. Not sure about Tata's project in Oragadam.

AFAIK, TVH Ouranya Bay doesn't exceed 29 floors. Dunno if it was a new addition. And one (hotel) tower in Ozone's Metro Zone project is 31 floors high, I believe.

[Indian Sun]

Hi, Rasnaboy, long time.

The thread says TVH Ouranya Bay is 30 floors

[chennaidesi]

Welcome Back Rasnaboy

[kannan infratech]

Both Upscale & Ouranya Bay have got 100 metres height clearance. This means upto Ground + 32 floors max. With Lift Head Room and other architectural elements at the top, they may have restricted to 30 floors.