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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  • Originally Posted by ukbuddy1002
    Is Dec/Jan (Whatever is the date), official launch or Pre-launch only ?

    I noticed that this thread started in June 2011, so is the pre-launch done or not ?



    Its a pre launch then and it would be the first rate
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  • Can someone comment on different IREO projects - launch date, booking price, current resale? I am trying to get a sense of market whether it makes sense to invest in or buy another IREO in resale?

    Victory Valley-
    Uptown -
    Grand Arch -
    Skyon -
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  • Originally Posted by amit001
    VV is just at the start of the sector actually at the cross section of 66/67 bang on main sector road, making its location probably the best in an overall weak sector like 67..Actually its more like 66...

    new project will be at the end of the sector but nevertheless location looks fine as it will have access from main sector road.


    Let us understand the type of developments that are happening in and around sector 67 . Sector 67 is in a junction of 2 60m sector roads, and has the following commercial retail projects which are coming :

    1. IVV , , m3m merlin , ansals essencia and parkview spa adjacent to each other.

    2. M3m urbana , landmark , bharti realty all in walkable distance

    3. shriram school walkable distance.

    The first sector where lot of sewage work going on.

    connectivity :

    direct 60m sector road to GCx and another 60m sector road to Ireo city and from there via gurgaon faridabad road to south delhi via the newly approved road being created by delhi government. on the back the newly proposed 90m road connecting sector 63a to nh8 via sector 67a.

    so i am not sure by which benchmark is it overall weak sector . there is hardly any difference between sector 66 , 67 or 65 in terms of connectivity in the overall scheme of things. It is like saying one end of sohna road is better than other end , both are separated by aroung 2 to 3 km distance , which is nothing. if it takes x minutes to reach a place from sector 66 or 65 , it may take x +2 more minutes or lesser depending on where you need to go., one needs to live in this part to experience what i am saying.

    However currently there is no road to sector 67a , all is proposed in the masterplan and should come in due course. while 67 is absolutely well connected
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  • I agree with you KC

    what I means was that the location of IVV is great as it is at the junction of 2 sector road and its location is as good as any project in 65/66/67

    However some other projects in sec 67 like Bestech/ansal are too close to a village making their location little weak.
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  • Guys I'm looking to sell my 1500 sq ft apr in victory valley. I don't live in India. Please advise. Can come down and close it.
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  • hows is the location of this project?

    i had seen one thread where it is written 67a is poorer location i just wanted to know the reason any idea how far is bestech park view next sector 67
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  • Originally Posted by abhay1991
    hows is the location of this project
    i had seen one thread where it is written 67a is porrer location i just wanted to know the reason any idea how far is bestech park view next sector 67


    It depends on the time horizon. as of today there is no road to sector 67a as the current 60m road ends abruptly in between 67 & 64 sector. In future , as per masterplan 2031, the sector road as well as bypass road which interconnects 63a sector to nh8 will be there. so yes, it is further down / behind sector 67.

    bestech project is alongthe other 60m road, which is incomplete. It ends up in badshahpur village and bestech is the last project in this sector road, just next to badshahpur village on one side.

    Trust that explains it, a map as shown by amit or wikimapia will be most helpfull to understand it better.
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  • Originally Posted by amit001
    I agree with you KC

    what I means was that the location of IVV is great as it is at the junction of 2 sector road and its location is as good as any project in 65/66/67

    However some other projects in sec 67 like Bestech/ansal are too close to a village making their location little weak.


    You are right amit , probably i misread your post.
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  • amit and kc ji how do u see this new project for investment point of view for 2 years
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  • Originally Posted by Manish1977
    Can someone comment on different IREO projects - launch date, booking price, current resale? I am trying to get a sense of market whether it makes sense to invest in or buy another IREO in resale?

    Victory Valley-
    Uptown -
    Grand Arch -
    Skyon -


    rushil post / thread is one of the best that addresses this query as he had undergone the same process as you had . It is important to know the investment objective , as depending on that and several other factors only it would be possible to compare these widely different projects .

    On your specific query let me try to answer

    1. Launch Date :

    IVV - 26th May, 2010
    Uptown - 26th November, 2009
    Skyon - 4th Feb, 2011
    GA - 25th september, 2009

    2. Booking Price : will vary from individuals depending on when it was bought as Ireo has been periodically releasing inventory and revising prices. However the prices at the time of booking are as under :

    IVV - 5800 ( Towers only , mid rise were 6500 to the best of my knowledge )
    Uptown - others can add
    Skyon-others can add
    GA - 4550 for non arch & 4950 for arch towers

    3. current resale :

    IVV - 8500 is the base on top depending on towers PLCs can range from 400 to 1200 additional
    GA - 12k to 12.5 k for non arch and 13.5k to 14k for arch + PLC typically from zero to 400
    Uptown - 8k
    skyon - 9.5k to 10.5 k depending on towers + plcs 300 .

    4. estimated completion date :

    GA - 2q CY 2013.
    Uptown - 4q CY 2013
    IVV - 4q 2014
    skyon - 4q 2015 ( pls check )

    5. Payments gone :

    GA - 90 % in most of the cases
    IVV - 40% to 85% depending on towers
    uptown - 70% to 85% depending on towers ( pls check )
    skyon - please check

    Finally i would first decide between ireo city projects ( skyon / GA ) vs others first . Once decided it is easier to take a call depending on budget, objective , cash flow and other simillar factors.

    Hope it helps, all the best with your search.

    If you want an independent assesment of Ireo capability, lot of material has been posted in several threads of Ireo and there is an ICRA evaluation of Ireo credit profile also, which provides lot of info, they appear to be financially very sound without any cash flow issues, which probably helps in project completion. However their prices have run up ahead of the market and hence may not sustain the same returns as before as ireo is trying to cash in on the same by pricing its projects higher & higher.
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  • As usual KC bhai...Only you can give details like this. However, I have few updates which I will mark in RED....

    Originally Posted by kinjalchato
    rushil post / thread is one of the best that addresses this query as he had undergone the same process as you had . It is important to know the investment objective , as depending on that and several other factors only it would be possible to compare these widely different projects .

    On your specific query let me try to answer

    1. Launch Date :

    IVV - 26th May, 2010
    Uptown - 26th November, 2009
    Skyon - 4th Feb, 2011
    GA - 25th september, 2009

    2. Booking Price : will vary from individuals depending on when it was bought as Ireo has been periodically releasing inventory and revising prices. However the prices at the time of booking are as under :

    IVV - 5800 ( Towers only , mid rise were 6500 to the best of my knowledge )
    Few Units in 5250 for tower C and launch at 5500,5750,6000 for tower C,B,A
    Uptown - others can add -3600
    Skyon-others can add - 6500
    GA - 4550 for non arch & 4950 for arch towers

    3. current resale :

    IVV - 8500 is the base on top depending on towers PLCs can range from 400 to 1200 additional
    GA - 12k to 12.5 k for non arch and 13.5k to 14k for arch + PLC typically from zero to 400
    Uptown - 8k - 8200 onwards
    skyon - 9.5k to 10.5 k depending on towers + plcs 300 . - 10,000-10,200 for 2bhk,10,500 non park facing,10,750 - 11,400 for park facing + Swastika/Iconic Tower.

    4. estimated completion date :

    GA - 2q CY 2013.
    Uptown - 4q CY 2013
    IVV - 4q 2014
    skyon - 4q 2015 ( pls check )

    5. Payments gone :

    GA - 90 % in most of the cases
    IVV - 40% to 85% depending on towers
    uptown - 70% to 85% depending on towers ( pls check )
    skyon - please check - Only 30% in approx 2 Years.. Can you believe it ??

    Finally i would first decide between ireo city projects ( skyon / GA ) vs others first . Once decided it is easier to take a call depending on budget, objective , cash flow and other simillar factors.

    Hope it helps, all the best with your search.

    If you want an independent assesment of Ireo capability, lot of material has been posted in several threads of Ireo and there is an ICRA evaluation of Ireo credit profile also, which provides lot of info, they appear to be financially very sound without any cash flow issues, which probably helps in project completion. However their prices have run up ahead of the market and hence may not sustain the same returns as before as ireo is trying to cash in on the same by pricing its projects higher & higher.
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  • Originally Posted by rushilarora
    As usual KC bhai...Only you can give details like this. However, I have few updates which I will mark in RED....


    Thank you rushil and appreciate the same. with 30% payment, the returns are absolutely mindboggling for the early investors of skyon, must be a sore temptation to exit for many .
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  • That's why I see IVV a very tempting buy at the moment. With Uptown selling at 8200 and 67a coming at 8k and above, its IVV that gives a good chance to make money in medium term.

    One must also see the fact that Skyon has mostly midrises with just one Iconic tower. Seeing how some of the midrises have already recieved calls of 60-70% payment, I see the same scenario happening in Skyon pretty soon. Time taken for midrise is always much lesser then tall towers.

    So I see a very fast outflow in Skyon post Feb 2013 and most of the midrise will reach IVV level in next 6-8 months. This will put pressure on financiers and investors to exit and one may see a consolidation in skyon for some time.
    Next move in skyon would come only after GA comes for possession and families start moving in.

    In terms of ROI, IVV looks more tempting. It hasnt got its due premium till date and in next 6 months I see 3 tall towers reaching 60% of their height. This will bring in rapid appreciation like it happened in GA.

    Secondly if 67a has to give returns to its investors, it needs to touch 9500 within a year of its launch. For that IVV resale has to be atleast at 10,500. Which means 2k jump from the current level.

    So when one compares cash flow of Skyon, GA, Uptown and IVV, IVV scores all over.
    There are many midrises where only 30% payment has gone till date which puts it at par with Skyon in terms of cash flow.

    Skyon will need Rs 2500/- more premium then IVV to enter as of now ...

    If you do your maths, it wont be difficult to figure out where you should be putting your money today.

    PS:- Skyon Min 3bhk size is 2045 and IVV it is 2386. Thats the only diff + Location advantage to skyon.




    Originally Posted by kinjalchato
    Thank you rushil and appreciate the same. with 30% payment, the returns are absolutely mindboggling for the early investors of skyon, must be a sore temptation to exit for many .
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  • rushilarora ji
    how do see new project from investment point of view for 2 years ??
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  • Originally Posted by rushilarora
    That's why I see IVV a very tempting buy at the moment. With Uptown selling at 8200 and 67a coming at 8k and above, its IVV that gives a good chance to make money in medium term.

    One must also see the fact that Skyon has mostly midrises with just one Iconic tower. Seeing how some of the midrises have already recieved calls of 60-70% payment, I see the same scenario happening in Skyon pretty soon. Time taken for midrise is always much lesser then tall towers.

    So I see a very fast outflow in Skyon post Feb 2013 and most of the midrise will reach IVV level in next 6-8 months. This will put pressure on financiers and investors to exit and one may see a consolidation in skyon for some time.
    Next move in skyon would come only after GA comes for possession and families start moving in.

    In terms of ROI, IVV looks more tempting. It hasnt got its due premium till date and in next 6 months I see 3 tall towers reaching 60% of their height. This will bring in rapid appreciation like it happened in GA.

    Secondly if 67a has to give returns to its investors, it needs to touch 9500 within a year of its launch. For that IVV resale has to be atleast at 10,500. Which means 2k jump from the current level.

    So when one compares cash flow of Skyon, GA, Uptown and IVV, IVV scores all over.
    There are many midrises where only 30% payment has gone till date which puts it at par with Skyon in terms of cash flow.

    Skyon will need Rs 2500/- more premium then IVV to enter as of now ...

    If you do your maths, it wont be difficult to figure out where you should be putting your money today.

    PS:- Skyon Min 3bhk size is 2045 and IVV it is 2386. Thats the only diff + Location advantage to skyon.


    spot on the mark as always . makes immense sense. the only issue is those mid rise ( 30% between d11 to d 23 ) are generally not in market especially the higher floors. But yes investing in thesemid rise especially makes immense sense .
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