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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  • any news on nxt demand ??
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  • Bad news guys ireo has raised demand for excavation
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  • can we reach to the site and see the development...please guide if any one have gone so far
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  • Last year when project was pre-launched, I'd tried to reach the site but it was unreachable being in midst of flowing fields and no road. Not sure if thats the same state now also or some kind of road access has been created.
    Ask IREO for a site visit, they cannot refuse a site visit to the buyers.

    Originally Posted by samie001
    can we reach to the site and see the development...please guide if any one have gone so far
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  • Originally Posted by sh-saxena
    Last year when project was pre-launched, I'd tried to reach the site but it was unreachable being in midst of flowing fields and no road. Not sure if thats the same state now also or some kind of road access has been created.
    Ask IREO for a site visit, they cannot refuse a site visit to the buyers.


    Go through the Ansals Esencia project, you'll easily reach the site…..
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  • 200 bucks discount for ppl who pay on time All their installments , 200 bucks would be adjusted in the end ! Whatever it's worth ..Good for end users .
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  • Got the mail for 3rd payment demand today....:(
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  • Got the 3rd instalment letter along with the 200 bucks discount letter today. Wonder will this discount offer affect the project's state in the resale market. Please comment on the site situation if anybody has had the chance to visit.
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  • Such things dont really impact the resale market. Timely payment discount will be given 5-6 years later when the project gets completed. Many projects have such offers and not aware if anyone has given it yet.

    Originally Posted by karan91
    Got the 3rd instalment letter along with the 200 bucks discount letter today. Wonder will this discount offer affect the project's state in the resale market. Please comment on the site situation if anybody has had the chance to visit.
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  • Rather then expecting Timely payment discount, I am willing to pay timely delivery premium of INR 500/- to IREO.

    No builder has gumption to do this...

    RA

    Originally Posted by sh-saxena
    Such things dont really impact the resale market. Timely payment discount will be given 5-6 years later when the project gets completed. Many projects have such offers and not aware if anyone has given it yet.
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  • Indeed bad news and Ireo should have waited. Clearly see many ( many) are not gone to make payment ) . Bruising the investor will killing high price, rediculous car park and Plc have worsened gone deeper in last 2 quarters.




    Originally Posted by del_del
    Bad news guys ireo has raised demand for excavation
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  • Fellow members any news on resale in the market and is it possible ( rate to rate or discount).

    Btw ireo has any policy on buy back or surrender etc.
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  • Why cann't Ireo Scrap the Project

    To me also as a buyer - its a super greedy pricing - While i do not know what portion of the project has been sold to end users, i seriously doubt how many end users would be interested in buying at 10 K with all the interesting clauses even in 2015 or 2016 ........when there are going to be so many available/UC/RTM options on GCX..................Given the market scenario ......Its better if its not sold out/or got proper response ......IREO accepts the pricing mistake, scraps the project, refund the investor's money who in any case are having hard time in exiting .........rather than digging land and asking for more money from investors......

    PS : If my suggestion sounds radical/impractical to you - please ignore it :)

    Originally Posted by krishna99
    I had initially pointed out on the issue of exorbitant pricing for the location and dubious clauses such as escalation and parking.

    At the price of close to 10k all inclusive for the said location the builder actually factored the price property would demand in 2016-17 when it comes to delivery. Hence for both the kind of buyers (EU and Investor) its gonna be huge burden.

    We have fought with the builder in greenopolis as a group to get rid of escalation clause and are currently pursuing with builder on other issues such as excess EDC/IDC, Parking charges, club development charges, completion definition, Super area increase clause, super area calculations and many more.

    We so not think that we would be able to push builder on all the counts but are sure we can make a difference on few issues. Escalation clause removal is one such huge but one if the successes we have achieved so far.

    But now the battle gets tough and need more members to prick the thick skin of builders and persistent efforts by association.

    Would suggest that all buyers get together and form an association and fight out these issues. As a fellow group we could help share the learnings if required and our associations with other project associations can take on the greed on builders in general.

    I know that there are some ardent fans of IREO here but believe me the so called different builder (hatke) has no connection now with IREO too... It has joined the prestigious rouge builders of Gurgaon.

    We at Greenopolis Welfare Association are happy to help fellow buyers of RE. Visit the association website (add below)


    Join Greenopolis Welfare Association: Visit greenopolis.wix.com/our-gwa
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  • Originally Posted by kaps2050
    To me also as a buyer - its a super greedy pricing - While i do not know what portion of the project has been sold to end users, i seriously doubt how many end users would be interested in buying at 10 K with all the interesting clauses even in 2015 or 2016 ........when there are going to be so many available/UC/RTM options on GCX..................Given the market scenario ......Its better if its not sold out/or got proper response ......IREO accepts the pricing mistake, scraps the project, refund the investor's money who in any case are having hard time in exiting .........rather than digging land and asking for more money from investors......

    PS : If my suggestion sounds radical/impractical to you - please ignore it :)


    May I also ask for your comments, you as buyer when a builder would scrap his project because of very hot market and fast shooting prices! Why do we all expect Ireo to be much different than any other builder in the market. At the end of the day they all are in the market to make money and not do charity. I guess the buyers or investors made an informed decision and entered the project with enough information on hand and if the human greed has in this case been beaten by the one of the builder, no crying foul would help.

    Cheers.

    CA.

    Note: Though I am not invested in the project, I do have sympathies for the allottees whose money is stuck in the project with very little, no or negative return.
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  • Agree with CA. What would the buyers feel if IREO scraps say Uptown and refunds the buyers Rs 3800 (which was the initial price) and then finds new buyers at say 8500 ??
    If that sounds highly preposterous, than so does your suggestion.


    Originally Posted by kaps2050
    To me also as a buyer - its a super greedy pricing - While i do not know what portion of the project has been sold to end users, i seriously doubt how many end users would be interested in buying at 10 K with all the interesting clauses even in 2015 or 2016 ........when there are going to be so many available/UC/RTM options on GCX..................Given the market scenario ......Its better if its not sold out/or got proper response ......IREO accepts the pricing mistake, scraps the project, refund the investor's money who in any case are having hard time in exiting .........rather than digging land and asking for more money from investors......

    PS : If my suggestion sounds radical/impractical to you - please ignore it :)
    CommentQuote