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The Corridors by IREO Developers in Sector 67A, Gurgaon

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The Corridors by IREO Developers in Sector 67A, Gurgaon

Last updated: January 12 2021
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  • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

    I am very positive about this project , in this business it's all about reputation & looking at their past record & knowing they have 700 acres more to sell , they aren't going to screw every thing up for 40 acres, my POV ..am happy with my unit

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    • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

      Originally posted by Norway View Post
      I am very positive about this project , in this business it's all about reputation & looking at their past record & knowing they have 700 acres more to sell , they aren't going to screw every thing up for 40 acres, my POV ..am happy with my unit

      GIVE THIS A THOUGHT

      After tremendous success of the grand arch, Victory valley & skyon, Ireo brings the luxury residential complex in sector 67a, Gurgaon, 1 km from golf course extension road.
      Cohesive urban design to include roads, Street furniture, Street lighting, Paving and signage.
      Ireo as a renowned builder has already constructed so many residential and commercial projects in gurgaon and other cities. After successful completion of all its residential and commercial projects in different cities, Ireo is now coming up with its new residential project in gurgaon, "ireo the corridors", In sector-67a, Gurgaon. This housing project i.E. "ireo the corridors" is offering 2 to 4 bedroom apartments which will be available for sale and to let out. This new project of ireo is offering luxurious lifestyle with world class facilities that one can experience a new level of living with peace and with the feelings of living in nature. Facilities like green area, Park, Swimming pool, Tennis court, Gym and yoga centre, Tracking and jogging track, Shopping centre etc. Are some facilities which are offered inside this residential complex i.E. "ireo the corridors". Other amazing facilities like answering the front door, Adjusting the curtains, Pre-Scheduling electrical gadgets, Setting the safety alerts etc. Are offered with all its housing units of "ireo new project the corridors". The other important feature which is offered by "ireo the corridors" is to tie together the best technology to control home, Offering all the best solutions for a selection of everyday needs. Ireo is offering all facilities to make its all housing units and residential complex as highly in demand and ready for future demand.

      Comment


      • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

        Can you share details of escalation clause?

        Originally posted by Norway View Post
        I am very positive about this project , in this business it's all about reputation & looking at their past record & knowing they have 700 acres more to sell , they aren't going to screw every thing up for 40 acres, my POV ..am happy with my unit

        Comment


        • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

          The clause was reproduced by manoj2066 earlier on -


          Originally posted by manoj2066 View Post
          Here is the exact clause:

          10. The Applicant understands and agrees that the Basic Sale Price of the said Apartment has been calculated based on the prevailing purchase rates of raw materials and input costs including all services at the time of original booking (‘Input Costs’). The escalation, if any, in the Input Costs, on the expiry of the Grace Period or the handing over of possession of the said Apartment, whichever occurs earlier (‘Chargeable Period’), to the extent of ___% thereof shall be absorbed by the Company and balance shall be paid by the Applicant. Furthermore, such escalation shall be charged on such percentage of the Basic Sale Price, being the deemed Input Costs to the Company, as assessed by the Company at quarterly intervals. As on the date of this Agreement, the Input Costs shall be deemed to be ____% of the Basic Sale Price (“Chargeable Escalation”).

          The benchmark of determining the escalation in the Input Costs shall be the Wholesale Price Index derived from the monthly indexed rates for ‘All Commodities’ published on the website of the Economic Advisor to the Government of India, Ministry of Commerce and Industry at “http;//eaindustry.nic.in” (”WPI”). The escalation in the Input Costs shall be calculated as the difference between the published WPI for the month in which the original booking for the said Apartment is made (”Base WPI”) and the WPI for the last month of the Chargeable Period (”Escalated WPI”). The Applicant shall be liable to pay the Chargeable Escalation on demand by the Company, in accordance with the super area of the Apartment, irrespective of its Payment Plan.

          The Applicant agrees that if at any point during the Chargeable Period the Government of India stops publishing the WPI due to any reason(s), the Base WPI as well as the Escalated WPI shall be derived from alternative indexed rates published by the Government of India or any national institute of repute.
          Originally posted by connectanuj View Post
          Can you share details of escalation clause?
          Please read IREF rules | FAQ's

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          • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

            Originally posted by MANOJa View Post
            The clause was reproduced by manoj2066 earlier on -
            Very cleverly drafted clause leaving everything fluid.
            The % absorption, the % of base price used for calculation are left blank. Also the components of the cost / heads of the construction or input costs not mentioned.

            This is a dangerous clause. One must ask the current breakup of costs estimated to arrive at BSP to understand what all are considered to establish the base price.

            Comment


            • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

              yaa... DLF atleast filled in those blanks in the application form itself.

              Originally posted by krishna99 View Post
              Very cleverly drafted clause leaving everything fluid.
              The % absorption, the % of base price used for calculation are left blank. Also the components of the cost / heads of the construction or input costs not mentioned.

              This is a dangerous clause. One must ask the current breakup of costs estimated to arrive at BSP to understand what all are considered to establish the base price.

              Comment


              • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                Well the whole agreement had lot of blanks

                Thanks

                Originally posted by connectanuj View Post
                yaa... DLF atleast filled in those blanks in the application form itself.

                Comment


                • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                  Hi

                  I am getting call from my broker that he still can provide the allotment in this project at opening price i.e. 8750 . Seniors, please advice, is it worth going into this after seeing not such a good response from many of the so called investors or end users ..

                  Is it really the kind of fire which should be avoided at any cost else there is a big danger of being getting burnt in future..

                  All your expert guidance will deeply be appreciated..

                  cheers
                  newjoinee

                  Comment


                  • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                    Originally posted by krishna99 View Post
                    Very cleverly drafted clause leaving everything fluid.
                    The % absorption, the % of base price used for calculation are left blank. Also the components of the cost / heads of the construction or input costs not mentioned.

                    This is a dangerous clause. One must ask the current breakup of costs estimated to arrive at BSP to understand what all are considered to establish the base price.
                    Totally agree . Very clever of Ireo . If they want to misuse this, they can do it pretty easily . It is open to interpretation .
                    Please read IREF rules | FAQ's

                    Comment


                    • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                      Originally posted by manoj2066 View Post
                      Well the whole agreement had lot of blanks

                      Thanks
                      this act can only be done by a highly unprofessional set up ...what happened to all the Ga - Ga over Ireo 'clean work ethics', customer centric nature etc etc!!

                      Application form is 21 pages...but most critical information for customers has been left blank?

                      Ireo is wearing a veil...hiding his real greedy nature but now that has started to come off!!

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