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 .
Read more
Reply
1985 Replies
Sort by :Filter by :
  • well , i guess all this talk of units available at 5500ish rght now is non sense , i have been told due to m interaction with a no. of brokers(3 to be precise) who have been associated with IREO from the time it launched its first project is that -

    1) The co. has not accepted any cheques in original as of now
    2) But they have accepted cheques copies fr limited units at 5550 and 5950 (they had said they would acept at 5750 as well but eventually they didnt due to response they got at 5550) respectively and those which have been approved verbally by them would get the units allotted at those prices only ( they said its standard procedure for IREO , as same thing happened with skyon pre pre and prelaunch)
    3) The co. launch has been delayed by not 1 but 2 months !!!
    4) Co. is accepting cheques no more at even 5950 as it has sold the inventory it wanted to
    5) co. will launch at 6350 ( tentaively , i added tentatively myself as something likeincrease in price happened at 5750 to 5950 )

    I can say this as i have been seriously considering investing in a projct or two since i have disposed a property of mine a month or two back (very near to completion ) and was looing for a good avenue to invest , since couldnt find anything good , i was trying to settle for something decent enough by investing at 5500 in ireo new project but all of them refused that they cannot do that !!

    i would request people to forward me the broker details who can offer it at 5500 , but only if it is a tried and tested one and i wont be cheated/robbed by the broker by accepting chequ at 5500and debiting it at a higher price at launch/pre launch !!! help would be appreciated alot !
    CommentQuote
  • Originally Posted by ISHANb
    well , i guess all this talk of units available at 5500ish rght now is non sense , i have been told due to m interaction with a no. of brokers(3 to be precise) who have been associated with IREO from the time it launched its first project is that -

    1) The co. has not accepted any cheques in original as of now
    2) But they have accepted cheques copies fr limited units at 5550 and 5950 (they had said they would acept at 5750 as well but eventually they didnt due to response they got at 5550) respectively and those which have been approved verbally by them would get the units allotted at those prices only ( they said its standard procedure for IREO , as same thing happened with skyon pre pre and prelaunch)
    3) The co. launch has been delayed by not 1 but 2 months !!!
    4) Co. is accepting cheques no more at even 5950 as it has sold the inventory it wanted to
    5) co. will launch at 6350 ( tentaively , i added tentatively myself as something likeincrease in price happened at 5750 to 5950 )

    I can say this as i have been seriously considering investing in a projct or two since i have disposed a property of mine a month or two back (very near to completion ) and was looing for a good avenue to invest , since couldnt find anything good , i was trying to settle for something decent enough by investing at 5500 in ireo new project but all of them refused that they cannot do that !!

    i would request people to forward me the broker details who can offer it at 5500 , but only if it is a tried and tested one and i wont be cheated/robbed by the broker by accepting chequ at 5500and debiting it at a higher price at launch/pre launch !!! help would be appreciated alot !



    WHat I have heard is that the land has a stay on it , and that is the reason for project being delayed by another 1-2 months...
    CommentQuote
  • Originally Posted by amit.bhalla
    WHat I have heard is that the land has a stay on it , and that is the reason for project being delayed by another 1-2 months...


    although not aware of the reason fr delay but as of now according to the information shared with me , the launch has been delayed by 2 months !
    CommentQuote
  • I have been told something similar by a Broker & as per him, delay could be much more than the currently anticipated 1-2 months .

    Originally Posted by amit.bhalla
    WHat I have heard is that the land has a stay on it , and that is the reason for project being delayed by another 1-2 months...
    CommentQuote
  • Dear Ishan,

    I am really surprised how you missed in this opportunity... I remember sometime in June you had posted your first comment on this property and i GUESS at tht time it was available for 5500... Just dont understand the reason why this project 2 months back was looking expensive at 5200 and now people are still ready to buy at 6300.... Dont know the exact location but I am sure its not on main Gcx and still IREO decides to sell it at 6300????

    How keen are you on buying this property. I am sure if u go to some of their big channel partners you can still get it at 5500... 2000 appt is a big inventory to sell these days when the interest rates are so high....





    Originally Posted by amit.bhalla
    WHat I have heard is that the land has a stay on it , and that is the reason for project being delayed by another 1-2 months...
    CommentQuote
  • Well your question about what hapened in 2 months is a actually a mystery to me as well , and what 2 months back seemed like expensive by 500 per sq ft only looks to be 200-300 expensive than its actual worth !i am considering this if i get it at 5500 .
    Also considering the size of the complex and club facilities we are talking about coupled with the sizes on offer(1200-1400 sqft) along with the brand equity of IREO and also considering the FACT that IREO only takes 20 % before start of construction , its sounding quite a decent proposition to me , as i dont find any other project in the span of 3-4 months launching which could/would suit my appetite as i am looking for something with a short term prospect !!

    I am kind of keen on this one for a unit or may be 2 if i can get it at first price, i.e similar to 5500 (although i have contacted quite a few brokers and none can get me at those prices ) dont know hwo people in the forum are getting it at 5500 !!!!



    Originally Posted by rushilarora
    Dear Ishan,

    I am really surprised how you missed in this opportunity... I remember sometime in June you had posted your first comment on this property and i GUESS at tht time it was available for 5500... Just dont understand the reason why this project 2 months back was looking expensive at 5200 and now people are still ready to buy at 6300.... Dont know the exact location but I am sure its not on main Gcx and still IREO decides to sell it at 6300????

    How keen are you on buying this property. I am sure if u go to some of their big channel partners you can still get it at 5500... 2000 appt is a big inventory to sell these days when the interest rates are so high....
    CommentQuote
  • even i have seen layout...not impressive ....rooms like train
    CommentQuote
  • Public Notice IREO

    Gothrough this:
    Hindustan Times 25-Aug

    Hindustan Times
    Attachments:
    CommentQuote
  • Dear Ishan,

    Your assessment sounds very tempting to me as well... Its crazy how things change in a span of just 2 months.... I use to get so many calls 5500 with 2.5% passback and now as you are saying its not available..

    Also just saw the ad in HT where IREO has washed off its hand from this property through a disclaimer...

    Really dont know whats going on... Havent seen so much confusion before any launch till date....

    Do let me know if you get it 5500 . May be I will try my luck on this property as well.


    Originally Posted by ISHANb
    Well your question about what hapened in 2 months is a actually a mystery to me as well , and what 2 months back seemed like expensive by 500 per sq ft only looks to be 200-300 expensive than its actual worth !i am considering this if i get it at 5500 .
    Also considering the size of the complex and club facilities we are talking about coupled with the sizes on offer(1200-1400 sqft) along with the brand equity of IREO and also considering the FACT that IREO only takes 20 % before start of construction , its sounding quite a decent proposition to me , as i dont find any other project in the span of 3-4 months launching which could/would suit my appetite as i am looking for something with a short term prospect !!

    I am kind of keen on this one for a unit or may be 2 if i can get it at first price, i.e similar to 5500 (although i have contacted quite a few brokers and none can get me at those prices ) dont know hwo people in the forum are getting it at 5500 !!!!
    CommentQuote
  • IREO 67A - Public Notice

    Friends,

    The attached public notice has appeared in today's Hindustan Times. Its from a company called "Precision Realtors Pvt Ltd". What relation has it got with IREO? Is it one of the promotor associates? Or its a broker company?Kindly share your views.

    Thanks,
    CommentQuote
  • The notice is not on IREO's Site

    Dear Friends, I have also been tracking this project ... but felt that the pricing was very very aggressive.. Even at 5500...

    I am surprised however that IREO is trying to wash of its hands from the project. This precision realtors appears to be a paper company as Google does not seem to throw up any result on it. A couple of senior members have suggested that this is possibly because the land is under litigation? If that is the case then IREO would not get a license, without which IREO cannot launch. Somehow I get a murky feeling ... Senior members please comment -
    CommentQuote
  • The land being under litigation is speculation, as of now .

    Let's refrain from arriving at a decision, till things r clear .
    CommentQuote
  • Such unprofessional stance is not expected from a Co like Ireo.

    First they fuelled air with 5100 , followed by 5200 - 5550 and 5950 and now suddenly with no show - completely evaporated.
    CommentQuote
  • Google on the address given and the same address is given on IREO's own site also (Real Estate Gurgaon NCR Properties in Gurgaon Buy Property Delhi NCR Real Estate Prices Investors Buying Real Estate in India Plots) in a letter.

    So this notice mustve been put by IREO themselves due to some legal, complex and also fishy reason else they would have put their logo clearly on the communication.
    CommentQuote
  • Yes i agree that litigation is only suspected - as a matter of fact i think it is nothing more than speculation, cause IREO (or any other builder for that matter) cannot launch a project without TCP's license, and TCP wouldnt issue license on under litigation land as that may amount to interference with court procedure
    CommentQuote