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 Enabler
    1 day game played in Corridor to encash there brand as if no tomm and all laced with greed with no consideration for investors / end users. Prices were 25-30% higher. All set with channel partners to create hype. Followed by which exorbitant car park prices of the tune of 450-650 per sq ft which was not transparent earlier.

    If they have misconception if being close to BJP that's not gone to work. BJP being ruling party not gone to associate with such punters developers and yes they may full some string on delay economic offenses cases and police complaints .

    Above all after this fiasco ..... Let ires launch a project in Gurgaon and see for themselves the response. Opinion and views are here as gathered from wide quantum of people including realtors. Actually Ireo themselves know it was bad move how ever cannot puke it out due to many factors.

    All resale deal after 18 months done were at discount of 5-8 lakhs .......there must he something wrong and market being slow cannot be the sole reason


    I agree this is a disaster of a project , in the way the sales process was executed. This project was adviced against by lot of people for many reasons ( including self ), and those who heeded must be relieved.

    There were several sadly who got conned by the marketing efforts of the builder and brokers and did not heed well meaning advice .
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  • Sir...my 2 cents...If IREO launches appts on GCX road 2morrow at rate under 6-7K...it wuld b sold out in no time. Because people greed is beyond builders creditibility...
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  • On-boarded to Iref a few months back and could not refer or aware for the discussions/ advise. Wasn't aware Ireo will be covering the profits margin of other projects here as well as encasing there goodwill. Channel partner also could not given any vision, pros/cons but the fact it is great project.



    QUOTE=kinjalchato;1199201]I agree this is a disaster of a project , in the way the sales process was executed. This project was adviced against by lot of people for many reasons ( including self ), and those who heeded must be relieved.

    There were several sadly who got conned by the marketing efforts of the builder and brokers and did not heed well meaning advice .
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  • Originally Posted by horizonkns
    Sir...my 2 cents...If IREO launches appts on GCX road 2morrow at rate under 6-7K...it wuld b sold out in no time. Because people greed is beyond builders creditibility...


    It is not about the rate, but the clauses that were added in the bba . That was a first time for ireo and had not been done before by them in other projects.

    also if what akuser describes is true, then that would be another first for them.

    If unitech / BPTP were to launch a project in GCx at 7k, I will still not touch them :).
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  • Hi AKUSER
    I want to connect with you regarding Corridor. How can I?
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  • Got to talk to an investor who got relieved from this project after suffering a hefty loss of nearly 5 lakhs. 2 points that just totally shook me:

    1. Ireo says delay compensation mentioned in the BBA is only valid for the first allottee. In case the unit is transferred, which shall happen eventually for every unit, no compensation will be given to the resale investors.

    2. Timely payment rebate scheme is also valid for the first allottees only which just increases the bsp by Rs200/sqft.

    3. After September 15th, a transfer charge of 100-150 per sqft shall be levied for all transfers. The above 2 points shall still be honoured by the company after september 15th.

    I have email replies from Siddharth(Head of CRM) that state these terms clearly.

    Guys If you are reading this and have invested in this project please contact. Its for your own money and benefit.
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  • This will be a disaster to the already bleeding investment . How can Ireo not being transparent about it .



    Originally Posted by karan91
    Got to talk to an investor who got relieved from this project after suffering a hefty loss of nearly 5 lakhs. 2 points that just totally shook me:

    1. Ireo says delay compensation mentioned in the BBA is only valid for the first allottee. In case the unit is transferred, which shall happen eventually for every unit, no compensation will be given to the resale investors.

    2. Timely payment rebate scheme is also valid for the first allottees only which just increases the bsp by Rs200/sqft.

    3. After September 15th, a transfer charge of 100-150 per sqft shall be levied for all transfers. The above 2 points shall still be honoured by the company after september 15th.

    I have email replies from Siddharth(Head of CRM) that state these terms clearly.

    Guys If you are reading this and have invested in this project please contact. Its for your own money and benefit.
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  • I may not have and possibly get from Ireo. Btw any specific reason for that


    Originally Posted by AKUSER
    Enabler, do you have a copy of the application form which has rates, plc, size details.pls ask them and get all pages. do send yr contact or email. Best.
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  • Originally Posted by karan91
    Got to talk to an investor who got relieved from this project after suffering a hefty loss of nearly 5 lakhs. 2 points that just totally shook me:

    1. Ireo says delay compensation mentioned in the BBA is only valid for the first allottee. In case the unit is transferred, which shall happen eventually for every unit, no compensation will be given to the resale investors.

    2. Timely payment rebate scheme is also valid for the first allottees only which just increases the bsp by Rs200/sqft.

    3. After September 15th, a transfer charge of 100-150 per sqft shall be levied for all transfers. The above 2 points shall still be honoured by the company after september 15th.

    I have email replies from Siddharth(Head of CRM) that state these terms clearly.

    Guys If you are reading this and have invested in this project please contact. Its for your own money and benefit.



    how did the investor get releived by taking loss of 5 lakhs ? you mean he sold his unit in open market at a loss of 5 lakhs or did ireo deduct 5 lakhs gave rest money back to him ?
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  • This is serious.......

    Would also urge all member to check on it and if you do not have application form please have it from CRM and they should provide. I got to know few alotees have already got it


    Originally Posted by AKUSER
    There are forged signatures esp on page 5, 7, additions to rates, changes to details by applicant. Channel partner/dealer is different than the one who did business . ALL MUST CHECK.
    You don't get forms in a day or two....but don't leave , its your entitlement and can't be denied. Let know if anyone faces such issues.
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  • Many people are finding corrections and addition in there application form . Pls check yours and ask Ireo for it if you do nit have one .

    There is forum where people are deliberation on the action to be taken on this and other one sided clause in BBA.
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  • Originally Posted by Joamon
    Dear Members,

    I am new to IREF. I also invested in IREO The Corridors. I am based in Mumbai. I recently read that Competition Commission of India has initiated proceedings against some big builders like DLF, Unitech etc., for their one sided Agreements. Why cannot a few of us send formal complaint to CCI?

    Joamon


    Hello

    There is a group struggling against the builder , are you there ? why dont you joing us
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  • Dear All

    Ireo has shattered investors confidence big time by changing terms and conditions, putting escalation clauses, and not allowing us any opportunity to exit

    We should all unite as a group to reciver our hard earned money
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  • Hi members have any one any idea when they demand 4 check.
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  • Originally Posted by AKUSER
    Bewolf, he sold it. Would you like to join a group of about 30 people and growing? In any case get your app. Form . best.

    hi, i am new to this forum and am feeling a lot confused after reading the posts here. can somebody pls include me in the grp. i have already signed the BBA.
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