Members!!!!

I have been looking to invest in a 2-3 Bhk since a couple of months now and more or less zero-ing on ireo sector 67a project ( although uptown, palm studio and victory valley are still on my radar) ... I request all knowledgable members ( especially the seniors and brokers in disguise of members) to comment upon the pros and cons of the project.

Also, I'd request other members planning to go for the project to get in touch with me, so that, we can look for a deal as a group rather than as multiple single parties .

As a start to the thread, let me list out a few pros and cons.

PROS

- New launch. Very little upfront payment.
- Specifications, better than basic, which are becoming a hallmark of ireo.
- location ( as per first information) looks to be good. Behind sector 67 or say
behind victory valley and PVSN
- other projects of the builder getting handsome appreciation and excellent
speed of all projects as of now ( cash crunch doesn't seem to be affecting the
So called FDI funded , politically funded as per grapevine, builder at all.

CONS

- yet undemarcated sector. Not in master plan 2021.
- builder, although very promising, hasn't delivered anything as yet
- specifications will be more along the lines of uptown ( which is available in
resale at 4800-4900 levels and has better location) and not very luxurious
Like grand arch,victory valley or skyon.
- although pricing is very speculative as of now but if it ends up 5k or more
Will be a disappointment ( like unitech south park).


I hope to hear from the other guys soon ....
;)





MODERATOR's NOTE - This thread was started about 18 months back, when this project was rumored to be getting launched . Due to delay in the launch this thread went into hibernation for some time and it is now alive . Newbies/First time users, please note & do not get misguided by the last year's launch price that stands mentioned . A duplicate thread { which stands closed now } has some updated information . Refer http://www.indianrealestateforum.com...7-a-46911.html .
Read more
Reply
1985 Replies
Sort by :Filter by :
  • Even if an investor manages the near impossible task of reselling at same price as IREO's launch price, the gain will be around 400 psf after paying the Transfer charges & Brokerage.

    I feel investors will need to hold for 12-18 months to see any decent gains here, the price currently is just too high, even when compared to IREO's own projects in better locations/better specs.

    Originally Posted by Varun83
    Hi Karan,
    Firstly, in my view, a gain of 650/- from a pre-launch to launch is a decent gain. The rates you quoted are for 2bhk so your gain would be in the range of 8.5 to 10 lacs. Now, if you are an end user and have concerns about the location, view etc. of your unit, then, in my view, you could have waited for the launch. But, in my very limited experience, if you are a part of condominium then location/view does not matter much considering the additional price you pay. Remember, in all likelihood, your preferred location would have a PLC, which itself would range from 4% to 10% in this project. I would rather put this additional 10% in a bigger size of apartment rather than a PLC, but thats a personal choice. PPl who enter in pre-launch are mostly investors.
    I am sure your agent would be passing on 2% margin to you, so your effective price is 9025 (8750-175+450)/- as against 9850. I think you should be happy you got a unit at a lesser price.
    CommentQuote
  • In my view, ppl who think of real estate as some grocery market to make a quick buck in a day deserves to get a exponentially high market beating on their investment...heck even under law a holding period (after possession of house) of less than 3 years is a short term. Investor who wish to operate as fly by night kind of dealer and make extremely high returns, would get a beating in this project - thats a given. Frankly, market does need to get rid of these kind of punters...
    CommentQuote
  • Originally Posted by Varun83
    Hi Karan,
    Firstly, in my view, a gain of 650/- from a pre-launch to launch is a decent gain. The rates you quoted are for 2bhk so your gain would be in the range of 8.5 to 10 lacs. Now, if you are an end user and have concerns about the location, view etc. of your unit, then, in my view, you could have waited for the launch. But, in my very limited experience, if you are a part of condominium then location/view does not matter much considering the additional price you pay. Remember, in all likelihood, your preferred location would have a PLC, which itself would range from 4% to 10% in this project. I would rather put this additional 10% in a bigger size of apartment rather than a PLC, but thats a personal choice. PPl who enter in pre-launch are mostly investors.
    I am sure your agent would be passing on 2% margin to you, so your effective price is 9025 (8750-175+450)/- as against 9850. I think you should be happy you got a unit at a lesser price.


    Would the new price of 9850 not have 2% discount too making the price 9653 or so.. why is it applicable only on prelaunch price of 8750..
    CommentQuote
  • yes it would if you book through a dealer...if you get the context of the discussion...karan was comparing the scenario of direct booking from Ireo where he would be able to pick a unit of his choice...i don't think it works in a scenario where one is booking from a broker...where it would be more of an imposed option...so the difference still stands...
    CommentQuote
  • @Varun83 - this is only a paper gain.. Try selling it in the market for only 100 more and you will not find any takers...

    Originally Posted by Varun83
    Hi Karan,
    Firstly, in my view, a gain of 650/- from a pre-launch to launch is a decent gain. The rates you quoted are for 2bhk so your gain would be in the range of 8.5 to 10 lacs. Now, if you are an end user and have concerns about the location, view etc. of your unit, then, in my view, you could have waited for the launch. But, in my very limited experience, if you are a part of condominium then location/view does not matter much considering the additional price you pay. Remember, in all likelihood, your preferred location would have a PLC, which itself would range from 4% to 10% in this project. I would rather put this additional 10% in a bigger size of apartment rather than a PLC, but thats a personal choice. PPl who enter in pre-launch are mostly investors.
    I am sure your agent would be passing on 2% margin to you, so your effective price is 9025 (8750-175+450)/- as against 9850. I think you should be happy you got a unit at a lesser price.


    Originally Posted by sh-saxena
    Even if an investor manages the near impossible task of reselling at same price as IREO's launch price, the gain will be around 400 psf after paying the Transfer charges & Brokerage.

    I feel investors will need to hold for 12-18 months to see any decent gains here, the price currently is just too high, even when compared to IREO's own projects in better locations/better specs.
    CommentQuote
  • lol...whos talking of selling...read the past few posts then you would understand whos talking what...the discussion was on buying in pre-launch or at launch...every1 has individual preferences in terms of investment...whether u agree or not, buying at 9025/- and not at 9850/- is infact a real gain of 800 bucks...i would have to spend 10 lacs less than a person who would have bought from Ireo after launch. period!
    CommentQuote
  • Originally Posted by Varun83
    lol...whos talking of selling...read the past few posts then you would understand whos talking what...the discussion was on buying in pre-launch or at launch...every1 has individual preferences in terms of investment...whether u agree or not, buying at 9025/- and not at 9850/- is infact a real gain of 800 bucks...i would have to spend 10 lacs less than a person who would have bought from Ireo after launch. period!


    Yes Bro. This the exactly the catch the builder had intended to get you in.. looks like they suceeded is selling something was say 20% inflated cost at a discount of what... 10 % so at the day you loose 10% and you think that you gained 10%.
    So happy customers and wealthy builder. Bro. Seriously just check out the resale prices in much better projects which are at a better location

    Sent from my GT-I9300 using Tapatalk 4
    CommentQuote
  • A lot is said about Location But isnt Golf road in a better location than Extn , And delhi a better loc than golf road ! If a project 1 km up or down on golf rd extension is a make it or break "proposition " in terms of just Location then TaTa Raisina has the best location on GRX @9k right next to " The Ireo city " and we all know what has happened to Tata with its supreme location advantage.
    And yes i will reiterate this project has the best specs on GRX .....High School , hospital , 2 acre club , sports complex , Everything sweetly built in
    BUT Just becoz the market has taken a dip and short term investors are trying to get out ..therefore no premium for the time being but it's just a matter of a few months once these poor souls are out ,, premium would be right back in !!
    CommentQuote
  • skyon also went thru the same lean patch ......But the location was better
    CommentQuote
  • Originally Posted by Norway
    A lot is said about Location But isnt Golf road in a better location than Extn , And delhi a better loc than golf road ! If a project 1 km up or down on golf rd extension is a make it or break "proposition " in terms of just Location then TaTa Raisina has the best location on GRX @9k right next to " The Ireo city " and we all know what has happened to Tata with its supreme location advantage.
    And yes i will reiterate this project has the best specs on GRX .....High School , hospital , 2 acre club , sports complex , Everything sweetly built in
    BUT Just becoz the market has taken a dip and short term investors are trying to get out ..therefore no premium for the time being but it's just a matter of a few months once these poor souls are out ,, premium would be right back in !!
    Golf road is a mix of all kind of buildings. No Sir, Golf Road is not the best location any more. Ext. would surpass is it. Even today, localities like South City-1 are superior in general with Kingdom of Dreams, Apu Gha, lavish greenery, proximity to malls and best of the hospitals.

    Which part of Delhi is superior to Golf Course?? Would it be 10/20% in geographical sense or 5/10% in terms of the habitants? If one leaves the Lutyens Delhi or Shantiniketan or the original golf course and a couple of more such places, how is Delhi better? It is debated and settled!

    And Sir, what has happened to Raisina? Shall be obliged to know as I am invested in the "best location" as rightly suggested by you. I think that the view from my balconies would always be unpolluted and the air would be fresher. Seriously, please do educate me.

    With kind regardsA lot is said about Location But isnt Golf road in a better location than Extn , And delhi a better loc than golf road ! If a project 1 km up or down on golf rd extension is a make it or break "proposition " in terms of just Location then TaTa Raisina has the best location on GRX @9k right next to " The Ireo city " and we all know what has happened to Tata with its supreme location advantage.
    And yes i will reiterate this project has the best specs on GRX .....High School , hospital , 2 acre club , sports complex , Everything sweetly built in
    BUT Just becoz the market has taken a dip and short term investors are trying to get out ..therefore no premium for the time being but it's just a matter of a few months once these poor souls are out ,, premium would be right back in !!
    Golf road is a mix of all kind of buildings. No Sir, Golf Road is not the best location any more. Ext. would surpass is it. Even today, localities like South City-1 are superior in general with Kingdom of Dreams, Apu Gha, lavish greenery, proximity to malls and best of the hospitals.

    Which part of Delhi is superior to Golf Course?? Would it be 10/20% in geographical sense or 5/10% in terms of the habitants? If one leaves the Lutyens Delhi or Shantiniketan or the original golf course and a couple of more such places, how is Delhi better? It is debated and settled!

    And Sir, what has happened to Raisina? Shall be obliged to know as I am invested in the "best location" as rightly suggested by you. I think that the view from my balconies would always be unpolluted and the air would be fresher. Seriously, please do educate me.

    With kind regards
    CommentQuote
  • Originally Posted by Adhikari
    Originally Posted by Norway
    A lot is said about Location But isnt Golf road in a better location than Extn , And delhi a better loc than golf road ! If a project 1 km up or down on golf rd extension is a make it or break "proposition " in terms of just Location then TaTa Raisina has the best location on GRX @9k right next to " The Ireo city " and we all know what has happened to Tata with its supreme location advantage.
    And yes i will reiterate this project has the best specs on GRX .....High School , hospital , 2 acre club , sports complex , Everything sweetly built in
    BUT Just becoz the market has taken a dip and short term investors are trying to get out ..therefore no premium for the time being but it's just a matter of a few months once these poor souls are out ,, premium would be right back in !!
    Golf road is a mix of all kind of buildings. No Sir, Golf Road is not the best location any more. Ext. would surpass is it. Even today, localities like South City-1 are superior in general with Kingdom of Dreams, Apu Gha, lavish greenery, proximity to malls and best of the hospitals.

    Which part of Delhi is superior to Golf Course?? Would it be 10/20% in geographical sense or 5/10% in terms of the habitants? If one leaves the Lutyens Delhi or Shantiniketan or the original golf course and a couple of more such places, how is Delhi better? It is debated and settled!

    And Sir, what has happened to Raisina? Shall be obliged to know as I am invested in the "best location" as rightly suggested by you. I think that the view from my balconies would always be unpolluted and the air would be fresher. Seriously, please do educate me.

    With kind regards


    Bhaisaab , I was just talking from "resale " point of view ! if you would read the previous few post it would be amply clear ,
    anyways cheers to you enjoying " the view from my balconies would always be unpolluted and the air would be fresher"

    With kind regards

    Bhaisaab , I was just talking from "resale " point of view ! if you would read the previous few post it would be amply clear ,
    anyways cheers to you enjoying " the view from my balconies would always be unpolluted and the air would be fresher"

    With kind regards
    CommentQuote
  • agree with you Norway there, another plus point I see is a relatively low cost of ownership at corridors than some of Ireo's other project purely on economies of scale.

    The proposed 215-acre university campus in Sec 68 and public utilities in sect 64 such as mini-secretariat, educational institutions, sports grounds etc as advertised by Ireo are further plus points...

    @aviral: I do not understand RE that well to make wise investments in resale market. But for me the macro indicators for a project should be attractive enuf to make investment and the reputation of the builder is a big factor for me. In resale I simply cant commit substantial lump sum capital in one go - its too high a risk. Agree with you that the price is inflated but its important to dissuade touch and go or flying type of investors to make a quick buck and vanish...they just kill the resale market for the medium term investors as well as the builder.
    CommentQuote
  • Originally Posted by Varun83
    agree with you Norway there, another plus point I see is a relatively low cost of ownership at corridors than some of Ireo's other project purely on economies of scale.
    The proposed 215-acre university campus in Sec 68 and public utilities in sect 64 such as mini-secretariat, educational institutions, sports grounds etc as advertised by Ireo are further plus points...

    @aviral: I do not understand RE that well to make wise investments in resale market. But for me the macro indicators for a project should be attractive enuf to make investment and the reputation of the builder is a big factor for me. In resale I simply cant commit substantial lumpsum capital in one go - its too high a risk. Agree with you that the price is inflated but its important to dissuade touch and go or flying type of investors to make a quick buck and vanish...they just kill the resale market for the medium term investors as well as the builder.

    @Varun83 , I understand your comments and in fact entering a project in the resale market is always more tough also more so because of the colored money component ... the builders know this. But what ever said and done, a long term investment is always good and will bear fruits.
    CommentQuote
  • Just got this message - DLF for the first time offers subvention plan in Skycourt. 15% now and rest on possession.....
    CommentQuote
  • Its not lower cost of ownership than IVV and Uptown and cost is same as Skyon.
    Its cost is less than probably only GA.

    I had done few calculations earlier :

    Uptown (Assuming BSP 8500,PLC 200 for Green facing)
    2BHK (1132)- 1.05 Cr, 2BHK (1225) - 1.15 Cr, 2BHK (1421) - 1.33 Cr
    3BHK (1670)- 1.5 Cr, 3BHK (1815) - 1.7 Cr
    4BHK(2012) - 1.88 Cr

    IVV (Assuming BSP 8500,PLC 250)
    2BHK Tower C (1435) - 1.35Cr
    3BHK Midrise (2500)- 2.4 Cr, 3BHK Tower C(2385) - 2.26 Cr
    4BHK Midrise(2824) - 2.7 Cr

    Corridors
    2BHK (1296)- 1.4 Cr, 2BHK(1484)-1.62 (Assuming BSP 9850, PLC 700 Medium Green)
    3BHK (1727)- 1.92 Cr, 3BHK(1852)-2.06 Cr, 3BHK+Study(2416)-2.7 Cr (Assuming BSP 10050, PLC 700)
    4BHK (2740)- 3.05 Cr (Assuming BSP 10400, PLC 700)
    Escalation clause in addition to above.


    Originally Posted by Varun83
    agree with you Norway there, another plus point I see is a relatively low cost of ownership at corridors than some of Ireo's other project purely on economies of scale.

    CommentQuote