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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

    Originally posted by Sagar cool View Post
    So much negative abt the project. I hve given a cheque still not banked but broker saying it will ne banked after tat credit clearance . In next 2 days maybe. Im only lpgoing to make 20 to 25 percent payment and looking for investment return of about 300 rs. Should i stop d cheque. Or there is good possibility of return here.
    300 Rs on a unit size of ?

    Is the 1st transfer free ? What about brokerage and short term capital gain ?

    Even if you decide to take the premium in cash then is the hassle worth ?

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

      Originally posted by Sagar cool View Post
      So much negative abt the project. I hve given a cheque still not banked but broker saying it will ne banked after tat credit clearance . In next 2 days maybe. Im only lpgoing to make 20 to 25 percent payment and looking for investment return of about 300 rs. Should i stop d cheque. Or there is good possibility of return here.
      First transfer is not free. Ireo have 30% locking period so you would be required to pay 30% before you can dispose off. you deduct atleast 200 Rupees (for transfer and broker commission ) and interest part of your deposited money.
      Last edited March 12 2013, 06:12 PM.

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

        I have same view too...

        For a 2BHK (1296 sqft), as per my calculations, you would need to pay up about 24 Lakhs in the first 45 days. Then if you are able sell at 300 Rs gain after that, your premium is around 3.8 Lakhs out of which you need to pay brokerage (which works out as 1.3 Lakhs if assumed at 1%) and the transfer charges to IREO (assume Rs 100/psf) so another 1.3 Lakhs, so net premium would be just 1.2 Lakhs and have not even considered the interest cost here.

        Not worth the headache and the risk if such short term view.

        Originally posted by Sagar cool View Post
        So much negative abt the project. I hve given a cheque still not banked but broker saying it will ne banked after tat credit clearance . In next 2 days maybe. Im only lpgoing to make 20 to 25 percent payment and looking for investment return of about 300 rs. Should i stop d cheque. Or there is good possibility of return here.
        Last edited March 12 2013, 07:17 PM.

        Comment


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

          20-25% payment and then exit ? Forget Corridoors, pick any project and it's a gamble at best. I would keep money in the bank.

          Picked a unit here myself though, very proud, and in for the long haul! Don't care about short term but will ultimately win with patience.

          I know folks talk about resale being better option. Of course, it will always be, but with much more capital outlay. You could buy VV ~8500 but think about shelling out 1.5-2 CR, then calculate the ROI. Not saying resale is not a good option vs. new launch, but solely based on price it's comparing apples and oranges.

          At the end of the day, it's courage, luck, and of course fricking economics. I am not smart enough to time the market. All I know is to keep the leverage low, pick good location and builder, think longer term, and enjoy the ride!

          POV is mine, constructive criticism is always welcome so I can continue to learn

          Good luck to all



          Originally posted by Sagar cool View Post
          So much negative abt the project. I hve given a cheque still not banked but broker saying it will ne banked after tat credit clearance . In next 2 days maybe. Im only lpgoing to make 20 to 25 percent payment and looking for investment return of about 300 rs. Should i stop d cheque. Or there is good possibility of return here.

          Comment


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

            Awsome!!

            Originally posted by hesitant_buyer View Post
            20-25% payment and then exit ? Forget Corridoors, pick any project and it's a gamble at best. I would keep money in the bank.

            Picked a unit here myself though, very proud, and in for the long haul! Don't care about short term but will ultimately win with patience.

            I know folks talk about resale being better option. Of course, it will always be, but with much more capital outlay. You could buy VV ~8500 but think about shelling out 1.5-2 CR, then calculate the ROI. Not saying resale is not a good option vs. new launch, but solely based on price it's comparing apples and oranges.

            At the end of the day, it's courage, luck, and of course fricking economics. I am not smart enough to time the market. All I know is to keep the leverage low, pick good location and builder, think longer term, and enjoy the ride!

            POV is mine, constructive criticism is always welcome so I can continue to learn

            Good luck to all

            Comment


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

              Just to update everyone, I have stopped my cheque. I did get a call from IREO sales team and have to say that was quite impressed with the way the person handled my arguments. A few points for people who are planning to invest:

              1) The escalation percentage that was left blank in the 21 page form, is now filled up in the new form. He said he will let me know by phone when I brought up the issue.

              2) He mentioned that the escalation clause is now industry standard and all builders will have it in future.

              3) On the price, he mentioned that for the location, it is much more cost effective than most other new launches and the value will continue to appreciate. (I took it with a pinch of salt. He was a good salesman)

              On the whole, I came out much more positive opinion of IREO after the conversation.

              Note: These are just my opinions and may not be relevant to all. Do not wish to get into any argument or justify any of the above points.

              Comment


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

                Capital outlay and ROI...

                music to my ears...

                ps. waltz, not the jungle beat...

                Originally posted by hesitant_buyer View Post
                20-25% payment and then exit ? Forget Corridoors, pick any project and it's a gamble at best. I would keep money in the bank.

                Picked a unit here myself though, very proud, and in for the long haul! Don't care about short term but will ultimately win with patience.

                I know folks talk about resale being better option. Of course, it will always be, but with much more capital outlay. You could buy VV ~8500 but think about shelling out 1.5-2 CR, then calculate the ROI. Not saying resale is not a good option vs. new launch, but solely based on price it's comparing apples and oranges.

                At the end of the day, it's courage, luck, and of course fricking economics. I am not smart enough to time the market. All I know is to keep the leverage low, pick good location and builder, think longer term, and enjoy the ride!

                POV is mine, constructive criticism is always welcome so I can continue to learn

                Good luck to all
                I sell my Talent to your Reason...

                Comment


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

                  has anyone got the opportunity to have a look at the site plan??? I heard that they have shared it with some brokers.. only hard copy!! BTW when are they going to announce this project formally??

                  Comment


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

                    Golu sir... can u name a single developer who is ethical in Gurgaon... (barring TATA.) i mean this is how things are in ggn real estate...IREO is still one of the best developers despite all its shortcomings.. so far they have done exceptionally well considering the fact that they have started their operations only few years ago...

                    Comment


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

                      Mahindra as well

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