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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  • Originally Posted by JethroNull
    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

    Some smart new members have joined IREF who are making their presence felt everywhere.. :)
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  • Good one bro :D

    Originally Posted by luckyone
    Some smart new members have joined IREF who are making their presence felt everywhere.. :)
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  • 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..


    That's funny
    People have such risk taking capacities
    Playing @20%
    I think it's people like these who take the market downhill
    Such short term horizons is the shocker in the above msg

    Anyways good luck to your friend buddy

    Sent from my GT-N5100 using Tapatalk 4
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  • Just to share my experience on this... I was looking to invest into this...waited for long time ... but the movement, price annoucement was 8750/-, I took my cheque back... I felt reasonable price for this should be around 7500/-... So I gave a miss...

    Everyone may not think same way....but thats ok..everyone has his point of view...
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  • I was also waiting for long for it and planned to give my cheque but the broker was acting very pricey saying there's too much demand and he will try and never got back to me. Then anyways I got put-off with the price & the escalation clause and didnt pursue it.

    Now the same broker keeps sending me many messages offering units at cost price !!

    Originally Posted by samie001
    Just to share my experience on this... I was looking to invest into this...waited for long time ... but the movement, price annoucement was 8750/-, I took my cheque back... I felt reasonable price for this should be around 7500/-... So I gave a miss...

    Everyone may not think same way....but thats ok..everyone has his point of view...
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  • This project was never meant for people wanting to play 30% game.

    It is for end-users or people with a horizon of 3 year atleast.

    Any idea on the number of units sold in the project?
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  • Originally Posted by sh-saxena
    I was also waiting for long for it and planned to give my cheque but the broker was acting very pricey saying there's too much demand and he will try and never got back to me. Then anyways I got put-off with the price & the escalation clause and didnt pursue it.

    Now the same broker keeps sending me many messages offering units at cost price !!


    I had been waiting since the time the cheques given at 5500 were not en cashed. This time I told my broker to bring the cheques back when he called me from Ireo office at the time of allotment of units and I realized that the project is like mid rise row houses with only 2 sides open like vatika city floors. Was put off and got lucky. Must say my broker was worth his salt for discouraging me about this project.

    Cheers.

    CA.
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  • I have received the following info from my sources:-

    "IREO has allowed the transfer in this property after the initial 20% payment and has waived off the transfer charges for some time."

    Friends please verify this from IREO officials.

    If true, this is a welcome move from IREO to help unsatisfied/panicky investors with an exit.
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  • I also have same information.. as per IREO office transfer is free as off now..
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  • Originally Posted by JethroNull
    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


    Develeraging has just begin. The suckers at the top of market will lose their shirt .

    People who can hold on and take deleivery no worry for them
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  • IREO has failed its investors this time and realising this they are taking unprecedented steps like making transfer free and allowing the transfer without paying 30% etc... Absurd pricing and absurd PLCs. Huge inventory in the project will always keep the price appreciation in check.. e
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  • Originally Posted by courtier
    IREO has failed its investors this time and realising this they are taking unprecedented steps like making transfer free and allowing the transfer without paying 30% etc... Absurd pricing and absurd PLCs. Huge inventory in the project will always keep the price appreciation in check.. e


    Ireo hasn't failed its investors.. Ireo is just another illegitimate child of the black economy that we have created around us.. People were getting greedy... with the success of Ireo GA and uptown.. wherein investors earned more than what ireo sold the project for ( out of which ireo's profit would be a measly 10--30%) ... So, decision makers at ireo must have thought they are not capturing the greed of the investors fully... when they decided to capture the greed, the result was Corridors..

    Builders are thugs, per se ( some smaller Ireo, Dlf, emaar.... some bigger spire, mahindra,today) .. Investors need to apply reasoning rather than blind faith to make decisions.. and if someone cant help but invest his blind faith then there are three indelible rules for him

    1) He should have arrangement for 100% payment...
    2) He should have a long term view
    3) He should look only TATA and Godrej housing for blind faith wrt to layouts etc!!
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  • Originally Posted by St_Anger
    Ireo hasn't failed its investors.. Ireo is just another illegitimate child of the black economy that we have created around us.. People were getting greedy... with the success of Ireo GA and uptown.. wherein investors earned more than what ireo sold the project for ( out of which ireo's profit would be a measly 10--30%) ... So, decision makers at ireo must have thought they are not capturing the greed of the investors fully... when they decided to capture the greed, the result was Corridors..

    Builders are thugs, per se ( some smaller Ireo, Dlf, emaar.... some bigger spire, mahindra,today) .. Investors need to apply reasoning rather than blind faith to make decisions.. and if someone cant help but invest his blind faith then there are three indelible rules for him

    1) He should have arrangement for 100% payment...
    2) He should have a long term view
    3) He should look only TATA and Godrej housing for blind faith wrt to layouts etc!!


    The last 3 points are crisp and spot on .

    Tata Primanti is the only exception amongst several builders who had a revenue rasta / bundh through their projects but never showed it in the layout , Tata clearly marked out both which says a lot about their integrity.
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  • Arent the short-term sort of investors equally to blame to invest in a middle of nowhere, high priced, obnoxious PLCs, specs which are sort of basic in today's times rather than luxury, a hugely congested masterplan, and an undefined escalation clause on top.

    Why did the investors not stop and think on who they will be able to offload a flat which is more expensive than IREO's own IVV and Uptown (which have better specs, better location, advanced stage of construction & a much cheaper price), and many other GCX projects. Why will an enduser buy it when they are getting better flats at cheaper rate in GCX itself. When investors think of endusers as fools, then endusers pay them back by doing a vanishing act !!

    In my view, investors will be able to get some minimal premium only after two years or so but they will be so much richer in experience atleast. And in a long run, this project will also work out fine so just need to have patience and funds if invested.

    Originally Posted by courtier
    IREO has failed its investors this time and realising this they are taking unprecedented steps like making transfer free and allowing the transfer without paying 30% etc... Absurd pricing and absurd PLCs. Huge inventory in the project will always keep the price appreciation in check.. e
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  • Investor should do the due diligence. Also largely got swayed by Ireo gimmick. It is unfortunate that issues of uptown and VV are surfacing now.

    No doubt it is big dent on Ireo reputation and this will haunt them going forward.

    Another point though covered above but have diff shade is with glossy brochures and using rhetoric words, claiming specs to be luxury while they are not is cheating. deceiving and not clear about car park in original price , later include it in revised price is cheating.

    Selling huge inventory knowing these things will surface in few days knowing market sentiments is calculated and to shave off investors. Done as if there will be no tomm and is cheating.


    They have lost faith of investors and certainly has lost many time over here




    Originally Posted by sh-saxena
    Arent the short-term sort of investors equally to blame to invest in a middle of nowhere, high priced, obnoxious PLCs, specs which are sort of basic in today's times rather than luxury, a hugely congested masterplan, and an undefined escalation clause on top.

    Why did the investors not stop and think on who they will be able to offload a flat which is more expensive than IREO's own IVV and Uptown (which have better specs, better location, advanced stage of construction & a much cheaper price), and many other GCX projects. Why will an enduser buy it when they are getting better flats at cheaper rate in GCX itself. When investors think of endusers as fools, then endusers pay them back by doing a vanishing act !!

    In my view, investors will be able to get some minimal premium only after two years or so but they will be so much richer in experience atleast. And in a long run, this project will also work out fine so just need to have patience and funds if invested.
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