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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  • Atleast the highlighted part is not correct
    For 67A, they had told from beginning that Parking was not included in BSP quoted (Rs 8750).
    And as per new rules, they had to include parking in BSP later which is what all builders are doing now.

    Originally Posted by Trust123
    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
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  • Here is what I was referring to ....

    Initial price 8750 and car park not included.

    Revised price was 9800 with car park included. Net net the price revised by only Rs 400. While it looked to investors that price is revised by approx Rs 1000. Why differential pricing ?. Further Rs 400 revision on original price of Rs 8750 is nothing.

    In addition brokers / channel partner claimed that Rs 8750 is offered to only approx 150 people whist I have been told the number is much more.


    Originally Posted by sh-saxena
    Atleast the highlighted part is not correct :)
    For 67A, they had told from beginning that Parking was not included in BSP quoted (Rs 8750).
    And as per new rules, they had to include parking in BSP later which is what all builders are doing now.
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  • Here's the page which gave the initial BSP (Rs 8750) and Parking costs (Rs 650) when it was being prelaunched so total price was 9400 in prelaunch. Investors were surely aware of this.

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/16420-the-corridors-by-ireo-developers-in-sector-67a-gurgaon/page92?t=18631&page=92

    And how will IREO revise price more when its not selling at the initial cost price also ??

    Originally Posted by Trust123
    Here is what I was referring to ....

    Initial price 8750 and car park not included.

    Revised price was 9800 with car park included. Net net the price revised by only Rs 400. While it looked to investors that price is revised by approx Rs 1000. Why differential pricing ?. Further Rs 400 revision on original price of Rs 8750 is nothing.

    In addition brokers / channel partner claimed that Rs 8750 is offered to only approx 150 people whist I have been told the number is much more.
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  • How's about Ireo went about like this

    Original price - 8750 ( excluding Car park)
    Revised price - 9150 ( excluding car park)

    Whole point was to sell as much in round 1 knowing prices are inflated. It was calculated and known


    Originally Posted by sh-saxena
    Here's the page which gave the initial BSP (Rs 8750) and Parking costs (Rs 650) when it was being prelaunched so total price was 9400 in prelaunch. Investors were surely aware of this.

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/16420-the-corridors-by-ireo-developers-in-sector-67a-gurgaon/page92?t=18631&page=92

    And how will IREO revise price more when its not selling at the initial cost price also ??
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  • Originally Posted by Trust123
    Here is what I was referring to ....

    Initial price 8750 and car park not included.

    Revised price was 9800 with car park included. Net net the price revised by only Rs 400. While it looked to investors that price is revised by approx Rs 1000. Why differential pricing ?. Further Rs 400 revision on original price of Rs 8750 is nothing.

    In addition brokers / channel partner claimed that Rs 8750 is offered to only approx 150 people whist I have been told the number is much more.


    Trust123-I would like to point out that those days this was the case with all the builders and due to Govt's clarification on this point all the builders started including the price in the BSP while preparing BBA which later on was calculated and included in the BSP without initially showing both costs separately. In such cases why would you not have something to say about IVV and SKYON also where same practice has been adopted and the BSP's in both cases are inclusive of parking spots.

    I guess we should have same stand and opinion for all the builders and all their projects and for forming an opinion each one should be measured with same yard stick.

    Cheers.

    CA.
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  • Cheeky AlAn - not sure you got the context right, by the time corridor was launched regulation of no additional car park was already known. Having said that why launch price informed as 8750/- and additional 650/- as separately informed( which is fine as long as same is followed for revised pricing). Whilst as the rate revised it was mention as rate of 9800 all inclusive. It should have uniform all along.

    As well if this the case with VV and other builder/ project be it. I can only commenting on specific thread rather general comment across


    Originally Posted by Cheeky AlAn
    Trust123-I would like to point out that those days this was the case with all the builders and due to Govt's clarification on this point all the builders started including the price in the BSP while preparing BBA which later on was calculated and included in the BSP without initially showing both costs separately. In such cases why would you not have something to say about IVV and SKYON also where same practice has been adopted and the BSP's in both cases are inclusive of parking spots.

    I guess we should have same stand and opinion for all the builders and all their projects and for forming an opinion each one should be measured with same yard stick.

    Cheers.

    CA.
    CommentQuote
  • Originally Posted by Trust123
    Cheeky AlAn - not sure you got the context right, by the time corridor was launched regulation of no additional car park was already known. Having said that why launch price informed as 8750/- and additional 650/- as separately informed( which is fine as long as same is followed for revised pricing). Whilst as the rate revised it was mention as rate of 9800 all inclusive. It should have uniform all along.

    As well if this the case with VV and other builder/ project be it. I can only commenting on specific thread rather general comment across


    Trust 123 ji,

    As far as my knowledge goes, parking controversy was always there only it had started to be discussed more vigorously and more often and was further clarified by the Govt. which forced builders to change their stand and they included the price there of in the BSP.

    Also why should we as a general rule consider IREO different from other builders in all ways. After all they are not or proving not to be Sachin of Real Estate development.

    Cheers.

    RE.
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  • Cheeky AlAn,

    Your knowledge is correct and As you are repatriating same point, refer to my previous post

    Originally Posted by Cheeky AlAn
    Trust 123 ji,

    As far as my knowledge goes, parking controversy was always there only it had started to be discussed more vigorously and more often and was further clarified by the Govt. which forced builders to change their stand and they included the price there of in the BSP.

    Also why should we as a general rule consider IREO different from other builders in all ways. After all they are not or proving not to be Sachin of Real Estate development.

    Cheers.

    RE.
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  • Looks bit different from the site layout on IREO website.
    C1/C2 blocks and the pool next to C1/C2 seem to be missing.

    Originally Posted by kinjalchato
    http://tcpharyana.gov.in/Licences/site%20plan/5%20of%202013%20Precision.pdf

    ireo corridors layout submitted to TCP.
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  • Originally Posted by sh-saxena
    Looks bit different from the site layout on IREO website.
    C1/C2 blocks and the pool next to C1/C2 seem to be missing.


    Great observation Sh-saxena ji.. it is indeed missing..
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  • Originally Posted by sh-saxena
    Looks bit different from the site layout on IREO website.
    C1/C2 blocks and the pool next to C1/C2 seem to be missing.


    In GA the project is under Licences LC 1280 A ( 19 acres ) and LC 1280 B ( 2 acres ). Hence the additional2 acre land aggregated comes as the Lawn tennis and Football pitch .

    There could be a similar reason for the corridor and one needs to go through the details.

    Better for corridor people to get it checked.
    CommentQuote
  • Originally Posted by kinjalchato
    In GA the project is under Licences LC 1280 A ( 19 acres ) and LC 1280 B ( 2 acres ). Hence the additional2 acre land aggregated comes as the Lawn tennis and Football pitch .

    There could be a similar reason for the corridor and one needs to go through the details.

    Better for corridor people to get it checked.



    Corridor people are busy checking re-sale prices!!! :D:D:D

    Unfortunately, everytime I have my "didn't I tell you so" moment...I have to keep it subdued! This is was just an aberration from the usual. I hope it doesn't ruffles undue feathers!
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  • I saw a case in Bangalore where a builder had taken an adjacent land that housed a hockey stadium (which didn't belong to him even!) to be part of his FAR calculation for the land he bought.

    Not sure if relevant.
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  • Last post on november 26th!!! Has this project gone into hibernation or what?? Anybody aware of the 3rd instalment? And what is the status of the project in terms of construction and resale.
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