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 SunnyInvest
    i am assuming they did not have all the licences and EC in place when they banked the checks..So that should be a reason good enough to ask for refund...


    This is a common practice with all builders (Case in point - ALL pre-launches). Check the application/allotment form filled at the time of booking. They wud've mentioned some clause applicable in the case of unit cancellation.
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  • Here you go..... these are the terms in the application form that all buyers have signed already :bab (58):
    Attachments:
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  • Originally Posted by shane13
    Here you go..... these are the terms in the application form that all buyers have signed already :bab (58):


    oh my... Thanks Shane... i guess lot of us are stuck in that case....
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  • Originally Posted by SunnyInvest
    Friend of mine has sought legal help and seen some positive change in behavior from ireo management.. i am assuming they did not have all the licences and EC in place when they banked the checks..So that should be a reason good enough to ask for refund...


    It shall be really helpful if you can share some details of your friend's case. I mean what did he demand and how did Ireo react. Although, I am not demanding any specifics here but something shared can be useful for all of us.
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  • I also discussed refund/buyback options with them but ireo was unresponsive.. they refused straightway... I applied for a 2bhk unit but later I got a 2 study(1484 sqft). But in application i have signed on 2bhk unit.. does it qualify for a legal case???
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  • Originally Posted by courtier
    I also discussed refund/buyback options with them but ireo was unresponsive.. they refused straightway... I applied for a 2bhk unit but later I got a 2 study(1484 sqft). But in application i have signed on 2bhk unit.. does it qualify for a legal case???


    I suggest you contact the user: AKUSER on his e-mail address. He has mentioned it in the above posts. It is the need of the hour that a pressure group be formed to fight against builders who misuse their money and power to cheat on investor's hard earned money. Everybody in this market come with a common interest to make money and ever body must have his fair chance in this game.
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  • True

    Yes I also visited the site last week and saw a cremation ground over there.
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  • Ireo Visit

    Originally Posted by karan91
    Maybe its true, people do not unite and builders take undue advantage of this fact. I've had many arguments with the ireo people in the past 2 weeks(regarding my unit size, location and other stuff) and they are reluctant to change from their stance. I say we should decide a day and time and meet these greedy ***** and face them altogether. Any one who feels cheated may reply and we can plan the meeting.


    I am open to go along with you. I stay in Gurgaon and we can plan the visit in the coming week.
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  • Originally Posted by AKUSER
    Where can we locate while it. can you please help.


    Yes, I went to the site from the Ansal project and just at the beginning of the Ireo project where there are hoarding, at the right side, you will find a Cremation ground.
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  • planning to send them a legal notice on one sided agreement
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  • Originally Posted by aleale
    I am open to go along with you. I stay in Gurgaon and we can plan the visit in the coming week.


    PM me your number and i shall add you to the group.

    Regards
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  • Ireo L next course of action

    Hello

    I agree with some of the members here , we shoudl immediately file a written protest with ireo

    as per BBA , Ireo in normal inflation situation can extract 30 lacs extra and we cant say anything , this clause is highly objectionable , which means even if they forfeit first installment of 12 lacs in worst case, we are better off :)

    Also the parking charge of 7 lacs per parking was not informed to us and is very high , a few more points on club charges

    We should write a joint application and send it to them asap asking for resolution of points above or refund
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  • This is rediculous. The project is already overpriced laced with greed. Agree where in Gurgaon the car park is changed Rs 650 / sq ft. On top of that escalation clause. Let me tell you very explicitly if it is there it is gone to invoked. Note ireo is FDi and they need to safeguard and maintain retun and from that perspective monitored on quarterly basis.

    Sad they encashed their brand as if no tomm. and fooling investor who got trapped in marketing and Chanel partner estranged and trapped with something almost 30% more than current market value by any means. Unless there is bull the project is expected to break even in 2 years and substantial payment would have been gone

    See many posts in realty portals offering discount of 10-20% to come out.

    Anyway big learning for next Ireo projects
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  • Just a point, On the Development charges, do you mean EDC ? It cant be reduced as its mandated by HUDA and is charged same amount for all projects. Its not for development inside the project but 'External Development Charges' charged by HUDA.

    Originally Posted by AKUSER


    KEEP CLUB MEMBERSHIP , SWIMMING POOL MEMBERSHIP, YOGA, FEE FOR THOSE WHO WANT IT.

    REDUCE CHARGES ON AMENITIES LIKE CLUB, PARKING, BASKET BALL, SWIMMING POOL, ETC
    DEVELOPMENT CHARGES ARE 327 PER SQFT ...5 / 6.3/ 8 LACS DEPENDING ON SIZE. ONCE WE ASK FOR LESS EXPENSES ON SUCH AMENITIES , THESE DEVELOPMENT CHARGES ALSO COME DOWN.BY THE WAY THE DEV. CHARGES ARE 1800 X 6 LACS (ASSUMED 6 LACS) FOR THIS PROJECT.108 CRORES. THATS A LOT OF DEVELOPMENT AND WE NEED TO DECIDE WHETHER WE NEED SO MUCH DEVELOPMENT OR BETTER PRICE.JUST TAKE A LOOK AT THE CHARGES IN NOIDA FOR 'LUXURY' BUT HIGH DENSITY PROJECTS.

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  • lets join the group

    true Ireo has betrayed us big time ,,,,,,, We should all join watsapp group we have drafted a letter to lodge strong protest against Ireo practices
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