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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

    Yes 7.5% is low. But considering the market conditions, state of the project and infrastructure in that particular sector, i think the consumer is lucky to get his principal amount back. You know IREO offered possesion without developing infra as per BBA. I think this they did just to avoid people asking for their money back as per clause in BBA ( if delay more than a year people can ask for refund with interest) especially considering no appreciation and people not even buying in resale at ireo oriignal sale price.

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

      it is true . investors in Punjab reason have had a big loss in Ireo projects.
      Last edited August 10 2015, 01:23 PM.

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

        Originally posted by amitgargi View Post
        it is true . investors in punjab reason have had a big loss in ireo projects.


        yes in plots...as these were over priced during boom period.


        Their Ireo-Rise project (Low-Mid Rise Flats) in Sector-99 Mohali has done OK. Now near completion. Launched at 2600-2900 psf and now resale 3600-3700+... Company Rate 4500/-

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

          Ireo is sending demand letters every month now. just received 8th floor demand yesterday for C4. previous demands are still pending, what to do ? i am sure they will make the structure ready and then sit idle for next 1.5 yrs. any idea what is the status of demand on A,B,D blocks ? are they only constructing C block fast because maximum would have bought lower ticket size unit and they end up generating more money by onlu constructing these smaller unit blocks ? something fishy is going on in this project...

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

            ...Oh god !!!! i am in C5. You are right progress of AB& D is very slow.So many payments in such short time is ruining financially .....unable to exit due to huge losses ..... SAD venture

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

              Originally posted by shakes12 View Post
              ...Oh god !!!! i am in C5. You are right progress of AB& D is very slow.So many payments in such short time is ruining financially .....unable to exit due to huge losses ..... SAD venture
              shakes12; & Usfreak; How much payment you guys have made till now???
              i have made almost 50% now, and unable to pay more.... what you guys are planning ??
              Last edited August 24 2015, 12:06 PM. Reason: Text Formatting and mentioned user

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

                If you dont pay its 20% fine on outstanding amount & this they will recover at resale time . Taken a bank loan ...... atlast when its inevitable then be

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

                  They have raised demand till 62.5% for C5 atleast, have paid 55% till now. Even with HL, it is going to be very difficult carrying this forward. Anyone has any news of any resale happening in this project at all ?

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

                    Some one please click a long video of the project please !

                    Good or worse , now we all would be only saved ....when this project is completed & handed over to Buyers till then we are their mercy & they also know it .

                    I am sure Ireo Management also checks this forum .
                    Last edited August 31 2015, 12:35 PM. Reason: Text Formatting

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

                      Another blow to the investors against the Fight against Ireo's Malpractice ..but the fight must go on

                      Competition Comm rejects complaint against Ireo Grace Realtech
                      Press Trust of India | New Delhi
                      August 31, 2015 Last Updated at 18:28 IST



                      ALSO READ


                      The Competition Commission has rejected a complaint alleging unfair business practices by Ireo Grace Realtech in a matter related to sale of residential apartments.

                      It was alleged that the company indulged in anti-competitive business practices by increasing the basic sale price for a residential apartment in Gurgaon, Haryana.

                      After finding that there was no prima-facie evidence of violation of competition norms, the watchdog decided to reject the complaint.

                      It was also alleged that the company did not repay the booking amount even after the complainant decided to cancel the provisional allotment.

                      As per the complaint, the company had earlier assured that Basic Sale Price (BSP) of the flat would be Rs 15 lakh but later demanded more than Rs 18 lakh.

                      The Competition Commission of India (CCI) considered "provision of services for development and sale of residential apartments in Gurgaon" as the relevant market for the case.

                      According to the regulator, there are many other bigger and established players in the relevant market of residential apartments in Gurgaon including DLF Homes, Emaar MGF and BPTP.

                      Further, the residential apartments being developed by other major players are substitutable and provide multiple options for the consumers in the relevant market, it added.

                      Thus, "prima facie, opposite party (Ireo Grace Realtech) does not appear to be in a dominant position in the relevant market," CCI said in an order dated August 25.

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