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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

    Originally posted by kinjalchato View Post
    I agree a lot of well meaning people like cheekyalan, shsaxena , rushilji , stanger and few others had expressed deep concern on the high level of pricing , and the fact that ireo business model will force it to monetize its assets faster .

    besidesthere were other issues like escalation clause as well .

    while it may turn out well for end user , for investors it will be a very tough journey if they start construction .
    kinjal ji I am even today very skeptical about the ROI that even the end users who bought initially would see on their investment. High debt nursing cost for the buyers located in India would make it tough for them and the NRI buyers located outside India will first of all have to see how long it takes for them to make good the losses they have already suffered in terms of Rupee devaluation which has already taken place. The tide of time goes against both of them.

    We await some quick economic miracle to happen and give relief to all investors and end users. In such a scenario all other projects will piggyback the economic improvement and gain as well.

    Cheers.

    CA.

    Comment


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

      Originally posted by Cheeky AlAn View Post
      kinjal ji I am even today very skeptical about the ROI that even the end users who bought initially would see on their investment. High debt nursing cost for the buyers located in India would make it tough for them and the NRI buyers located outside India will first of all have to see how long it takes for them to make good the losses they have already suffered in terms of Rupee devaluation which has already taken place. The tide of time goes against both of them.



      We await some quick economic miracle to happen and give relief to all investors and end users. In such a scenario all other projects will piggyback the economic improvement and gain as well.



      Cheers.



      CA.

      I had initially pointed out on the issue of exorbitant pricing for the location and dubious clauses such as escalation and parking.

      At the price of close to 10k all inclusive for the said location the builder actually factored the price property would demand in 2016-17 when it comes to delivery. Hence for both the kind of buyers (EU and Investor) its gonna be huge burden.

      We have fought with the builder in greenopolis as a group to get rid of escalation clause and are currently pursuing with builder on other issues such as excess EDC/IDC, Parking charges, club development charges, completion definition, Super area increase clause, super area calculations and many more.

      We so not think that we would be able to push builder on all the counts but are sure we can make a difference on few issues. Escalation clause removal is one such huge but one if the successes we have achieved so far.

      But now the battle gets tough and need more members to prick the thick skin of builders and persistent efforts by association.

      Would suggest that all buyers get together and form an association and fight out these issues. As a fellow group we could help share the learnings if required and our associations with other project associations can take on the greed on builders in general.

      I know that there are some ardent fans of IREO here but believe me the so called different builder (hatke) has no connection now with IREO too... It has joined the prestigious rouge builders of Gurgaon.

      We at Greenopolis Welfare Association are happy to help fellow buyers of RE. Visit the association website (add below)


      Join Greenopolis Welfare Association: Visit greenopolis.wix.com/our-gwa

      Comment


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

        There is no doubt that a price of 10k even without any escalation clause was atleast 40%higher than what it should have been.

        Now a few months after launch is anyone even getting the cost price in resale market.


        Originally posted by krishna99 View Post
        I had initially pointed out on the issue of exorbitant pricing for the location and dubious clauses such as escalation and parking.

        At the price of close to 10k all inclusive for the said location the builder actually factored the price property would demand in 2016-17 when it comes to delivery. Hence for both the kind of buyers (EU and Investor) its gonna be huge burden.

        We have fought with the builder in greenopolis as a group to get rid of escalation clause and are currently pursuing with builder on other issues such as excess EDC/IDC, Parking charges, club development charges, completion definition, Super area increase clause, super area calculations and many more.

        We so not think that we would be able to push builder on all the counts but are sure we can make a difference on few issues. Escalation clause removal is one such huge but one if the successes we have achieved so far.

        But now the battle gets tough and need more members to prick the thick skin of builders and persistent efforts by association.

        Would suggest that all buyers get together and form an association and fight out these issues. As a fellow group we could help share the learnings if required and our associations with other project associations can take on the greed on builders in general.

        I know that there are some ardent fans of IREO here but believe me the so called different builder (hatke) has no connection now with IREO too... It has joined the prestigious rouge builders of Gurgaon.

        We at Greenopolis Welfare Association are happy to help fellow buyers of RE. Visit the association website (add below)


        Join Greenopolis Welfare Association: Visit greenopolis.wix.com/our-gwa




        Sent from my iPad using Tapatalk

        Comment


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

          Well since it was sold at 8750 and at present the market is about 15% below the prices we had in march/april, so I dont how investors who invested at that price would be able to make an exit.

          I get a lot of calls from investors willing to exit at cost to cost basis but there are no takers.

          Some people have bought at the launch price of 9400, they are doomed big time.





          Originally posted by MikeyProp View Post
          There is no doubt that a price of 10k even without any escalation clause was atleast 40%higher than what it should have been.

          Now a few months after launch is anyone even getting the cost price in resale market.








          Sent from my iPad using Tapatalk

          Comment


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

            is any resale happening in this project!!! has anyone sold or purchased in resale??? any way out to exit this project?? how long should we be prepared to wait???

            Comment


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

              Originally posted by kams.. View Post
              is any resale happening in this project!!! has anyone sold or purchased in resale??? any way out to exit this project?? how long should we be prepared to wait???
              There are lot of units up for sale at no premium basis. As for deals, I havent heard of any. This project was doomed the moment Ireo declared the pricing. This was supposed to be a sub 5k project. Even with inflation it should have never crossed 6.5k... Now with the uncertain market conditions it is difficult to say when it would really give any tangible returns. The idea should to be to hold for long term and try to reap benefits. If people cant hold for returns, they should sell at cost ( if feasible.. or for a little less, if not feasible) and deploy "stop loss".
              sigpicWe are the ones who wanna choose..Always wanna play ..but we never wanna loose!!!

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

                any news on nxt demand ??

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

                  Bad news guys ireo has raised demand for excavation

                  Comment


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

                    can we reach to the site and see the development...please guide if any one have gone so far

                    Comment


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

                      Last year when project was pre-launched, I'd tried to reach the site but it was unreachable being in midst of flowing fields and no road. Not sure if thats the same state now also or some kind of road access has been created.
                      Ask IREO for a site visit, they cannot refuse a site visit to the buyers.

                      Originally posted by samie001 View Post
                      can we reach to the site and see the development...please guide if any one have gone so far
                      Last edited March 20 2014, 11:58 AM.

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