Excerpts from a broker mail -


I have this exciting pre-launch of IREO Sky On in Gurgaon. The project
comes out on Feb 5th at Rs. 7500/sq.ft for 2BHK flat.

The location of the project is just adjacent to the Golf Course Road,
close to the Metro line extension with quick and easy connectivity to
Delhi airport and NCR.

Ireo Sky On will be overlooking the Golf Park and is spread over 18
acres and will be beautifully landscaped. It will have unique
architecture and use of high technology like RFID and other
sophisticated devices.

Minimum size available is 1324 sq. ft. for 2 BHK.
Basic cost is Rs. 7000 per sq. ft. for 2 BHK
Basic cost is Rs. 7200/sq.ft for 4BHK

Booking amount for two 2BHK is 10 lacs
Booking amount for 3 & 4 BHK is Rs. 15 lacs.

Ireo will launch the project at Rs.7500/sq.ft on Feb 5.
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  • IREO LAUNCHES SKYON IN SECTOR 60

    IREO launches Skyon in Sector 60 with grand opening with yet another excellent positioning with brilliant advertisements in HT and TOI.

    2/3 BHK : 7500/sq ft
    4 BHK ( Iconic 39 Storey Tower ) : 7700/sq ft
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  • Need honest opinion from forum members - looking for an apartment for self-use but ready to wait till 2014. Considering the location and premium quality, is this project worth paying 7500 per sq ft BSP + 350 PLC today? I have a long term view. If not, please suggest equivalent / alternative options, preferably on GCX. For this new Ireo project, total cost including 2 parkings works out to be around 1.75 CR for 2045 sq ft 3 BHK on construction linked payment plan.
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  • I would be wary of buying at such a high price from a new builder. They are yet to show anything to form a opinion other than glossy brochures.

    If you have such a bugdet would suggest to look a completed flat from Unitech or DLF. At 8500-9000 you can get very good luxury options.
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  • I agree with Sandelhi.And also if you need to buy from Ireo, go for VV which is going to be their best product and you could get this one in lesser price than 1.75 Cr. I bought 2500 sqft unit for less than this budget. Good luck. In my opinion, Skyon is too much hyped and over priced.
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  • skyon sold at 6500 and 7000 in prelaunch....

    if you have the budget check out harmony ... it still has some units in original booking....bsp 5700....will fall in the same price... even soverign in vatika city... again original allotment....


    Originally Posted by Ashish+
    Need honest opinion from forum members - looking for an apartment for self-use but ready to wait till 2014. Considering the location and premium quality, is this project worth paying 7500 per sq ft BSP + 350 PLC today? I have a long term view. If not, please suggest equivalent / alternative options, preferably on GCX. For this new Ireo project, total cost including 2 parkings works out to be around 1.75 CR for 2045 sq ft 3 BHK on construction linked payment plan.
    CommentQuote
  • Thanks guys for your inputs so far - Unitech Harmony option sounds good at a lesser price and less risk since building structure is almost ready. Checked on IREO VV - they charge more as you go for higher floors which means price advantage for IREO VV is not too much compared to Skyon. Excavation work is progress for IREO VV so risk of delivery remains. Plus it seems IREO revised the prices of their existing projects last month just to make Skyon option look less costly.

    I wanted to hear about better alternatives rather than polished marketing talk from brokers and the company - find this forum really useful.

    More thoughts / opinions are welcome. IREO's marketing is impressive though. They hired Larsen & Toubro to build Grand Arch project. Did some research over Internet - must say being private equity fund, IREO has advantage of cash today - they have USD 500 million of cash, 3000 acres of land bank all over India with 600 acres in Gurgaon (Ireo City) and they claim to be zero-debt company with investor base like JP Morgan and internationally famous sports personalities.

    Impressive to hear all this but it appears there is too much hype on IREO and some of their projects recently. What to esteemed members of forum think about IREO ? Specifically is their Skyon project over-hyped ?
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  • IREO per se has the right credentials....the approach to projects,funding, layouts, CRM, even contractor selection has been decent... hope they continue like this...
    regarding the hype its the marketing blitz around the "tallest tower" claim and " i pad controlled houses" features...

    the offeings are good if you are ok with the prices...


    Originally Posted by Ashish+
    Thanks guys for your inputs so far - Unitech Harmony option sounds good at a lesser price and less risk since building structure is almost ready. Checked on IREO VV - they charge more as you go for higher floors which means price advantage for IREO VV is not too much compared to Skyon. Excavation work is progress for IREO VV so risk of delivery remains. Plus it seems IREO revised the prices of their existing projects last month just to make Skyon option look less costly.

    I wanted to hear about better alternatives rather than polished marketing talk from brokers and the company - find this forum really useful.

    More thoughts / opinions are welcome. IREO's marketing is impressive though. They hired Larsen & Toubro to build Grand Arch project. Did some research over Internet - must say being private equity fund, IREO has advantage of cash today - they have USD 500 million of cash, 3000 acres of land bank all over India with 600 acres in Gurgaon (Ireo City) and they claim to be zero-debt company with investor base like JP Morgan and internationally famous sports personalities.

    Impressive to hear all this but it appears there is too much hype on IREO and some of their projects recently. What to esteemed members of forum think about IREO ? Specifically is their Skyon project over-hyped ?
    CommentQuote
  • In GCX road IREO is a bigger player. If u see GGN RE market there used 2 be 2 big players

    a) DLF
    b) Unitech

    DLF has not launched many projects in GGN recently. Ofcourse they have launched one plotted township recently.

    Unitech has launched TOO many projects in GGN recently but whether Unitech will able to deliver those projects or not as per promised, it is a big question.

    So RE market was looking for another developer and IREO seems to fulfill that space. That's y IREO is launching each projects with different USPs.
    If things go well then IREO will be no 1 developer in GGN RE market.

    These are just my personal views. Things can go wrong also.



    Originally Posted by AmitMM
    IREO per se has the right credentials....the approach to projects,funding, layouts, CRM, even contractor selection has been decent... hope they continue like this...
    regarding the hype its the marketing blitz around the "tallest tower" claim and " i pad controlled houses" features...

    the offeings are good if you are ok with the prices...
    CommentQuote
  • in time to come u ll see there are three major players on Gc ex with huge landbanks-
    that are IREO , M3M and Emaar Mgf .
    The entire land to IREO and Emaar Mgf on Gc ex has been aggregated by basant bansal(owner M3M)

    IREO yes is in a very good league as of now !!
    BUT Skyon is overpriced by about 2 to 2.5 k psf !!!
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  • Any Co.for that matter is known how it position itself in the minds of the consumer and if the brand recall is high that further leads to a polished brand with equity in the market.

    IREO has engaged one of the best marketing and advertising team that i know,yes Mccan Erricson,one of the top advertising Co. in the world who is responsible for creative as well media tasks and seeing such neat work is truly appreciated in the cluttered and unorganised RE sector.

    With time,IREO has carved a niche for itself by launching every project with unique USP and has an excellent drive that has lead to instant booking of every project they have launched.Be it VV,Grand Arch or Skyon.

    I beleive,this Co truly has a vision , no doubt within few days of their launched projects,units are picked up like hot cakes by people without any apprehensions.

    I think this is only a consequence of how they have positioned its brand in RE sector and is competing with DLF.
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  • vineet Bhai, very well written . U can take to writing as a profession too . :bab (6)::bab (56):
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  • Thanks..Manoj
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  • Can anyone tell me the resale prices for Ireo Skyon for I have a 2bhk apartment... 1365 sq ft in Tower A on floor B
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  • 7250-7500 .... depending on the size,location and desperation of the seller.


    Originally Posted by pearl32
    Can anyone tell me the resale prices for Ireo Skyon for I have a 2bhk apartment... 1365 sq ft in Tower A on floor B
    CommentQuote
  • It's been 1 year and 3 fat instalments are already gone.Resale rate of 2 bhk was 7600 till 1st week of november.Now they say correction has made rates to nose dive,this is crazy.Looking at the market dynamics and inflation,i feel the resale rate applicable for 2 bhk should not be less than 7600.
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