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 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.


    means the Ireo new project is coming in 67 a will be around 15000 ?? not 8000 ??
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  • Originally Posted by abhay1991
    means the ireo new project is comming in 67 a will be around 15000 ?? not 8000 ??


    67A is not in Ireo city, I am talking about the new projects which will come in Ireo city
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  • I may be wrong here, but could anyone confirm if 3bhk units of D2, 23 and 26 are non-green facing?

    I couldn't locate floor plans for towers D1, 6, 7 and 27 on the website, any clue?
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  • Originally Posted by kinjalchato
    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.


    Bang on Kinjal / Rushil...

    Of the 3 projects, IVV would be the first choice for most end users

    IVV vs. Skyon is a trade off between size and location.

    Ask any end user whether he would prefer a 2400 sq ft apt in sec 67(IVV) or a 2000 sq ft apt in Ireo City(Skyon) for almost the same value(I haven't done the exact calculations but looking at the price difference between the two projects, I am assuming that there won't be a major difference in the value of a 2400 sq ft apt in IVV and a 2000 sq ft apt in Skyon).

    Its a tough choice but I am guessing most end users would go for size over location.

    As an invester, 67A project would be my preferred choice only if I have limited resources(capable of paying 3-4 installments only) or plan to exit rather early.

    As an end user I would give 67A a complete miss right now. There is nothing special in the project either in terms of concept or location. I would be paying the premium only for the 'Brand'.

    Just ask yourself a couple of questions:

    - 'Whether you would invest in this project if the 'IREO' tag is removed from it?!'
    - 'Whether you would have invested in this project a couple of years ago when IREO wasn't as big as it is right now'

    If you are still confused, check out the first few posts of this thread. Maybe that will help.

    The point I am trying to make is that the actual product should have the maximum weightage in a purchase decision. In the case of 67A, sadly brand has overtaken product.

    Having said all this, I might be forced to swallow my words when GA is delivered!

    P.S. - If I am looking at these 3 projects , I would also give Merlin a lot of thought as it is certainly one of the best VFM project and therefore sometime down the line, this project is capable of attracting a lot of end users....
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  • Originally Posted by zViren
    Project is expected to be launched in 2nd week of jan tentative BSP of 7950


    7950 looks good
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  • Is the court stay issue on the sector 67A sorted now?
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  • Originally Posted by Amit08
    Is the court stay issue on the sector 67A sorted now?


    amit ji can u tell me what court issue for sector 67 was going
    i really don't know
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  • As i have highlighted in my previous posts it is essential to get clarity on these issues :

    1. Has the court direction of maintenance of status quo on the new sectors 63a , 67a as was first proposed in masterplan 2025 and was later had been stayed by the Punjab High court, has been vacated or not.

    2. Has the Licence been issued to 67a project, there is no independently verifiable information.

    Please keep in mind while doing the due diligence .
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  • What price can we expect for short term ( 6 months) for Uptown & IVV from current price of 8200 & 8500 respectively.

    I am owning a 1132 UT , will it be a good thought to switch over to 1435 IVV.

    Pl suggest.



    Originally Posted by kinjalchato
    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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  • IVV is a top level project, if you look at some previous posts on IVV thread, it was mentioned in the 100 top architectural projects of the world in 2012.

    If it is for investment purpose, then it makes sense to move to IVV. But if it is for occupying the flat, then it would be good if you shift in Uptown as IVV will take another 3-4 years to complete.

    Originally Posted by ashishag
    What price can we expect for short term ( 6 months) for Uptown & IVV from current price of 8200 & 8500 respectively.

    I am owning a 1132 UT , will it be a good thought to switch over to 1435 IVV.

    Pl suggest.
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  • Thanks Jollyboy.

    My purpose is purely investment for short term.

    I have a time frame of 6 months. in coming 6 months i see UT at 9000 level ( maximum). and for switching over to IVV it will take approx 3 lakhs ( brokerage + transfer charges). considering all these, please advise weather it is right time to move from UT ( bought 6000/-)



    Originally Posted by jollyboy
    IVV is a top level project, if you look at some previous posts on IVV thread, it was mentioned in the 100 top architectural projects of the world in 2012.

    If it is for investment purpose, then it makes sense to move to IVV. But if it is for occupying the flat, then it would be good if you shift in Uptown as IVV will take another 3-4 years to complete.
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  • I don't think it will be a good decision to shift for a short term scenario.

    IVV is just started whereas possession is expected in Uptown in the next 7-8 months. I think if your horizon is 6 months only, then stick with Uptown which will give better returns compared to IVV.

    The scenario is only valid if you are going to sell your unit and use the money for some other purpose like studies or marriage.

    If you are going to re-invest then you better look at IREO city projects like Skyon which will have less investment intially and will def. give good returns.

    Originally Posted by ashishag
    Thanks Jollyboy.

    My purpose is purely investment for short term.

    I have a time frame of 6 months. in coming 6 months i see UT at 9000 level ( maximum). and for switching over to IVV it will take approx 3 lakhs ( brokerage + transfer charges). considering all these, please advise weather it is right time to move from UT ( bought 6000/-)
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  • Thanks for information.

    Can u pl share outflow for 2 BHK Skyon project.

    Originally Posted by jollyboy
    I don't think it will be a good decision to shift for a short term scenario.

    IVV is just started whereas possession is expected in Uptown in the next 7-8 months. I think if your horizon is 6 months only, then stick with Uptown which will give better returns compared to IVV.

    The scenario is only valid if you are going to sell your unit and use the money for some other purpose like studies or marriage.

    If you are going to re-invest then you better look at IREO city projects like Skyon which will have less investment intially and will def. give good returns.
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  • Theres not much point doing this switch if your view is only short term (6-9 months).
    I see UT price going up to 9000 by 3rd qtr next year. IVV and Skyon, both will surely go up by 1000 Rs in next 3 qtrs too.
    Do the math taking into note the brokerage/transfer charges and you may find that its not much use doing this for short term holding.
    But yes, if you switch to IVV or Skyon and can hold it for 2+ years, then your capital appreciation would be much more than UT.
    Originally Posted by ashishag
    What price can we expect for short term ( 6 months) for Uptown & IVV from current price of 8200 & 8500 respectively.

    I am owning a 1132 UT , will it be a good thought to switch over to 1435 IVV.

    Pl suggest.
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  • Hi,

    Just a few clarifications , IVV will take max 2 years to complete, as per the contract it is to be delivered in next 11/2 year .

    For a 6 months horizon, stick to Uptown , as with new floors being added at a higher rate , it can only pick up and it is not very neat to enter to back to back transactions like the one mentioned by you, resulting into brokerage expenses twice , capital gain tax issue if you do not do black , managing high cash components and the risks associated with it.

    If horizon is more than 2 years makes sense to switch over to IVV , especially if end use is also an objective.
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