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IREO Uptown, IREO Developer, Sector 66, Gurgaon

Last updated: July 24 2017
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  • IREO Uptown, IREO Developer, Sector 66, Gurgaon

    Hi...i am looking for a 3BHK flat in IREO uptown. Can some one guide me on the current market price...have got differnt rates from differnt brokers. Thanks
    Last edited August 21 2012, 07:43 PM.
  • #2

    #2

    Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

    What price u were offered ? it was 5500+ as I remember on a very non serious call to their office sometime back....

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    • #3

      #3

      Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

      I have purchased a unit in Uptown. Have received buyer's agreement.The agreement is between Ireo Pvt Ltd ( Developer), myself and M/s Sue Pvt Ltd,M/s Sang Pvt Ltd,M/s Five rivers Pvt Ltd( the land owners). Is this a normal industry practice to have a different developing and land owning company from taxation perspective.
      Is my investment safe in such a scenario?

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      • #4

        #4

        Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

        Originally posted by Vicky100 View Post
        I have purchased a unit in Uptown. Have received buyer's agreement.The agreement is between Ireo Pvt Ltd ( Developer), myself and M/s Sue Pvt Ltd,M/s Sang Pvt Ltd,M/s Five rivers Pvt Ltd( the land owners). Is this a normal industry practice to have a different developing and land owning company from taxation perspective.
        Is my investment safe in such a scenario?

        this is fine .What happens is that instead of buying the land property developer goes into agreement with land owner and both parties reap the profit .

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        • #5

          #5

          Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

          What if there is a dispute between the land owning company and the developing comapny? Do senior members have any experience on this issue or am I panicking? What documents should I see to satisfy myself?

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          • #6

            #6

            Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

            Originally posted by Vicky100 View Post
            What if there is a dispute between the land owning company and the developing comapny? Do senior members have any experience on this issue or am I panicking? What documents should I see to satisfy myself?
            don"t worry -this is very common
            you will not be the only one who has booked the flat so there is no need to panic
            for your reassurance you can have look at emaar palm hills booking form -similar arrangement

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            • #7

              #7

              Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

              Originally posted by drrastogi731 View Post
              don"t worry -this is very common
              you will not be the only one who has booked the flat so there is no need to panic
              for your reassurance you can have look at emaar palm hills booking form -similar arrangement
              Thanks .This was reassuring

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              • #8

                #8

                Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

                drratogi731 : as u are an experienced person in gurgaon, can you please elaborate this situation for the benefit of many like Vicky100
                I have very less experience and have not encountered a situation like this.
                Who are these companies ?
                M/s Sue Pvt Ltd,
                M/s Sang Pvt Ltd,
                M/s Five rivers Pvt Ltd

                ????

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                • #9

                  #9

                  Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

                  Originally posted by RBBR_711 View Post
                  drratogi731 : as u are an experienced person in gurgaon, can you please elaborate this situation for the benefit of many like Vicky100
                  I have very less experience and have not encountered a situation like this.
                  Who are these companies ?
                  M/s Sue Pvt Ltd,
                  M/s Sang Pvt Ltd,
                  M/s Five rivers Pvt Ltd

                  ????
                  They r the original land owners.
                  Please read IREF rules | FAQ's

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                  • #10

                    #10

                    Re : IREO Uptown, IREO Developer, Sector 66, Gurgaon

                    Originally posted by RBBR_711 View Post
                    drratogi731 : as u are an experienced person in gurgaon, can you please elaborate this situation for the benefit of many like Vicky100
                    I have very less experience and have not encountered a situation like this.
                    Who are these companies ?
                    M/s Sue Pvt Ltd,
                    M/s Sang Pvt Ltd,
                    M/s Five rivers Pvt Ltd

                    ????
                    these are land owners who have registered the land as pvt company for taxation purposes and in case something happens to them then whole project does not get compromised
                    i I have not done any research on ireo but similar thing was there for palm hills --if you look at palm hills similar arrangement is there
                    3 pvt companies registered at same address and owned by same owner

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