Glentree Onyx : New High-Rise Launch at RTC X Roads, Central Hyderabad

Glentree Homes has a new launch near RTC X Roads, on the Musheerabad side. Its called Glentree Onyx, a single tower with big 3, 3.5 and 4 BHK flats. Gated high rise projects are rare in this belt, most of the buildings here are old standalone ones. All the details and the total cost are below, with some open questions at the end.

Details known so far:

Towers: 1

Floors: 35

Land: 1.82 acres

Units: 245, with 7 flats per floor

Density: around 135 units per acre

Configuration: 3, 3.5 and 4 BHK

Unit size: 2032 to 2945 sqft

Location and metro

As per listings, RTC X Roads and Musheerabad metro stations are about 0.5 to 1 km from the site. Both are on the Green line, which runs from JBS Parade Ground to MG Bus Station. RTC X Roads station is open since Feb 2020. Green line connects to the Red line at MG Bus Station and to the Blue line at Parade Ground.

The main doubt is how a 35 floor tower will fit in such a crowded area. Also Green line is the shortest of the 3 metro lines and people have complained about its frequency before. Try it once during peak hours before depending on it for daily office travel.

Price and total cost

One portal shows around ₹9,005 per sqft. Another one shows the Musheerabad average at ₹5,362 per sqft, so Onyx is roughly 68% higher. Ofcourse that average has alot of old buildings in it, so its not a fair comparision. Still, it shows how much you are paying extra for the new tower and the location.

Prices on different sites dont fully match either. 1.83 Cr for the 2032 sqft unit comes to about 9,000 per sqft, but 1.89 Cr comes to about 9,300. One portal shows a range of 1.83 Cr to 2.53 Cr. But the biggest unit, 2945 sqft at 9,005 per sqft, should come to around 2.65 Cr. Best to get the actual price sheet from the builder directly.

Extra costs matter more then the base price. Rough calculation on 1.83 Cr:

GST is 5% for under construction homes that are not in the affordable category, so about 9.15 L. Its paid in parts with each demand. Ready homes with OC dont have GST.

Stamp duty + transfer duty + registration fee in Telangana comes to 7.5% total (5.5% + 1.5% + 0.5%). Thats about 13.7 L if its charged on the full price.

Down payment of 25% is around 45.75 L, since RBI allows only 75% loan when the loan is above 75 L.

So own money needed over the payment schedule is about 69 L. This is before interiors, corpus fund and maintainance deposit.

Loan would be about 1.37 Cr. At 8.5% for 20 years the EMI is around 1.19 L per month. At 7.5% its about 1.11 L.

Builder website says window grills are extra cost. So ask them what else is not part of the base price.

Density

245 flats on 1.82 acres comes to about 135 per acre, with 7 flats per floor. Some newer mega projects in the city are above 180 per acre, so this is dense but not too extreme. And since units are big, less families will be sharing the lifts and amenities.

6 lifts means about 41 flats per lift. Need to confirm if the service and fire lifts are included in that count or not. With 2 car parks per flat thats around 490 resident cars, plus visitors and delivery vehicles. The 34,000 sqft amenity space looks decent on paper but the actual floor plans will tell more then the renders.

The extra floors could be the stilt parking and amenity levels. 1,535 sqft is about 75% of 2,032 sqft, which is a normal carpet to saleable ratio. So it might be the carpet area of the smallest unit and not a seperate unit type. TG RERA page should clear this up. Also the possesion date that actually matters is the one in the registered agreement for sale, not whats written in the brochure.

Builder

Glentree Homes says they are active since 2008. On portals, most of there older projects are plotted layouts and open plot communities like Pharma County, Springleaf and Silver Leaf, in places like Nandiwanaparthy and Shadnagar. They also have a villa project going on, Glentree Serenity in Nadergul. Onyx looks like there first high rise tower. There are no independant resident reviews yet on how they handle lifts, leakage, maintenance etc in a tall building.

Things to check before booking:

TG RERA page for promoter details, registered completion date and the seperate project account (70% of buyer payments has to be kept in it)

Title documents and encumbrance certificate

Fire NOC and AAI height clearance, since Begumpet airport is just a few km away

Environmental clearance. Its needed when built up area is above 20,000 sq m (around 2.15 lakh sqft), and this project is clearly above that

Payment plan. Under RERA builder cant take more than 10% of the price before a registered agreement for sale

Traffic and water

RTC X Roads has always been a bad junction. The 2.6 km Indira Park to VST steel flyover opened in Aug 2023 and lets through traffic skip 4 junctions, including RTC X Roads. That helped through traffic. But local traffic near the junction and the theatres is still heavy, same for the commercial stretch. Locality pages also list traffic jams and parking as the top complaints from residents.

With about 245 families this project is much smaller than the mega projects. Bigger risk is the access road width and whether the entry/exit gates can handle peak hour traffic.

Water supply is listed as HMWSSB (metro water board) plus borewell, with a softener plant and STP. Visit once in the evening and once during monsoon to check drainage and water logging, and if there is any bad smell.

Questions for people who know this area:

1.Anyone bought or rented here recently? What prices and rents are you seeing?

2.Anyone has dealt with Glentree Homes before? How was the experience?

3.Is 9,000 per sqft fair for this micro market?

And lastly, for self use, is this worth it or is a ready project better?