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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Gurgaon > Ireo - Victory Valley - Sector 67, Golf Course Extension, Gurgaon
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Old September 8 2012, 02:16 PM   #451
 
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Quote:
Originally Posted by rushilarora View Post
Wiki Bhai,

Can a seller ask for higher PLC in resale i mean more then what he paid in original booking.

As Ireo has not increased the BSP of IVV much but PLC has gone up. So lets say in resale the BSP quoted in the market is 8k but the PLC are diff, then can a seller demand higher PLC like IREO has done in the past and keep BSP low?

I want to know how is works in resale.

Thanks
.

This is the first instance when floorwise PLC are being charged , to a limited extent so does Tata Primanti but it is graded and not floorwise.
On the contrary newer and newer plcs are also being created, as i mentioned in GA it has increased from 2 originally to more than 8 . Hence there is not much of a precedent really in the past to judge wether market pays for these new additional PLCs even if in the original allotment it was not charged.

Theortically speaking that should happen as the effective price between resale ( on BSP ) and company price ( with all new plcs added ) increases day by day and that only helps the BSP of resale to go up, ofcourse i it would be largely dependent on the demand supply equation also.

However i believe once the original sales by builder are done , the market will creates a premium for real value adding PLCs over a period of time and rest all will congregate around the BSP , hence it is wise to choose real valued adding PLCs from an end user standpoint .

I am not sure how many other builders are trying out so many types of PLCs or will they become industry benchmarks in the future .

In the traditional market , the base price is what is the dominating factor with some premium for green facing units, that is my experience with sohna road properties . This assumes the house in the same state of maintenance and simillar work done inside.

for academic purpose the current different kind of PLCs in GA are as under. It will be interesting if others share details about other projects. :

Green (Zone 9 & 10)
Green (Zone 1, 2, 3, 4, 5, 11, 12, 13 & 14)
4 Side open
Corner
Club
Green & 4 Side open
Green & Corner
4 Side open & Club
4 Side open & Aravali facing
Green, 4 Side open & Aravali facing
Club, Green & 4 Side open

Thankfully for IVV it is still much simpler , though irrational ( primarily the floor based plcs )


a. Central Green - Mid-rise ( Rs 750 ) All floors

b. Central Green - Tower A,B ( Rs 750 )Floor 1st to 15th only and thus proving my point on lack of landscape visibility at greater heights )

c Central Green - Tower C ( Rs 750 ) for All floors

d. Penthouse - Tower A, B & Mid-rise (Rs 1000)

and finally the most crazy of them all


Tower A & B

Increases Rs. 50 psf per floor till 39th floor and Rs.100 psf per floor thereafter.

 
Old September 8 2012, 02:59 PM   #452
 
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Quote:
Originally Posted by Andyy1 View Post
RH - Getting quotes b/w 8000 to 8300. What about you?

Bikuji - almost all seem to have given at least 50% payment. Havenot come across a 85% one as yet. Will aoind them. Getting mostly b/w T A & B.
But what is throwing me off is the high non-bsp elements (PLC, EDC etc) which takes the price to b/w 9.5 to 10K. is it so high for everyone?
andy,

edc , idc will be for every project at the same rate, for that period of time. so that can not be changed . The PLC offered earlier should not be that high in mid rise.

i agree you should go by rushil bhai suggestion also .
 
Old September 9 2012, 12:24 AM   #453
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Dont you think that this is a smart play by IREO to counter the threat of loosing sales due to the difference in the resale price and their price.
Since most of the time BSP is the first level of comparison when selecting the project and also this is how market also quotes, IREO have smartly kept the movement in BSP very slow but increased the PLC discreetly.

At the end they have created a very insignificant difference in the resale price and their price if compared BSP wise.

As you have pointed out that there is no precedence in the market where it can be gauged, that buyers have paid the premium over the PLC.

If you see in IVV, effectively the difference between the company price and resale price is hardly over 1000 sqft , but if you include the PLC, the difference is more than 2000 Rs between company and the resale price.

Difference of Rs 1000 per appt means additional outlay of 24 Lakh for a 2400 sqft appt which is the min 3bhk size.

My question is, is the buyer ready to pay this premium to the company but not the the seller?

In this case he can pay 24L additional to seller to save additional outlay of 24L which would be the difference between the resale and company price.

Funny situation I guess. Its just like our Income Tax rule. To save 33k in a year, invest 1L under 80CC for tax saving.

I dont know how the market is responding to this quagmire of confusion.

RA.

Quote:
Originally Posted by Bikumatre View Post
.

This is the first instance when floorwise PLC are being charged , to a limited extent so does Tata Primanti but it is graded and not floorwise.
On the contrary newer and newer plcs are also being created, as i mentioned in GA it has increased from 2 originally to more than 8 . Hence there is not much of a precedent really in the past to judge wether market pays for these new additional PLCs even if in the original allotment it was not charged.

Theortically speaking that should happen as the effective price between resale ( on BSP ) and company price ( with all new plcs added ) increases day by day and that only helps the BSP of resale to go up, ofcourse i it would be largely dependent on the demand supply equation also.

However i believe once the original sales by builder are done , the market will creates a premium for real value adding PLCs over a period of time and rest all will congregate around the BSP , hence it is wise to choose real valued adding PLCs from an end user standpoint .

I am not sure how many other builders are trying out so many types of PLCs or will they become industry benchmarks in the future .

In the traditional market , the base price is what is the dominating factor with some premium for green facing units, that is my experience with sohna road properties . This assumes the house in the same state of maintenance and simillar work done inside.

for academic purpose the current different kind of PLCs in GA are as under. It will be interesting if others share details about other projects. :

Green (Zone 9 & 10)
Green (Zone 1, 2, 3, 4, 5, 11, 12, 13 & 14)
4 Side open
Corner
Club
Green & 4 Side open
Green & Corner
4 Side open & Club
4 Side open & Aravali facing
Green, 4 Side open & Aravali facing
Club, Green & 4 Side open

Thankfully for IVV it is still much simpler , though irrational ( primarily the floor based plcs )


a. Central Green - Mid-rise ( Rs 750 ) All floors

b. Central Green - Tower A,B ( Rs 750 )Floor 1st to 15th only and thus proving my point on lack of landscape visibility at greater heights )

c Central Green - Tower C ( Rs 750 ) for All floors

d. Penthouse - Tower A, B & Mid-rise (Rs 1000)

and finally the most crazy of them all


Tower A & B

Increases Rs. 50 psf per floor till 39th floor and Rs.100 psf per floor thereafter.
 
Old September 9 2012, 12:29 AM   #454
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I guess I paid on 300 rs as green facing PLC...

Completely confused now.

Quote:
Originally Posted by Bikumatre View Post
.


c Central Green - Tower C ( Rs 750 ) for All floors
 
Old September 9 2012, 12:31 AM   #455
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Bhalla Saab

What do you when the increase in the Price is only on PLC and not in BSP. Kindly revert to my post number "427".

Thanks

RA


Quote:
Originally Posted by amit.bhalla View Post
the deals only happen on BSP , whatever extra has been paid by the seller is paid to him in the same value....

but offlate I have heard that some brokers con buyers into paying the Late penalties also Case in point , Unitech Nirvana projects.....lol

and If your broker or seller is asking for something extra on PLC , He's trying to fleece you
 
Old September 9 2012, 12:47 AM   #456
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Hi everybody,

Some of us who do not have upto date info about IVV construction update might get some fresh information from the link below:

Ireo Victory Valley: Lifestyle Elevated | House in Gurgaon House for buy Luxurious Houses in Delhi Residential Apartments India

Cheers.
 
Old September 9 2012, 08:52 AM   #457
 
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Quote:
Originally Posted by rushilarora View Post
Dont you think that this is a smart play by IREO to counter the threat of loosing sales due to the difference in the resale price and their price.
Since most of the time BSP is the first level of comparison when selecting the project and also this is how market also quotes, IREO have smartly kept the movement in BSP very slow but increased the PLC discreetly.

At the end they have created a very insignificant difference in the resale price and their price if compared BSP wise.

As you have pointed out that there is no precedence in the market where it can be gauged, that buyers have paid the premium over the PLC.

If you see in IVV, effectively the difference between the company price and resale price is hardly over 1000 sqft , but if you include the PLC, the difference is more than 2000 Rs between company and the resale price.

Difference of Rs 1000 per appt means additional outlay of 24 Lakh for a 2400 sqft appt which is the min 3bhk size.

My question is, is the buyer ready to pay this premium to the company but not the the seller?

In this case he can pay 24L additional to seller to save additional outlay of 24L which would be the difference between the resale and company price.

Funny situation I guess. Its just like our Income Tax rule. To save 33k in a year, invest 1L under 80CC for tax saving.

I dont know how the market is responding to this quagmire of confusion.

RA.
Rushil Bhai,

Your point is taken but nowadays all of us are savvy enough to understand this . This is especially true for the myriad PLCs of GA . Wether you increase the bsp or charge indirectly through PLC, people only look at net outgo . So in my view it really does not matter except for the really value adding PLC.

The issue is totally different for IVV , where floor based PLCs is not beeing approved by anyone . That one single factor has prevented the BSP to fly like other project where it is not there. That is why ireo probably has learnt and not repeated again. They have minimized its impact by reducing the central green plcs above floor 15 to zero . This effectively reduces the discrepancy in pricing between lower and higher floors , an indirect acceptance of high floor plc by ireo.

On your question on Tower C PLC, the one i have quoted is the current one a month old price. so it appears they have increased the PLC.

So i agree over a period of time, when ireo has sold its inventory , the market will discern the value attached to each PLC and prices will settle around a mean. In my view the biggest beneficiaries will be Tower C & Mid rises as they do not have the PLCs of floor.
 
Old September 9 2012, 12:35 PM   #458
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Nice analysis Bikumatre and RA.
IREO seems to be experimenting with various pricing structures and see what gets accepted in the market.
I personally think IVV will really surge when completed as currently people cannot fathom the absurd PLCs but 3 years down the line once completed and most investors have vanished & IREO doesnt have any inventory left, prices will settle at some median like Bikumatre said. So you guys should hold onto it for very long, while I will procrastinate bit more on buying it
 
Old September 11 2012, 11:45 PM   #459
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Dear All,

I have just joined this forum, however, i have been following the discussion threads since some time. It has been very informative and so prompted me to join.

I need one suggestion from you guys. I am looking to buy a good property for end use. Some key criteria are:

1) 4 BHK + Servants Room
2) Budget - 2.5 to 3 cr
3) Possession - 2 to 3 years (earlier the better)
4) Maximum open spaces and greens
5) Adequate facilities like club, playgrounds etc. w.r.t the number of units
5) Good location (in terms of connectivity and neighborhood)
6) Reputed builder and quality product

I have zeroed down on Tata Primanti and Ireo Victory Valley. Which one would you recommend? Or if you have any other recommendations, please suggest.

Thanks in advance...
 
Old September 12 2012, 12:15 AM   #460
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You may consider Emaar Plam Drive..Sky Terraces. Good project with specs as you mentioned and will fit in your budget as well.

Posession expected in 1 year time. definately 95% cost + Premium goes upfront.
 
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