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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  • Somebody from IREO told me that they will be launching their next residential project in sector 67A. Rate will be 7500-8000 psf.....Is it worth buying at this rate??? somebody plz advice........
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  • Originally Posted by sachingahl
    Somebody from IREO told me that they will be launching their next residential project in sector 67A. Rate will be 7500-8000 psf.....Is it worth buying at this rate??? somebody plz advice........


    It is definitely costly at these levels.. no doubt about that but yeah Ireo has been successfully climbing the ladder of builder rankings and I expect a good response, no matter what the prices are.

    Second point worth noting is that we do not know what kind of specifications will be offered. It may happen that since the pricing has been increased from the initial thoughts an year or so back, the specs may get improved.We'll have to wait to see that.

    I will most probably give it a miss at these prices. When the resale market looks better than fresh booking markets, its time to go resale shopping :)
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  • thanks for ur valuable comments.........yes it seems to be v costly at 7500-8000.........
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  • any idea when is this project expected to come?
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  • project is being launched in Aug......price range 7500-8000----is it worth booking??? i know a distributor who has been working with IREO since last few years......he is asking me to deposit cheque with him......he is a reliable guy (as far as i m concerned).......But i am not convinced at these rates......comments plz????
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  • Originally Posted by sachingahl
    project is being launched in Aug......price range 7500-8000----is it worth booking??? i know a distributor who has been working with IREO since last few years......he is asking me to deposit cheque with him......he is a reliable guy (as far as i m concerned).......But i am not convinced at these rates......comments plz????


    i have been working with IREO from 2009 .... have always got my investors involved except in IVV as i did not like the location for the concept (a bad call in hindsight)... the 67A project was to roll out at 5500 ... there was talk in the market too, then got pulled off ..... i blv it will be a similar development to Uptown and not a luxury development considering that IREO now needs to put IREO CITY on the map of Gurgaon, and need to plan Super luxury products there .... I expect this to roll out at abt 7000 psft ,targeting the Mid income buyers .... what ever the case IREO generates great returns for INVESTORS though this time i would look to back the investment with 40% of the Asset value with self generated Funds and look to acess the Home Loans there after if i am forced to hold the asset for a longer period ..... Just My VIEWS.
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  • I think that the specs of this would be more like Uptown, rather than high luxury specs. Pricing would be 7500-8000 as thats what IREO's is expecting to quote for new Uptown flats. So again the pricing of this new project will not seem attractive looking at the location and somewhat lower specs.

    If however they come up with some better specs, then it would surely be worth entering.
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  • Below has been posted in another thread but Im posting in this thread also for people to comment on what impact envisaged for IREO 67A

    --------------------------------------------------------------------------------
    Licence to Builder
    TCP Director in soup for violating order
    Saurabh Malik/TNS

    Chandigarh, July 23
    Haryana’s Town and Country Planning (TCP) Director TC Gupta is in trouble as the Punjab and Haryana High Court has held him guilty of violating an order on the issuance of a licence to a builder.

    The matter pertains to two Gurgaon Sectors 63 and 67. After the two sectors were developed, it was found that some internal roads were culminating into dead-ends. This was not all. A nullah or a drain was also flowing between the Sectors.

    The Haryana Government then decided to further develop and extend the sectors in an attempt to solve the problems. The intention was to ensure that internal roads were connected to an outer road; and also to align the drain.

    Instead of naming them as new sectors, it was decided to christen them as Sector 63-A and Sector 67-A. The action was, however, challenged before the Punjab and Haryana High Court.

    Taking up the petition against the same, the high court ordered the maintenance of status quo in the matter.

    But, the authorities concerned went ahead and issued a licence for plotted colonies, resulting in the initiation of contempt proceedings.

    As the case came up for resumed hearing this morning before the Division Bench of Acting Chief Justice Jasbir Singh and Justice Rakesh Kumar Jain, Haryana Additional Advocate-General Randhir Singh defended the action.

    He asserted that the order of status quo was on new allotments and the issue before the court pertained to group housing societies and the common area while the licence was issued for a plotted colony.

    The case will now come up on July 30.
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  • potential impact of court ruling on 63a and 67a projects

    This will at the minimum delay the 67a project and at worse may be scrapped depending on the court judgement.

    as per the media the facts of the case are :


      The high court had, on August 18 last year, directed the state government to maintain status quo on allotment and implementation of the final development plan of Gurgaon-Manesar Urban Complex 2025 published through a notification on May 25, 2011.
      The court orders came on a contempt petition filed by Bimal Kumar Dutta, a resident of Faridabad, who had originally moved the high court last year, seeking directions against the implementation of the Gurgaon-Manesar development plan 2025 due to “faulty” planning of new Sectors 63A and 67A
      Petitioner had asserted that for acquiring 20% of the net planned area, 20 applicants had submitted their application forms on October 4, 2010, when only the draft of development plan had been published. This meant that the proposed beneficiaries had relevant information prior to the plan’s finalisation, it was alleged, also hinting at collusion of government officials.
      Director general of the Haryana town and country planning department, TC Gupta, was on Monday held guilty of contempt by the Punjab and Haryana high court for issuing a licence to private realty developer Anant Raj Industries .



      This, despite the Haryana law officer asserted that the orders of status quo was on new allotments and the issue before the court pertained to group housing societies and common area, while the licence was issued for plotted colony.

      the court is supposed to rule on the punishment for contempt of court on July 30th.

      subsequently if they find that the changes suggested in the 2025 masterplan is not appropriate , then it raises severe doubts about the future of projects in these added sector.

      This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.This is a setback for anant raj & ireo sector 67a project , as it appears in the media.
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  • Any update on the project? It has been a very long wait indeed...
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  • recd an email from a broker stating that there is a soft launch for this project at 8500 Rs psf.
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  • 2031 Masterplan ( still in approval phase though out of first hurdle) shows 67A to be part of it approved area. Lets see the ramifications
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  • Can you pls cutpaste the email contents.

    Originally Posted by SUSHSS
    recd an email from a broker stating that there is a soft launch for this project at 8500 Rs psf.
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  • Originally Posted by Veeejay
    2031 Masterplan ( still in approval phase though out of first hurdle) shows 67A to be part of it approved area. Lets see the ramifications


    67a was always part of the masterplan 2025 itself. The high court had stayed the same based on the petition. Hence again including it in Masterplan 2031 may not help persuade the Honourable High court untill and unless they vacate the stay.

    Let us see how it proceeds. As per IREO they are confident that the stay will be vacated soon and they expect to launch the project by Jan feb time frame. However there is no concrete evidence of that.
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  • are cheques being collected ???

    Originally Posted by SUSHSS
    recd an email from a broker stating that there is a soft launch for this project at 8500 Rs psf.
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