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 todayfuture
    Did anyone receive new demand with due date end of June?


    Yes. Everyone received, it is the 5 th installment ( casting of 2nd roof slab ).
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  • Originally Posted by AKUSER
    Norway,

    Hope is a beautiful thing....this reminds me of Shawshank redemption and Django unchained. :)


    Hi Norway, at what price you have purchased the unit ??
    Please add me in the group.
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  • Originally Posted by rahul kmr
    yes. Everyone received, it is the 5 th installment ( casting of 2nd roof slab ).
    c cluster
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  • Thank you friends :)
    As everyone I purchased at original price .
    I think if we won't be able to sell to any third party , then we might as well be neighbours in ireo Corridoors , good to be surrounded by like minded people & in a good environment . Cheers
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  • well said bro..

    Also i wanted to share that i have received sixth payment request now, which is "casting of 5th floor roof slab" in cluster C.

    Any suggestion ?? How many installment have you paid ??
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  • I am reading this forum after quite some time. I have a unit in Corridors which I am trying to sell but nothing seems to be working out. I wanted to check what options are folks considering. I might be the category of folks who thought of making some money by selling in the interim and dont have the capacity to pay the full amount. I am sure there are other folks who might be in the same situation as mine. Do you know if someone has had any success with legal options or anything else being followed in a group? Would really look forward to some comments please on this forum.
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  • Dear Friend,

    We all are on the same boat, as far as my knowledge there is no legal option as we have signed the agreement and we were not forced to buy this property, now if the market has crashed down, we have no other option then to make the full payment in whatever way possible, and if you will surrender the unit IREO will forfeit the 20% of the total sale consideration minus the brokerage and and service tax, as per the agreement, and we will left with nothing in our hands.
    If someone has some other idea in there knowledge please give your inputs....???
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  • Originally Posted by Rahul kmr
    Dear Friend,

    We all are on the same boat, as far as my knowledge there is no legal option as we have signed the agreement and we were not forced to buy this property, now if the market has crashed down, we have no other option then to make the full payment in whatever way possible, and if you will surrender the unit IREO will forfeit the 20% of the total sale consideration minus the brokerage and and service tax, as per the agreement, and we will left with nothing in our hands.
    If someone has some other idea in there knowledge please give your inputs....???

    Rahul - Thanks for writing back, it is indeed a bad situation. I checked with my broker, he says he never got paid the brokerage for this project, although he sold the units. I didn't quite get what you meant when you said 20% minus the "brokerage"?
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  • I think we should go to court/cm window/town planning board and there are many loop holes in the project from ireo side.

    As the cheque were accepted before licence and building plan were sanctioned later.

    Still ireo have not received licence for certain towers in which they have sold the units.

    None of us were shown the floor plans at the time of booking and plc were charged without consent.

    As i came to know many of guys got refund back.
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  • Originally Posted by Icjdelhi
    I think we should go to court/cm window/town planning board and there are many loop holes in the project from ireo side.
    As the cheque were accepted before licence and building plan were sanctioned later.
    Still ireo have not received licence for certain towers in which they have sold the units.
    None of us were shown the floor plans at the time of booking and plc were charged without consent.
    As i came to know many of guys got refund back.

    This is the first time I am hearing that someone got a refund from IREO, did they file a case and then IREO agreed for the refund? I have see similar messages and heard in general conversations but not getting any concrete information around court / town planning. Any group that's trying to go this route?
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  • Its confirm who are going legal with proof have got refund.

    They got licence on 21/2/13 and the cheque issued were of earlier date.

    After that the building plan was sanctioned and they have done allotment in advance.

    No site plan/no floor plan / no zoning was available at that time and make a valid case.
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  • If you have paid 30% payment, your broker has got the commission for sure. At least my broker claimed and received, i also confirmed the same from IREO.

    And if you surrender the unit or fail to make the payment, IREO will deduct 20% of the total sale consideration excluding brokerage & service tax.

    Hope it clarifies.
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  • Do you have the contact details of the person who got his refund from IREO, because if its true then surely we all must plan some action ??
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  • Yeah, anyone has any pointers or know of anyone who has managed to get a refund on this project? If you can pass on any information of the lawyer / individual who has been able to do this, it would be really helpful. I am ready to part with a good % of the refund if this can be achieved ... I just dont want IREO to gulp this money. You can send me a private message as needed.
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  • Just a gentle reminder..Refund from builder is hardly ever 100%. Very rare. Mostly 15% deduction of the total property cost (BSP) is deducted. In the end you might end up getting nothing or loosing a big amount.

    Pls tk note of that. IREO might have done the same thing. Don't be under the impression of 100%. Unless you are legally correct to chase your refund.
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