I missed the oppurtunity of buying a hiranandani apartment in mumbai and today its beyond my reach by all means. My friends family had bought 3bhk in hiranandani powai in 1998 around1000 - 1500psf, today after 12 years it a whopping almost 20k psf. After some of the posh location in mumbai, hiranandani powai is best place to live in mumbai. I always curse my decision for not investing in hirandani powai. And many of you in mumbai will agree with that. The quality of life in hiranandani projects and the amazing quality of construction hiranandani gives, I guess no builder in india can give. Hiranandani properties are the best property investment an individual can make in India.
Distance: After reading their add that history being recreated at Bangalore, I rushed to see the project. After travelling almost a exhausting 60 km from the airport, which took almost 3 hrs (maddening traffic due to narrow roads and infinite signals) I reached their bannerghatta project. While entering bannerghatta road, you will see most of the big IT companies on the main road and also the IIM Bangalore. About 2 kms away from IIM, you will have to take a 1 km narrow road inside, in fact half km there is no road.
Location: We reached the location, it was empty land nothing started yet not even the foundation work. The location is in front of a small lake, I guess it would rather be right to call it a big unclean pond. It seems the locals where throwing all their household filth in this pond. Its local village kind of place, no posh location whatsoever but much better when you compare it to the slums of Mumbai. Also it is on the outskirts of Bangalore, but it shouldn’t matter because the central bangalore is just like any railway station area of mumbai, secondly bangalore goes in circle with around 10 to 15 km radius. I can say I was completely dissappointed with the location, you can compare the project to hirandani estate in thane. But then again infrastructure wise thane is way better then bangalore. It will take another century for bannerghatta to come somewhere close to hiranandani powai, which is centrally located and a has billion dollar view of the big powai lake, vihar lake and the national park.
Price: As per the location the price 3900 psf seems bit high. But its always been like that, hiranandani always quote 1000 psf more then the market rate. One big reason is because the kind of elevation they give costs almost double the construction cost of usual building. But still I feel compared to the location and infrastructure around, the prices are too high, it should be around 2500 for under construction.
Pros: The only plus point I could note was that it had many big IT companies in its vicinity and some prestigeous institute, electronic city is around 15 km from this place. Also you get everything for daily household items nearby at reliance fresh, big bazaar etc. Reputed school and colleges nearby. I have no idea about water and electricity, but looking at the location it seems water and electricity is a problem.
Cons: Location not up market whatsoever, Infrastructure around very bad. Public transport is nightmare, So if you are not without your private vehicle, it will be like roaming in desert. Beware of private cabs and autos, they charge more then the busines class seats in airlines. No trams, trains, buses etc. By the time the metro comes at this location we all will be dead. Climate is still cool, but won’t be for long for rising pollution level.
Conclusion: For somebody from mumbai I would say no, better look at hiranandani estate in thane its much better to live but for investment hiranandani bannerghattha is not that bad. For bangalore residents who haven’t see hiranandani construction I would say yes, because hiranandani construction is much better then all the present indian and foreign builders in bangalore. You will only understand what I mean when the project is complete, it would be much better then the L&T south city nearby. Having said that I am not sure if its completely hiranandani project for its say builder name as "HIRCO". So look into all these minute details before investing.
I also had a look at hiranandani at devanhalli, except the airport there is nothing nearby for miles. I would say if you are in your 20’s or 30’syou can book it for you retirement days or probably weekend or second homes.