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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  • You can aswer this question yourself. Just make one small trip to Gcx starting from IREO city via Pioneer park, Presidia, M3M, Uptown, IVV. See the development of these sectors with upcoming connectivity like rapid metro till the end of GCR and 16 lan expressway from Ambience mall till the end of GCR.

    Prices of most of the projects on Gcx are already mentioned above. For your info I will also mention approx prices of other Gcx project in resale :-

    1.Pioneer Park - 8200- 8400 (80-90% Payment gone)
    2.Presidia - 9500-10,000 (60-70% payment gone)
    3. Araya - 11500. (Min size 3600) (30%)
    4.Golf Estate - 9000-12500 (Min size 3600) (50-70%)
    5. Merlin - 6500-6800 (40%)
    6- Bestech PSVN - 7200(80-90%)

    Now compare these prices with GCR- 12500 and above, Sohna Road - 8500-9500.

    Except for Merlin You wont find any thing under 8k in resale. Even the most basic property like pioneer park that was launched at 2800 4 years back wont come under 8k.

    In next 2-3 years most of these properties would reach their possession level .

    Of all the properties mentioned above, take out the property that you think is worst of the lot. Make your own guesstimate of the rates at the time of possession of that property.

    Difference between your guesstimate and its current resale price would be the premium that you can expect from 67a in next two years.

    Sorry to give you this homework, but if you have already travelled on this stretch recently then just do these calculation on paper and yessss....

    Please share the result with the forum. Infact every one who wants to know the expected price of 67a 2 years from now should do this excercise and publish their findings.

    We will make the median of all the prices published on the date of launch and will publish more broadbased reults for the benefit of everyone.

    Hope this helps


    All the best

    RA





    Originally Posted by sunnyms
    rushilarora ji
    how do see new project from investment point of view for 2 years ??
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  • Rushil ji,
    Can you please comment on the resale price of Mid rise towers in IVV and what is the approx PLC. Also what is the percentage of payment that has gone in mid rise towers.

    Also on a different note do you expect 67a project to be launched with similar specifications to IVV or it will be more like uptown.

    Thanks


    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.
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  • Rushil ji,

    i also want to buy in new project of ireo i talk to company today first of all they never pickup of phone.

    i called 7 times no answered and 8 time i call they pick i said plzz inform they say call them in jan.

    can anybody give me any contact number of employee whois working in ireo.
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  • Originally Posted by Varun_2011
    Rushil ji,
    Can you please comment on the resale price of Mid rise towers in IVV and what is the approx PLC. Also what is the percentage of payment that has gone in mid rise towers.

    Also on a different note do you expect 67a project to be launched with similar specifications to IVV or it will be more like uptown.

    Thanks
    Varun



    mid rise resale price is approx 8500 and plc of 300 to 600 depending on when bought.

    Payment gone is entirely depending on the specific mid rise , some have just 30%, other betweeen 50 to 85% .

    anyone guess on sector 67a but it is a large project and specs may be more around uptown than IVV . However one needs to wait for the final details , till then it is informed speculation.

    Rushil may add much more information or correct some of mine.
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  • KC what would be the most updated resale price of 2 BHK in tower C and how much payment has gone?

    Thanks
    CommentQuote
  • Originally Posted by kinjalchato
    mid rise resale price is approx 8500 and plc of 300 to 600 depending on when bought.

    Payment gone is entirely depending on the specific mid rise , some have just 30%, other betweeen 50 to 85% .

    anyone guess on sector 67a but it is a large project and specs may be more around uptown than IVV . However one needs to wait for the final details , till then it is informed speculation.

    Rushil may add much more information or correct some of mine.


    Mid rise D12 to D22 , only about 30% would have gone
    Mid rise D1, D3, D26 almost 80% would have gone .

    second advantage of Mid rise is only 2 apartments per floor and all apartments are green facing, while in Towers the 3 bhk ones are mostly non green facing .
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  • Thanks KC,
    I also don't see construction update for D12 to D22 on ireo website. So it means the construction has not at all started for these blocks. Any reason for this but yes they make a nice proposition to get in. Also is it difficult to get a unit in resale in these blocks or are they available?

    Thanks
    Varun

    Originally Posted by kinjalchato
    Mid rise D12 to D22 , only about 30% would have gone
    Mid rise D1, D3, D26 almost 80% would have gone .

    second advantage of Mid rise is only 2 apartments per floor and all apartments are green facing, while in Towers the 3 bhk ones are mostly non green facing .
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  • Originally Posted by amit001
    KC what would be the most updated resale price of 2 BHK in tower C and how much payment has gone?

    Thanks


    Tower C the payment gone would be approx 50% and soon it will be 60% + entire edc/idc + 50% parking. Ireo may or may not have raised, but milestones will be due, because generally they are slightly behind .

    Price should be around 8200 + to the best of my knowledge .
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  • Originally Posted by Varun_2011
    Thanks KC,
    I also don't see construction update for D12 to D22 on ireo website. So it means the construction has not at all started for these blocks. Any reason for this but yes they make a nice proposition to get in. Also is it difficult to get a unit in resale in these blocks or are they available?

    Thanks
    Varun


    don't have much idea on the availability , do check with brokers is an obvious answer. however had checked with ireo understand that that is as per their project plan, they are going to expedite these soon alongwith the towers,

    the same has been case with ga where 2 towers & 1 mid rise were started late and hence had a good cash flow intially, but now it is piling on.
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  • Sunny/Varun,

    Most of the questions have been comprehensively answered by KC. Nothing more to add. Yes D12-21 is catching up the investors frenzy as only 30% payment has gone. In most of these towers either just excavation has happened or basement slab work is going on.

    Regarding availability, yes there is availability in Mid rise as well. You need to work hard on it. Price would be 8500.
    Midrise with higher PLC (700) and BSP (7200) are available at 8200-8300.

    In next 6-8 months most of the midrise will reach almost same level of construction. So the cashflow advantage wont exist then.

    Regarding customer care I am surprised to know about your experience. May be your tried their number on weekend when they are closed. You may try again and if you dont get any response you may leave a comment on their FB page. I am sure they will revert soon.

    Regarding the specs of 67a project, it wont be ultra luxury or luxury like IVV. But most probably a semi luxury like Uptown. Untill the actial specs come out, everything else is a mere speculation.

    RA

    Originally Posted by Varun_2011
    Thanks KC,
    I also don't see construction update for D12 to D22 on ireo website. So it means the construction has not at all started for these blocks. Any reason for this but yes they make a nice proposition to get in. Also is it difficult to get a unit in resale in these blocks or are they available?

    Thanks
    Varun
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  • I inquired with few brokers.. all quoted 8500-9000 for 2 BHK in tower C
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  • wrong post.
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  • Originally Posted by amit001
    I inquired with few brokers.. all quoted 8500-9000 for 2 BHK in tower C


    as a seller or a buyer , you know how these brokers work more than a lot of us :) :). as a seller you will invariably get 8200 to 8500 , one never knows.
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  • Rushil, great post as always.

    Couple of months back I was also confused between Skyon and IVV, went for Skyon because of following reason

    1. Location - Its a part of Ireo city and this will add premium to it (that is why price is a bit higher and will always be)
    2. Ireo new project (of 25K), I am not sure whether Ireo is launching anything or not, but there are rumors, and if it gets launched, the prices in Ireo city will move fast.
    3. When I was discussing with Ireo sales team, any new projects in the Ireo city will not be less 15K (not high end), so the price of existing projects has to be around that before launching anything of the same price in the same area.
    4. Grand Arch prices went up, once the construction started and followed the same trend as the floors were build. I am expecting the same trend for Skyon here.

    Now IVV prices are around 2000 - 2500 less than Skyon but that is because of primarily location and %age payment gone, I still feel this difference of 2500 will always be there or may increase in future.

    Note - Its only my point of view. I could be wrong.

    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.
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  • Originally Posted by vik99
    Rushil, great post as always.

    Couple of months back I was also confused between Skyon and IVV, went for Skyon because of following reason

    1. Location - Its a part of Ireo city and this will add premium to it (that is why price is a bit higher and will always be)
    2. Ireo new project (of 25K), I am not sure whether Ireo is launching anything or not, but there are rumors, and if it gets launched, the prices in Ireo city will move fast.
    3. When I was discussing with Ireo sales team, any new projects in the Ireo city will not be less 15K (not high end), so the price of existing projects has to be around that before launching anything of the same price in the same area.
    4. Grand Arch prices went up, once the construction started and followed the same trend as the floors were build. I am expecting the same trend for Skyon here.

    Now IVV prices are around 2000 - 2500 less than Skyon but that is because of primarily location and %age payment gone, I still feel this difference of 2500 will always be there or may increase in future.

    Note - Its only my point of view. I could be wrong.


    Interesting discussion on one hand there is a choice of IVV vs sector 67a and on other hand skyon vs IVV.

    Just to add the Grand Hyatt residences are already on by invitation prelaunch stage and the model for the same is already on display, by invitation in the basement of their sales gallery in Gurgaon. They are Golf facing 4500 sq ft apartments 25k psft. Booking amount 1 crore .

    Aparently they take your cheque for booking amount and the company representative comes and gives a guided tour cum presentation and if satisfied your cheque are banked. Lot of Hype i guess .

    while for some skyon made immense sense , before its dramatic run. Now it is relatively ov erpriced. For others because of the factors mentioned by you it may give simillar or superior returns.

    However for IVV vs sector 67a , i tend to go with Rushil assesment , at this point of time the resale price with low outgo towers , makes lot of value .

    However from an end user perspective IVV is the best of the current lot , irrespective of it not being part of Ireo city . Hence it is bound to appreciate as construction progress and will attract lot of end users.
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