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 .
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  • That means, one can enter this project at launch price same time next year also?

    Originally Posted by Lazybell
    The precedents you refer to were cases which were cleared by seac and rejected by seiaa, whereas this case is different. It has been rejected by seac itself, never sent to seiaa.

    The clock has been set back quite a bit. Report was submitted by Ireo to seac in April, resubmission can not now happen before Jan 14 and then Ireo reaches where it was in apr this year and the sarkari machine will start the chhakars that will laboriously produce the EC at some time.
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  • Originally Posted by Lazybell
    The precedents you refer to were cases which were cleared by seac and rejected by seiaa, whereas this case is different. It has been rejected by seac itself, never sent to seiaa.

    The clock has been set back quite a bit. Report was submitted by Ireo to seac in April, resubmission can not now happen before Jan 14 and then Ireo reaches where it was in apr this year and the sarkari machine will start the chhakars that will laboriously produce the EC at some time.


    If that is true then you may be correct, depending on intention of ireo :). which minutes was it , if you mind sharing :)
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  • Originally Posted by rushilarora
    Let me put some twist to the tale. Ireo had initially done allotment of 900 units approx and since they got good response they extended the allotment to approx 1150 units. Now all these allotments were done basis the cheques received and CIBIL check done. I am not sure how many did the stop payment later or whose cheque bounced. But this is the figure I got to know that point of time. I would not harp on about my connections on IREO (Which I dont have actually) but since every one is putting a figure, I thought of sharing mine.

    So far I have been right about the info I got on the projects I track... May be this time someone tells me "Mate your GOOD times are over"... You are Wrong this time.

    RA.


    Rushil ji,

    same info, close to 1200 units were also quoted to me but 635 units came from a more reliable source.
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  • Oh god , do not want to go on the route again, I can speak for what I know and I never said they are saints , they are as good or as bad as any builder, but have come about with some good things , so it is slightly better than others

    added more floor: ie changed plans midway
    which project you are referring to , understand they did in uptown and ivv , in both the case they added extra land, which enabled them more fsa . I do not know about others.

    - collected excavation money before EC (i think it was in Skyon) .. advance apology if i have got it wrong on this
    that someone from skyon can answer , not the case with ga atleast :)

    - forced buyers to pay extra charges for some glossy work which one may not prefer

    infrastructure upgrade charges , you had the option not to go for it atleast in case of GA . Uptown sh saxena or anyone else can add, no such demand yet on IVV , maybe possible .

    - delayed Grand Arch (would be possibly delayed by 2 years including grace period before it is delivered in full)

    can you give the dates and am sure you will realize it is not correct. with 6 month period it should have been June 2012 ( as per my bba ) , so 2 years from there means June 2014 . so till they give possession I cannot be sure , but they are saying right now to be Q4 12 / Q1 13 , which means 6 months to 9 months . even that is not okay for me .

    - differential system of extra charges (my neighbor would have paid more/less PLC than me

    your neighbor can pay more plc or more bsp in any project , depending on when they buy. so I do not know what is wrong with that unless they were forced to buy . It would have been wrong if one is promised a plc and then it is increased

    - launched projects at 8750 in pre launch and later on hiked the BSP by adding parking on whatever

    again you are referring to corridor, and I cannot comment on that and I have been panning it always :).

    they have an escrow account...thats fine..but would you ensure that they would not raise another 10% on excavation (without getting EC that is) and such the blood of already beleaguered investor in corridors

    I agree if they raise any illegal demands people should come and take them to task , that is what this forum is to share experiences

    and I am fine with most of your other observations :).

    again you have misunderstood my point , lazybell has clarified some of the thing , if what he says is correct , then it may take more time. But if what he says is not correct then just like other cases , it can be done much before, as it is an explanation of process. If you want more info, please see the greenopolis thread to know how it was done .


    Originally Posted by aabansal
    you are again being unreasonable..do you think IREO would start collecting fresh data from the very next day..or even if they do so..would SEIAA meet the very next day IREO completes its 90 day data collection..please see if from an outsider pov which you always does and I have always appreciated your view point as one of the most unbiased ones..

    ...
    ..
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  • Kindly see this point. May be there is a typo error

    Originally Posted by kinjalchato


    can you give the dates and am sure you will realize it is not correct. with 6 month period it should have been June 2012 ( as per my bba ) , so 2 years from there means June 2014 . so till they give possession I cannot be sure , but they are saying right now to be Q4 12 / Q1 13 , which means 6 months to 9 months . even that is not okay for me .
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  • I am sorry sir bt ur answers are more like a politician..you are literally encyclopedia of Ireo and i m sure many learned people here wud vouch for that and still you chose to answer facts on GA and for rest you just said that might hav hapened..nice try once again to defend your idol..well everything is correct as per law but we are talking abt ethics and now law


    Whatever every goon builder doing is mostly as per law so again everybody is at same page
    You shudnt hav commented on corridor if you now say tht you hav decisive knowledge only about GA

    Also i can send you official quote by ireo top management on project launch that GA would be delivered by end 2012..let me know if u r not able to locate the link

    Originally Posted by kinjalchato
    Oh god , do not want to go on the route again, I can speak for what I know and I never said they are saints , they are as good or as bad as any builder, but have come about with some good things , so it is slightly better than others

    added more floor: ie changed plans midway
    which project you are referring to , understand they did in uptown and ivv , in both the case they added extra land, which enabled them more fsa . I do not know about others.

    - collected excavation money before EC (i think it was in Skyon) .. advance apology if i have got it wrong on this
    that someone from skyon can answer , not the case with ga atleast :)

    - forced buyers to pay extra charges for some glossy work which one may not prefer

    infrastructure upgrade charges , you had the option not to go for it atleast in case of GA . Uptown sh saxena or anyone else can add, no such demand yet on IVV , maybe possible .

    - delayed Grand Arch (would be possibly delayed by 2 years including grace period before it is delivered in full)

    can you give the dates and am sure you will realize it is not correct. with 6 month period it should have been June 2012 ( as per my bba ) , so 2 years from there means June 2014 . so till they give possession I cannot be sure , but they are saying right now to be Q4 12 / Q1 13 , which means 6 months to 9 months . even that is not okay for me .

    - differential system of extra charges (my neighbor would have paid more/less PLC than me

    your neighbor can pay more plc or more bsp in any project , depending on when they buy. so I do not know what is wrong with that unless they were forced to buy . It would have been wrong if one is promised a plc and then it is increased

    - launched projects at 8750 in pre launch and later on hiked the BSP by adding parking on whatever

    again you are referring to corridor, and I cannot comment on that and I have been panning it always :).

    they have an escrow account...thats fine..but would you ensure that they would not raise another 10% on excavation (without getting EC that is) and such the blood of already beleaguered investor in corridors

    I agree if they raise any illegal demands people should come and take them to task , that is what this forum is to share experiences

    and I am fine with most of your other observations :).

    again you have misunderstood my point , lazybell has clarified some of the thing , if what he says is correct , then it may take more time. But if what he says is not correct then just like other cases , it can be done much before, as it is an explanation of process. If you want more info, please see the greenopolis thread to know how it was done .
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  • Originally Posted by rushilarora
    Kindly see this point. May be there is a typo error


    oops it is June 2013 , and promised date by Q4 13 and Q1 14 . sorry , thanks
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  • Originally Posted by aabansal
    I am sorry sir bt ur answers are more like a politician..you are literally encyclopedia of Ireo and i m sure many learned people here wud vouch for that and still you chose to answer facts on GA and for rest you just said that might hav hapened..nice try once again to defend your idol..well everything is correct as per law but we are talking abt ethics and now law


    Whatever every goon builder doing is mostly as per law so again everybody is at same page
    You shudnt hav commented on corridor if you now say tht you hav decisive knowledge only about GA

    Also i can send you official quote by ireo top management on project launch that GA would be delivered by end 2012..let me know if u r not able to locate the link


    please send , I can talk about what I know and what is promised as per BBA . Incidentally I had bought it on the date of launch , so BBA is accurate .

    I also have criticized them as per ethics and not as per law and given examples from GA, uptown and IVV .

    sir I have not been indulging in any namecalling and have patiently answered all your questions and will appreciate if we can stick to the point .

    You have every right to disagree with me and have your own interpretation and views . I will politely disengage from this , as have and continue to have lot of respect for you .
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  • Originally Posted by neutral
    This thread was started on 18 June 2011 by St_Anger. And yet even after more than 2 years, the excavation hasn't started???

    This is THE major problem with Indian builders and the process they follow in their work

    1. Hire a web and graphics designer to create a glossy brochure (Remember to qualify in micro-fonts that image are for illustrative purpose only and actual layout might (will) be totally different from the one shown above

    2. Pre pre launch a project at X sq ft.

    3. Pre launch the project at X+2000 sq ft. claiming the pre-launch was totally booked BUT few units still left and buy them before next price increase in exactly 9 days and 12 hours and 3 minutes

    4. Now Launch the project at X+4000 sq ft. Always choose an exotic sounding english name like victory valley, Evey, Escencia, Mushroom, Dragon etc. The days of Alaknanda, Ganpati, Sadbhavna are long gone

    5. Collect the money. Remember to mention in the BBA that the project (including the pricing, floor plan, master plan, location and the city can also be changed on discretion of the builder)

    6. a) If this is not your first project - divert money to your other long pending project
    6. b) If this is your project put money in bank. Choose a tenure which pays highest interest and keep it revolving for atleast a decade

    7. Start looking for a land. The closer it is to anything "proposed" the better it is. Nobody buys any property these days which is close to a market, metro or expressway. People want to buy property near proposed metro, proposed hospital, proposed commercial hub. People are forward looking u know. Calculate the time taken to every prominent existing airport, railway station, metro etc at 150-200Km/hr and mention prominently them to be 5-10 mins drive from the project..

    8. Cover the land with boundary of tin mentioning project name. Take care to not let a single opening which might let the people see that u r actually growing onions on that land.

    9. Apply for those 1,000 licences you need.. Someday they will come! Till then sit tight..



    Absolutely fantastic !!! Loved the whole thing . So true and yet sadly hillarious . These builders just take us all ( here i mean mostly end users ) for such ride and whats worse is we get taken willingly for this ride. Its that dream of having a beautiful home where you somehow believe that all your life problems will get solved on their own .
    But truly loved your wit , insight and writing skills . You should entertain us more often . Thanks for making me laugh . Cheers .
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  • Just having gone through the last few posts here , i wanted to confirm the statement made by Mr Aabansalji , yes its true that Ireo took the excavation fee for Skyon way before they actually got the EC for Skyon . I booked my apt in Skyon in July 2011 and paid 3rd installment - which was on start of excavation on 12th Nov 2011 , which incidentally is almost 8 months before they got EC ( EC for Skyon was received on 21st July 2012 - EC certificate is posted on Official Ireo Site ) .
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  • Ireo launches Grand Arch in Gurgaon - Economic Times

    Launch date oct 2009.

    Verbatim from none other than MD in ET.

    I have no reason to believe anything or anyone else...if you disagree please provide reasoning.

    I would still say that delivery of entire project is not possible before june 2014..OC process alone takes 3-4 months and after that possession formalities take up another 2-4 months.
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  • Originally Posted by kinjalchato
    If that is true then you may be correct, depending on intention of ireo :). which minutes was it , if you mind sharing :)


    Ireo intention is to fast track... It is the babudom whose is otherwise...

    Item 2 in 89th meeting of seac.
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  • Originally Posted by aabansal
    Ireo launches Grand Arch in Gurgaon - Economic Times
    Launch date oct 2009
    Verbatim from none other than MD in ET
    I have no reason to believe anything or anyone else...if you disagree please provide reasoning
    I would still say that delivery of entire project is not possible before june 2014..OC process alone takes 3-4 months and after that possession formalities take up another 2-4 months


    sir ,

    I can give lot of explanation and you may like to believe or not believe, it is upto you , but if you don't agree please do not make seemingly personal comments . If that can be adhered to , I will go ahead, else will request we leave it at that :).
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  • i am sorry KC bro..personal attack was not an intention ...i was typing on cellphone so did not recheck comments before posting again..i can assure you that was not the intention.. i welcome your response and would love to hear the reasoning

    Originally Posted by kinjalchato
    sir ,

    I can give lot of explanation and you may like to believe or not believe, it is upto you , but if you don't agree please do not make seemingly personal comments . If that can be adhered to , I will go ahead, else will request we leave it at that :).
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  • Originally Posted by aabansal
    Ireo launches Grand Arch in Gurgaon - Economic Times
    Launch date oct 2009
    Verbatim from none other than MD in ET
    I have no reason to believe anything or anyone else...if you disagree please provide reasoning
    I would still say that delivery of entire project is not possible before june 2014..OC process alone takes 3-4 months and after that possession formalities take up another 2-4 months


    Check the parenthesis Sir, that will clear as to what is attributable to Ireo management and what is attributable only to the fertile imagination of the journalist... :)
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