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The Corridors by IREO Developers in Sector 67A, Gurgaon

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The Corridors by IREO Developers in Sector 67A, Gurgaon

Last updated: January 12 2021
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  • #1321
    #1321

    Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

    Originally posted by sh-saxena View Post
    Want to understand how are the risks favourable.
    Isnt there a liquidity risk, you may not find an enduser buyer easily who may prefer better locations at lesser cost/no escalation clause which may lead to the investor being overleveraged.

    As for rewards, almost any underconstruction project can yield 1000 rs/year in GCX currently.
    Going with your argument ...when all the other options with better locations & lesser prices have been exhausted ...end users will certainly find their way here too
    all these better cheaper location projects will be completed much before this one ..., when amidst of a developed school , shopping complexes and surrounded by your better located nice big projects.. Value by vicinity ..till then enjoy the ride of a tight cash flow
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    • #1322
      #1322

      Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

      This project is a stone's throw away from IVV. It seems improbable to me that when IVV touches 12500, this project will not be 11000+...

      Now factor in the difference of cash flow... and I see a no brainer as to what will give far superior ROI...
      I sell my Talent to your Reason...
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      • #1323
        #1323

        Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

        I got a demand letter to pay 20% minus booking amount plus service tax. 20% includes parking psqf which is 650. I have asked response from Ireo that how can they say so even when I don't know total cost of my flat. Even no payment plan and even no written confirmation of unit allotment. I am waiting for their response. Did anybody else talked or opposed to this move of Ireo?
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        • #1324
          #1324

          Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

          Most of the investment logics in gurgaon have centred around problem of "Scarcity" in gurgaon so far. In the bargain all the investments have created another demon to check any future price trends... and that demon is going to be problem of "Plenty".

          From the time gurgaon became altentative to high residential and commerical costs in Delhi, RE investments in gurgaon have enjoyed unprecedented returns as there was substantial gap between demand and supply. Along with this rise which was initially fuelled by pent up demand, global investment frenzy brought along investment dollars in plenty. In the first phase till the existing demand got met, prices kepts rising northwards.

          In the second phase, India growth story, and future demand was advocated and that kept the investment coming to gurgaon. Now the most relevant question that needs to be asked is how much is enough? What kind of supply would be enough to cater to current and future demands. And if we talk about future then are we talking about 3,5,7,10 12 years??? And if the horizon is that far then what is the risk appetite, holding power of the investors???

          All these answers would come in 2013-2014. I had predicted that to happen in 2012 but it didnt happen because most of the projects got stuck due to want to EC.
          Now most of the EC getting cleared and construction going on full swing in most of the projects, the real acid test of holding power is awaited in 2013.

          This is where most of the porjects, price, investors holding power would be tested.

          With respect to 67a, even if every thing works for it, a supply of 2000 appartmemts would always test its future price rise. If the project offers more than what we know as on today and brings in a proposition that dwarfs all the negatives then the returns would keep coming.

          The bigger question as of today is Supply in each corridor and the holding power of investors. Gurgaon is 90% investment driven and most of the investment is from the service class people. We have reached one of the lowest points of key economic indicators of last decade. If the growth rates keeps faltering and the investment cycle dosent improve, it would bring serious job cuts in the economy.

          Those reading this post at the moment, and are in a job would know what I am talking about. There is a tremendous job pressure to perform or perish and every one knows that today its all about surviving. So right from economy, to organizations to businesses, its going to be the survival of the fittest.

          So how long RE would not get impacted with it. Bottom line in RE would also be survival of the fittest and by fittest I mean as follows :-

          1. Location, Location and Location.
          2. Price. Price and Price.
          3. Construction in full swing.
          4. Livable as on today.
          5. No more future stories to be told. Every thing under the sun has already been sold millions of times.


          So my advise at this point of time :-

          1. Stop Leveraging.
          2. Look For the projects as per above mentioned 5 point check list .
          3. Go Ahead if you have holding power for 5 years from today.

          Long term story is only intact provided one has enough reserves/cash flow to survive short and medium term.

          All the best

          RA
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          • #1325
            #1325

            Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

            Originally posted by Lazybell View Post
            This project is a stone's throw away from IVV. It seems improbable to me that when IVV touches 12500, this project will not be 11000+...

            Now factor in the difference of cash flow... and I see a no brainer as to what will give far superior ROI...

            corridor is comparable if at all to uptown and that too in an inferior location with no infra at all planned for near future and when uptown is 12500 k , maybe then 11k for corridor is anywhere near comparable ( for actual transaction not paper ones ). that too assuming no escalation in base price for corridor which is a killer . Ofcourse it is a no brainer . Most importantly one will see lot of transactions in uptown but corridor , let us see.
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            • #1326
              #1326

              Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

              Originally posted by Want2BuyGGN View Post
              I got a demand letter to pay 20% minus booking amount plus service tax. 20% includes parking psqf which is 650. I have asked response from Ireo that how can they say so even when I don't know total cost of my flat. Even no payment plan and even no written confirmation of unit allotment. I am waiting for their response. Did anybody else talked or opposed to this move of Ireo?
              I got nice hard bounded calendar also with the letter ..
              They asking for 10% more ..so the total amount will be 20% of BSP ! They are offering a provisional allotment & acknowledgement of the payment received. They want the payment by the first week of May ! ....
              My though ..they are launching this project by the the second week of May , that must be the correlation for this demand .
              They have upgraded their IREO app on 3 days back ! Preparation for the launch ...maybe
              Yes ...better to meet the company representatives ..I hear they have an RM allotted to each flat allottee .....

              I think now the investors are invested in this project ...this thread should be about something constructive where investors to this projected freely exchange the on going of this project , instead of being hi jacked with the usual IREO bashing , all the DLF & Bestech and other dealers ...oops investors plz excuse
              Last edited April 21 2013, 01:49 PM.
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              • #1327
                #1327

                Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                Originally posted by rushilarora View Post
                Most of the investment logics in gurgaon have centred around problem of "Scarcity" in gurgaon so far. In the bargain all the investments have created another demon to check any future price trends... and that demon is going to be problem of "Plenty".

                From the time gurgaon became altentative to high residential and commerical costs in Delhi, RE investments in gurgaon have enjoyed unprecedented returns as there was substantial gap between demand and supply. Along with this rise which was initially fuelled by pent up demand, global investment frenzy brought along investment dollars in plenty. In the first phase till the existing demand got met, prices kepts rising northwards.

                In the second phase, India growth story, and future demand was advocated and that kept the investment coming to gurgaon. Now the most relevant question that needs to be asked is how much is enough? What kind of supply would be enough to cater to current and future demands. And if we talk about future then are we talking about 3,5,7,10 12 years??? And if the horizon is that far then what is the risk appetite, holding power of the investors???

                All these answers would come in 2013-2014. I had predicted that to happen in 2012 but it didnt happen because most of the projects got stuck due to want to EC.
                Now most of the EC getting cleared and construction going on full swing in most of the projects, the real acid test of holding power is awaited in 2013.

                This is where most of the porjects, price, investors holding power would be tested.

                With respect to 67a, even if every thing works for it, a supply of 2000 appartmemts would always test its future price rise. If the project offers more than what we know as on today and brings in a proposition that dwarfs all the negatives then the returns would keep coming.

                The bigger question as of today is Supply in each corridor and the holding power of investors. Gurgaon is 90% investment driven and most of the investment is from the service class people. We have reached one of the lowest points of key economic indicators of last decade. If the growth rates keeps faltering and the investment cycle dosent improve, it would bring serious job cuts in the economy.

                Those reading this post at the moment, and are in a job would know what I am talking about. There is a tremendous job pressure to perform or perish and every one knows that today its all about surviving. So right from economy, to organizations to businesses, its going to be the survival of the fittest.

                So how long RE would not get impacted with it. Bottom line in RE would also be survival of the fittest and by fittest I mean as follows :-

                1. Location, Location and Location.
                2. Price. Price and Price.
                3. Construction in full swing.
                4. Livable as on today.
                5. No more future stories to be told. Every thing under the sun has already been sold millions of times.


                So my advise at this point of time :-

                1. Stop Leveraging.
                2. Look For the projects as per above mentioned 5 point check list .
                3. Go Ahead if you have holding power for 5 years from today.

                Long term story is only intact provided one has enough reserves/cash flow to survive short and medium term.

                All the best

                RA
                Very well articulated as always sir and brings to fore what has changed in the last few years , is the distinct possibility of significant job cuts , which was never there before. Pressure to perform is like never before in the last decade or so.

                One can sustain interest rates cycle by cutting / deferring costs , one can not sustain an investment in the absence of the source of income. The extent of this factor will define the stress on the buying cycle.

                Wether the macro improvement is sustainable is an important factor one needs to judged , if it is then the stress will be reduced. If the uncertainty on macros persists , election uncertainties cloud decision making, the companies will be under huge stress and so will be the RE companies and the buyers/ investors. The resultant liquidity issues will make people delay their projects significantly and thus improving projects near RTM/ RTM.

                The impact of EC delay is still not over, with the committee not having met for more than 5 months now ( since december mid ) and unlikely to meet for another few months , due to the expiry of chairman, there will another chain of delays on projects under approval. This will push lot of inventory further out and help relieve some of the demand/ supply gaps that have still sustained some of the high prices.The new licences are also more or less paused , as a quota has been exceeded. This will ensure that the price pressure on RTMs/ near RTMs are reduced because of deferment of anticipated inventory , which is more spread out.

                so your recommendation on choosing projects based on 5 points makes perfect sense in these times and so does the 3 point advice.
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                • #1328
                  #1328

                  Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                  Originally posted by Norway View Post
                  I got nice hard bounded calendar also with the letter
                  They asking for 10% more ..so the total amount will be 20% of BSP ! They are offering a provisional allotment & acknowledgement of the payment received. They want the payment by the first week of May ! ....
                  My though ..they are launching this project by the the second week of May , that must be the correlation for this demand .
                  They have upgraded their IREO app on 3 days back ! Preparation for the launch ...maybe
                  Yes ...better to meet the company representatives ..I hear they have an RM allotted to each flat allottee .....

                  I think now the investors are invested in this project ...this thread should be about something constructive where investors to this projected freely exchange the on going of this project , instead of being hi jacked with the usual IREO bashing , all the DLF & Bestech and other dealers ...oops investors plz excuse
                  Good to hear that they have an RM allotted to each allottee, they are from CRM team i presume. do update if and when you know the launch date .


                  I will let the mods decide what should be or not be discussed in a thread and if any posts are relevant or not relevant to the thread . The surest way of inviting " what you call ireo bashing " , is comments like, " instead of being hi jacked with the usual IREO bashing , all the DLF & Bestech and other dealers ...oops investors plz excuse ", maybe you have started enjoying these comments .
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                  • #1329
                    #1329

                    Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                    Originally posted by kinjalchato View Post
                    Good to hear that they have an RM allotted to each allottee, they are from CRM team i presume. do update if and when you know the launch date .


                    I will let the mods decide what should be or not be discussed in a thread and if any posts are relevant or not relevant to the thread . The surest way of inviting " what you call ireo bashing " , is comments like, " instead of being hi jacked with the usual IREO bashing , all the DLF & Bestech and other dealers ...oops investors plz excuse ", maybe you have started enjoying these comments .
                    It was said in good humour ..sorry if I offended anyone !
                    We all here to make money from RE , not to fight or take things personally , no amount of posts from me or anyone can either break or make a project ...that the market will do ..
                    I have invested in DLF , Ansals , Bestech ..mostly all the big builder from one time or other all over NCR ! I am loyal to no builder just to my $$ , good suggestions are always welcome
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                    • #1330
                      #1330

                      Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                      Originally posted by sh-saxena View Post
                      But all investors will need an enduser. Already sales are so sluggish in all high-priced projects whereever an enduser is reqd.
                      Anyways, from say a 3+ years holding perspective, its an ok buy (but not a better buy than the other cheaper, better located, similar specs project which dont have undefined escalation clauses).
                      The disadvantage of investing in such projects where you have high price and expectation of investor.

                      That is why all investments should be done in my opinion keeping end user in mind rather then amenities.

                      Cheers !!!!
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