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 :
  • Originally Posted by aabansal
    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


    Knowing you , it was little different. nevertheless as I said I always have respected you.

    sir the explanation is simple the date refered is end 2012 , which knowing these kamina builders means 31st Dec, 2012 :). add 6 months due to the so called grace , it is June 2013 . which is exactly as per their BBA and that is what I meant .

    One should not have too much expectation , one will always be disappointed , this is my pov . end of the day it is just an investment and I care too hoots what happens once I exit.

    so more than me they should be worried about their reputation and what they intend to do or not do ( borrowing from one of my inspiration in IREF Rushilji , wish I could write like him ) and I wish that they indeed deliver by Q1 .

    anyway ireo GA owners forum has a meeting scheduled with their management and we will hopefully have more clarity from them.
    CommentQuote
  • Originally Posted by Lazybell
    Ireo intention is to fast track... It is the babudom whose is otherwise...

    Item 2 in 89th meeting of seac.


    chief for some reason , the link shows 89th , but document is 88th. in case you have 89th, do you mind sharing , as am tracking few more projects and wanted to know their status .

    will appreciate if you can.
    CommentQuote
  • Originally Posted by kinjalchato
    chief for some reason , the link shows 89th , but document is 88th. in case you have 89th, do you mind sharing , as am tracking few more projects and wanted to know their status .

    will appreciate if you can.


    Thanks for the 'chief'... Compliments are not easy to come by... :)

    Items are numbered as to when they were first considered, if you scroll down in the minutes you will see items numbered with initial meeting number when they were first considered going quite some time back... Rather going quite a few meetings back...

    The document you viewed is 89th़

    ps. This EC thing is good for the investors and good for us RE consultants in the long run... but the cashflow chart for me has got skewed... I am in a dilemma whether to like or not like it... For in the long term; we are all dead... :(
    CommentQuote
  • Originally Posted by rushilarora
    That means, one can enter this project at launch price same time next year also?


    This question can only be answered by some Baba Sir... I'm yet to have the capability of passing off like one... :p
    CommentQuote
  • Originally Posted by sh-saxena
    Love the highlighted part :) :)
    I pass Camillas (Magnolias II) site daily, its totally covered with a tin boundary wall with a huge Camillas logo...for all you know DLF has an Onion farm there ...


    Well said Mam,

    The position that DLF is in, it might be more profitable for them to grow onions rather than construct anything till their mindset has changed.

    Cheers.

    CA.
    CommentQuote
  • Kiss and Make Up...!!!

    Request Mods to introduce a flying kiss option on IREF so that members can "Kiss and Make up" after heated discussion....Like these sensible members just did...though without any emoticons:bab (59):

    Also this would reduce number of useless pages in most of threads where the pages have increased in tandem with the figures of corruptions scandal of UPA govt.... JUst because MODS didn't think of this option...

    PS: Imagine if Modi and Sonia exercise this option...Political unstablilty crisis will get sorted out for next couple of centuries ....

    Have Fun...

    RA


    Originally Posted by aabansal
    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
    Knowing you , it was little different. nevertheless as I said I always have respected you.

    sir the explanation is simple the date refered is end 2012 , which knowing these kamina builders means 31st Dec, 2012 :). add 6 months due to the so called grace , it is June 2013 . which is exactly as per their BBA and that is what I meant .

    One should not have too much expectation , one will always be disappointed , this is my pov . end of the day it is just an investment and I care too hoots what happens once I exit.

    so more than me they should be worried about their reputation and what they intend to do or not do ( borrowing from one of my inspiration in IREF Rushilji , wish I could write like him ) and I wish that they indeed deliver by Q1 .

    anyway ireo GA owners forum has a meeting scheduled with their management and we will hopefully have more clarity from them.


    Originally Posted by Lazybell
    Thanks for the 'chief'... Compliments are not easy to come by... :)

    Items are numbered as to when they were first considered, if you scroll down in the minutes you will see items numbered with initial meeting number when they were first considered going quite some time back... Rather going quite a few meetings back...

    The document you viewed is 89th़

    ps. This EC thing is good for the investors and good for us RE consultants in the long run... but the cashflow chart for me has got skewed... I am in a dilemma whether to like or not like it... For in the long term; we are all dead... :(
    CommentQuote
  • Originally Posted by rushilarora
    Request Mods to introduce a flying kiss option on IREF so that members can "Kiss and Make up" after heated discussion....Like these sensible members just did...though without any emoticons:bab (59):

    Also this would reduce number of useless pages in most of threads where the pages have increased in tandem with the figures of corruptions scandal of UPA govt.... JUst because MODS didn't think of this option...

    PS: Imagine if Modi and Sonia exercise this option...Political unstablilty crisis will get sorted out for next couple of centuries ....

    Have Fun...

    RA



    Although some might say it is a good way to get patch things up between 2, but it can also flare up the argument if somebody uses it in a negative manner. I mean somebody can use it to be sarcastic also. :bab (45)::bab (45):
    CommentQuote
  • I wonder if IREO has provided the complete information about the "The Corridors" ,missing initially.

    The application form which a home buyer was initially made to sign had lots of blank slots which should have been decided by now apart from other unfriendly terms.
    I am keen to know:-
    1) Date of delivery promised. Understanding the language used and progress by now , from date of booking it shall take atleast 4.5 yrs w/o late delivery penalty. Why no specific date even now?
    2) Isnt penalty clause of Rs 7.5per sq ft too less ?{for ref DLF Primus (sold at 50%less) has Rs 20/sq ft}.
    3) Force majure clause has even cancellation/non availability of approvals and delay in OC/CC . What more ?
    4) % of the price considered as cost of construction (shall impact escalation amount) is still blank. I hope fellow bloggers understand the implications.
    5) Transfer fee
    6) Why company consent as precondition for transfer even after paying 30%?
    7) What are the plans for the area marked for "Community amenities" (just to avoid it being treated as space for future expansion)?
    8) Any precedence of a developer asking for development charges beyond EDC/IDC viz Infrastructure Augmentation Charges , other charges for executing the external infrastructure work/facilities/services , in addition to the EDC on account of acquisition/development of a 24m or other external roads (including the laying of services along these roads )or for the setting up of electrical substations ( 66kva capacity and beyond)...... . It leaves a lot of ambiguity for a "limited-budget" buyer's calculations, thus not welcome.
    9) Could not find the payment plan , i might have missed that. On this count I am sure they wont be able to beat DLF Ultima/Crest construction linked payment plans on being unreasonable.

    I just ended up reading the application form and undoubtedly this is amongst the most biased I have come across in recent times. Request everybody to read it and understand the clever terms. Felt like bringing my naive observations to everybody's notice.

    Opinion:- With every passing day not only charges under new heads are created and demanded, the terms of the application form and the BBA are getting more and more developer focused. Gradually this may lead to more distrust and unrest among the buyers.
    CommentQuote
  • IREO ki jyada burai mat karo..kuch logo ko pasand nahi aata that anyone brings out facts of chori by IREO :bab (59):

    payment plan baaki chor builders se alag nahi hai..on payment plan..20% is already gone..10% ek truck mitti bahar nikal ke maang lenge...90% structure completion pe..
    ek 10% beech mein lower basement slab pe aur uske saath kuch plc aur EDC IDC..haha..cannot get worse than this..


    Originally Posted by 2numbari
    I wonder if IREO has provided the complete information about the "The Corridors" ,missing initially.

    The application form which a home buyer was initially made to sign had lots of blank slots which should have been decided by now apart from other unfriendly terms.
    I am keen to know:-
    1) Date of delivery promised. Understanding the language used and progress by now , from date of booking it shall take atleast 4.5 yrs w/o late delivery penalty. Why no specific date even now?
    2) Isnt penalty clause of Rs 7.5per sq ft too less ?{for ref DLF Primus (sold at 50%less) has Rs 20/sq ft}.
    3) Force majure clause has even cancellation/non availability of approvals and delay in OC/CC . What more ?
    4) % of the price considered as cost of construction (shall impact escalation amount) is still blank. I hope fellow bloggers understand the implications.
    5) Transfer fee
    6) Why company consent as precondition for transfer even after paying 30%?
    7) What are the plans for the area marked for "Community amenities" (just to avoid it being treated as space for future expansion)?
    8) Any precedence of a developer asking for development charges beyond EDC/IDC viz Infrastructure Augmentation Charges , other charges for executing the external infrastructure work/facilities/services , in addition to the EDC on account of acquisition/development of a 24m or other external roads (including the laying of services along these roads )or for the setting up of electrical substations ( 66kva capacity and beyond)...... . It leaves a lot of ambiguity for a "limited-budget" buyer's calculations, thus not welcome.
    9) Could not find the payment plan , i might have missed that. On this count I am sure they wont be able to beat DLF Ultima/Crest construction linked payment plans on being unreasonable.

    I just ended up reading the application form and undoubtedly this is amongst the most biased I have come across in recent times. Request everybody to read it and understand the clever terms. Felt like bringing my naive observations to everybody's notice.

    Opinion:- With every passing day not only charges under new heads are created and demanded, the terms of the application form and the BBA are getting more and more developer focused. Gradually this may lead to more distrust and unrest among the buyers.
    CommentQuote
  • Absolutely.. no scope of any return on this project for atleast next 3-4 years..

    IREO ne sab choos liye hai..
    CommentQuote
  • Originally Posted by 2numbari
    I wonder if IREO has provided the complete information about the "The Corridors" ,missing initially.

    The application form which a home buyer was initially made to sign had lots of blank slots which should have been decided by now apart from other unfriendly terms.
    I am keen to know:-
    1) Date of delivery promised. Understanding the language used and progress by now , from date of booking it shall take atleast 4.5 yrs w/o late delivery penalty. Why no specific date even now?
    2) Isnt penalty clause of Rs 7.5per sq ft too less ?{for ref DLF Primus (sold at 50%less) has Rs 20/sq ft}.
    3) Force majure clause has even cancellation/non availability of approvals and delay in OC/CC . What more ?
    4) % of the price considered as cost of construction (shall impact escalation amount) is still blank. I hope fellow bloggers understand the implications.
    5) Transfer fee
    6) Why company consent as precondition for transfer even after paying 30%?
    7) What are the plans for the area marked for "Community amenities" (just to avoid it being treated as space for future expansion)?
    8) Any precedence of a developer asking for development charges beyond EDC/IDC viz Infrastructure Augmentation Charges , other charges for executing the external infrastructure work/facilities/services , in addition to the EDC on account of acquisition/development of a 24m or other external roads (including the laying of services along these roads )or for the setting up of electrical substations ( 66kva capacity and beyond)...... . It leaves a lot of ambiguity for a "limited-budget" buyer's calculations, thus not welcome.
    9) Could not find the payment plan , i might have missed that. On this count I am sure they wont be able to beat DLF Ultima/Crest construction linked payment plans on being unreasonable.

    I just ended up reading the application form and undoubtedly this is amongst the most biased I have come across in recent times. Request everybody to read it and understand the clever terms. Felt like bringing my naive observations to everybody's notice.

    Opinion:- With every passing day not only charges under new heads are created and demanded, the terms of the application form and the BBA are getting more and more developer focused. Gradually this may lead to more distrust and unrest among the buyers.


    2numbari and bansal ji,

    CCI hae na. Dar kaahae ka.

    Cheers.

    CA.
    CommentQuote
  • some legal advice needed.

    I would appreciate if anyone with legal knowledge on this forum could answer or advice on my question below.

    I would like to know if the application with the builder is made on behalf of a private limited company, where the consent of other directors were not taken through a board resolution and later there is a dispute in seeking such approvals or getting a BR signed and BBA cannot be signed without board resolution. What is going to happen to booking and the amount paid for the booking. Should this booking be considered as Invalid and cancelled.

    Thanks
    CommentQuote
  • does anyone have any idea about transfer charges in this project ?? is it free as of now???
    CommentQuote
  • this project has zero resale.. biggest blunder for investors who trusted IREO on this one.. one of my friends is badly stuck.. he had an arrangement of only 20% money and now he is getting jittery,.. seems he will lose his entire money as he is not finding buyers at the first price also..
    CommentQuote
  • Sorry but your friend deserved it. Investing in a project with 20% in pocket is blunder and reason enough to get jittery.

    On a lighter note, did you not recommend New Gurgaon/3C Greenopolis to your friend? :D:D

    Originally Posted by luckyone
    this project has zero resale.. biggest blunder for investors who trusted IREO on this one.. one of my friends is badly stuck.. he had an arrangement of only 20% money and now he is getting jittery,.. seems he will lose his entire money as he is not finding buyers at the first price also..
    CommentQuote