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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: March 20 2022
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  • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

    Originally posted by lexusnexus View Post
    Bhaiya conceptualise to theek hai but isn't ireo taking on too much on its plate. As an investor I would be worried
    No I dont think so.. Currently they have about 5 officially launched residential projects in gurgaon

    grand arch, uptown, IVV,skyon and gurgaon hills


    Now, out of these 5 five, atleast two, GA nd uptown will be RTM by end of next year. There is nothing major for the sales team to do at present except sell 2 gurgaon hills a month , as other projects are more or less sold out. So currently they can plan for this. By the time the actual execution team comes into picture, they'd gotten some hands free from GA and Uptown. So why is there too much on the plate.

    Secondly, as the pie gets bigger you can always buy a bigger plate. As in, hire talented people from outside and expand your operations. No reason to believe that they wont be able to handle it. Builders who have too much on their plate are unitech, Dlf and emaar mgf and the most likely spilling the coffee candidate is unitech as it has not been delivering anything off late.
    sigpicWe are the ones who wanna choose..Always wanna play ..but we never wanna loose!!!

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

      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........

      Comment


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

        Originally posted by sachingahl View Post
        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
        sigpicWe are the ones who wanna choose..Always wanna play ..but we never wanna loose!!!

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

          thanks for ur valuable comments.........yes it seems to be v costly at 7500-8000.........

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

            any idea when is this project expected to come?

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

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

                Originally posted by sachingahl View Post
                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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                • Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                  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.
                  Last edited December 31 2015, 11:22 AM. Reason: Text formatting.

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

                    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.

                    Comment


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

                      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.

                      Comment

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