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

    Absolutely correct sh...builders greed will stun you everytime...on the same logic let me hazard a guess...could it be that DLF owns more apartments in Icon than in Park Place so as to bear less maintenance cost on itself...just a theory

    Originally posted by sh-saxena View Post
    Oh ok, my mistake to misunderstand.
    But unfortunately economies of scale dont work in Gurgaon due to builders greed e.g. the maintenance of Park Place (around 1500 apartments) is charged higher than Icon with (380 apartments) by DLF.

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

      Some Myths broken about Ireo:

      - Myth 1- It is a cash rich company unlike DLF & unitech - myth broken when they have to sell land to Mahindra.
      -Myth 2- it is ethical company with management comprising some big names- myth broken when they did a liiegal pre launch against the rule of land of India.
      - Myth 3- It is a customer friendly co - myth broken ..Corridors payment plan( seems to be a photocopy of B grade builders like Earth/Tashee) is a perfect indicator that IREO is no DLF/Unitech. The payment plan taking 90% on structure is an indicator of lack of self confidence in completion of project and deteriorating cash position.

      I suspect soon they would come with never heard maintenance charges and increase in super area.
      Last edited December 31 2015, 12:22 PM. Reason: Text formatting.

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

        Agree with you there but mine was more of an enduser's viewpoint rather than a 30% investors viewpoint, so the staggered payment advantage is negated by below in my mind.
        - IREO will manage to take 75% payment for this in first 2 years.
        - Corridors will be delivered around 6 years after Uptown and 4 years after IVV is delivered.
        - Corridors has an escalation clause which other IREO projects do not have.

        Originally posted by Lazybell View Post
        The maths works differently. To keep cash flow same, the comparison should be to rate/cost in Down Payment Plan. That will be a valid comparison.

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

          As per some Icon residents who have flats in Park Place too, Park Place maintenance is higher than ICON's especially considering the Club/Pool have not even started. Will find out the exact charges.

          I think IREO will be on the higher side, infact I think all GCX projects will charge on the higher side. ICON charges currently works out to Rs 2.5/sqft/month (maintenance and services are quite good) so I would assume atleast 50% higher in new projects if not more !!

          Originally posted by rushilarora View Post
          Whats the maintenance charge of Park Place...

          And any gut feel of Maintenance charge that IREO might levy on all its projects?
          Last edited August 7 2013, 08:08 PM.

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

            Nope, it must be the other way round
            DLF owns hardly any apartments in Icon which was delivered 4 yrs back (as per their monthly magazine, Icon is 95% occupied).
            But Im sure they still have inventory left in Park Place.

            Originally posted by Varun83 View Post
            Absolutely correct sh...builders greed will stun you everytime...on the same logic let me hazard a guess...could it be that DLF owns more apartments in Icon than in Park Place so as to bear less maintenance cost on itself...just a theory
            Last edited August 7 2013, 09:19 PM.

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

              All said and done , looking at the multiple amenities , sports facilities and size of the project , this doesnt seem too bad an investment right now , considering the staggered payment plan . Also this project does have a unique USP like all different projects of ireo , this one has plethora of amenities , sporting facilities .
              Purely from investment point of view till around 50-60 % payment goes , considering the cash flow , this should be one of the better returns giving project .
              Just my hunch ... everyone is entitled to their own opinion .

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

                Purely from the Point of View of Amenities and Specs of Project : Thumbs UP.

                From the price point, if you are a Medium Term Investor : Thumbs UP.

                If you, consider that Golf course Road Signal Free plan and Rapid Metro Extension will be completed in 3 years : Thumbs UP

                IREO GRAND ARCH Progress : Thumbs UP

                Not yet delivered a Single Project : Thumbs Down.

                Essentially, if you are willing to come out of the DLF / UNITECH mindset, its a 100% GO AHEAD from every other angle.

                I have never quite liked any of the DLF Malls, or Residential complexes. Most are poorly planned. And probably the only plus point is location.

                IREO May just bring about a Refreshing Change in this Dull and boring Gurgaon RE Market.

                INVEST if you are holding Cash.

                Disclaimer : I am not invested in this project.
                Last edited August 8 2013, 08:37 AM.

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

                  Allotment letter received with one month time to sigh the BBA . BSP shown as 9400 ( 8750 + 650 ;parking )

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

                    Norway sir 11-12 lakh ki parking??

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

                      Originally posted by amit001 View Post
                      Norway sir 11-12 lakh ki parking??
                      Helicopter ke parking charges itne hi hote hain, Amit Jee !
                      If it was easy, everybody would be doing it.

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