Am getting a quote of Rs.6,500 psf for a Wing apartment in Ireo Grand Arch on re-sale. Would appreciate advice from members (particularly, senior ones) on whether I should buy at this price or wait for a few months in anticipation of a correction. Even if there was no correction, I would save on my EMI for those many months, as long as the price stagnates at this level. Also, for info, Ireo has recently jacked up the price for the Wings to Rs.9,000 psf.
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  • The original BSP & the resale price has a massive differential . R u sure on the resale price ?
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  • From what i know grand arch is fully sold out, so how can tgey jack up prices ??
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  • Ishan, I was talking to some Sr person at Ireo few weeks ago about VV project. The info I got from him/her is that, they never sell the full stock until the completion of the project. They keep at least 15% stock of the units till last so that they can keep increasing the prices and if some one is interested they can sell the unit. If they don't keep the stock and increase the price then somebody might complain or spread rumor in the market that company doesn't have unit but still increasing the prices so price increase in this case is not real.
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  • good you were in paris but Le Grand arche is just a monument and the only similarity with ireo woud be the shape:):)
    but yes may be the symbolic grandeur....

    Originally Posted by Yamban
    Saw the real Grand Arch in Paris last week..... If IREO delivers half of that grandeur, it will be a true landmark- even if it's only a poor replica
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  • MANOJa - yes, I'm sure of the resale price and am also aware that its original launch price in Sep'09 was 4,850 psf for the Wings and 4,550 psf for the other towers. But given the prices of subsequent launches (M3M, skyon, etc.) in the immediate vicinity and Tata Raisinia resale price at around 6,500 psf currently, not sure if I should wait for a correction.

    Ishan - from what I could gather, only about 60% of Grand Arch has been released by Ireo and those have been 'fully' sold out, with the exception of the recent release. The remaining units will be released in tranches over a period of time until possession with step increases in prices at each release.

    All - Would welcome advice on whether I should take the 6,500 psf offer now or wait. Thanks.
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  • prices will go down in luxury segment

    For sure , prices will go down in coming months specially in luxury segment . Better keep away from buying in this segment..
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  • Yes, quite right, prices of at least, Luxury segment would definitely go down . I expect an overall correction, in all segments, but the luxury projects could take the worst hit .
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  • though i dont believe in correction coming soon, i hope it comes for a correction will bring some sanity to the otherwise heated new launch luxury segment market...

    i cant understand that when all ready/almost ready to move project on sohna rd( even 1 yr delivery like palm terraces/park view spa) are available at 5500-6500 band how come new launches with 3/4 year delivery are at 7500-11,000 bracket.

    even the top end appt like belaire/park place are available at 82/8300 rs having the best location( 1 year delivery) and pinnacle/summit/icon are at 9000-10000 range...

    defies logic....

    Originally Posted by MANOJa
    Yes, quite right, prices of at least, Luxury segment would definitely go down . I expect an overall correction, in all segments, but the luxury projects could take the worst hit .
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  • Originally Posted by AmitMM
    though i dont believe in correction coming soon, i hope it comes for a correction will bring some sanity to the otherwise heated new launch luxury segment market...
    i cant understand that when all ready/almost ready to move project on sohna rd( even 1 yr delivery like palm terraces/park view spa) are available at 5500-6500 band how come new launches with 3/4 year delivery are at 7500-11,000 bracket.

    even the top end appt like belaire/park place are available at 82/8300 rs having the best location( 1 year delivery) and pinnacle/summit/icon are at 9000-10000 range...
    defies logic....


    I think people who really have budget for luxury segment and looking for almost ready apartments are definitely buying in resale. But people like me who can think of the same budget in next 4 to 5 years time frame are buying in fresh booking so they don't need pay too much up front.
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  • Its simple logic.Fuel prices goes up, prices of each and every commodity goes up which also includes steel,rubber,plastic,cement everything.I beleive prices are on the higher side but have skyrocketed after severe inflation in recent past and to which it is still not under control.
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  • Am looking to buy 3 or 4 bed unit in Grand Arch. If anyone interested in selling their unit, please let me know. Many thanks.
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  • Hi J30469,

    I just read the entire thread and I am surprised You didn't buy GA in Feb this year... One of my friend sold his apartment at 7300 two weeks back...
    What I gather from this thread is that the prices of GA has gone up by approx 800-1000 psqft in last 5 months... This is just insane...

    Are these prices correct ?



    Originally Posted by j30469
    Am looking to buy 3 or 4 bed unit in Grand Arch. If anyone interested in selling their unit, please let me know. Many thanks.
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  • Yes, I think the price you quote is probably correct.

    I was one of those newbie on the forum then and probably took the views expressed in this forum, particularly the ones on the 'imminent' correction a little too seriously and have paid the price by not getting onto the market early this year.

    Some people learn the lesson the hard way and I'm one of them.

    My take on Gurgaon RE market is that there is no such thing called correction here and all economic theories and other intellectual discussions that take place in this forum do not apply to this market, for whatever reason. So, if you like a property in Gurgaon, it's never too early to buy!
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  • whoooo......... that has come straight from the heart!!!!!!!

    on a serious note another example of what i have been maintaining....

    correction is no where in sight and if and when it comes it would largely be meaningless for ppl currently in the market.......



    I was one of those newbie on the forum then and probably took the views expressed in this forum, particularly the ones on the 'imminent' correction a little too seriously and have paid the price by not getting onto the market early this year.

    Some people learn the lesson the hard way and I'm one of them.

    My take on Gurgaon RE market is that there is no such thing called correction here and all economic theories and other intellectual discussions that take place in this forum do not apply to this market, for whatever reason. So, if you like a property in Gurgaon, it's never too early to buy
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  • since i wrote it the prices have moved to 72-7300 for spa belaire to 10,000, park place to 8800-9000 and icon summit 10,000 plus and pinnacle touching 11,000....


    Originally Posted by AmitMM
    though i dont believe in correction coming soon, i hope it comes for a correction will bring some sanity to the otherwise heated new launch luxury segment market...
    i cant understand that when all ready/almost ready to move project on sohna rd( even 1 yr delivery like palm terraces/park view spa) are available at 5500-6500 band how come new launches with 3/4 year delivery are at 7500-11,000 bracket.

    even the top end appt like belaire/park place are available at 82/8300 rs having the best location( 1 year delivery) and pinnacle/summit/icon are at 9000-10000 range...
    defies logic....
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