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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  • abhay ji, rightly said. instead of thinking so much lets fix some time to go there. I propose tomorrow evening sometime to go there and talk. lets say 4.30 /5 pm.

    please give ur confirmations who all wants to come. the more the number the better it is.
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  • Originally Posted by meebojain
    abhay ji, rightly said. instead of thinking so much lets fix some time to go there. I propose tomorrow evening sometime to go there and talk. lets say 4.30 /5 pm.
    please give ur confimations who all wants to come. the more the number the better it is.


    tommorow is sunday
    all companies office closed on sunday
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  • IREO site Office will be open, infact most RE site office and sales staff is in attendance on Sat and Sundays as they have maximum footfalls.

    Nov- Jan is also NRI time hence good business opportunities.
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  • there is another good opprtunity being provided by ireo at panchkula after SC lifted stay. they are launching 150 sq yds plots under npnl scheme (no profit no loss scheme). expected price is approx. 28000 sq yds with cheque value 9000 psy....it is a good investment in short term for people who have excess cash lying.
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  • Hard to understand how many buyers would be at such a escalating price.
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  • Originally Posted by teamplayer
    IREO site Office will be open, infact most RE site office and sales staff is in attendance on Sat and Sundays as they have maximum footfalls.

    Nov- Jan is also NRI time hence good business opportunities.


    dear i talk around 2 weeks back
    on saturday i called at 12 am the person told me noone is there i said tommorow is there anyone if i go to ur site sector 67 a he say NO and say me call me on monday
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  • Any progress...

    Originally Posted by abhay1991
    agree
    and also i think that if if we go 4 to 5 person together we can get direct from company in prelaunch itself ( not sure )

    i talk to company they want fresh cheque also of that date and they will not disclose how much amount cheque also to brokers
    they will disclose on that date only

    instead i think atleast 4 to 5 person should plan to visit company office
    i know company will not give discount but i think they will give confirm
    what say ?
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  • hi everyone,
    as there is a lot of hype with regards to this project, i have done some research and gotn to some conclusions, that i wana share with members..
    -investors seem to be making a bee-line for this project because they think its IREO and at a good price. I spoke to a few ppl i know in Ireo who told me that specs in this project are not that great, this is going to be a mid-income level project and not ultra luxury as the others! considering its location compared to the price of Victory valley, where construction is at a later stage, this project seems too expensive.
    -getting a flat in prelaunch and selling after 6 months is not so easy anymore, i myself have seen ppl getting stuck and having to take loans to pay installments as they were not able to sell even at a lower price..(ireo project only) the demand seems to be very high during prelaunch as ppl wana make quick money, but after launch the demand tanks down..even the companies have a tough time selling projects as most ppl then buy in resale..

    would like comments from senior members!
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  • Lowest rate IS lowest rate...

    If one can, one must take the booking in soft launch...

    6 months is no time frame... one should be ready to pay and hold at least up to excavation... and then hope that excavation gets delayed... :)


    Originally Posted by arjunr
    hi everyone,
    as there is a lot of hype with regards to this project, i have done some research and gotn to some conclusions, that i wana share with members..
    -investors seem to be making a bee-line for this project because they think its IREO and at a good price. I spoke to a few ppl i know in Ireo who told me that specs in this project are not that great, this is going to be a mid-income level project and not ultra luxury as the others! considering its location compared to the price of Victory valley, where construction is at a later stage, this project seems too expensive.
    -getting a flat in prelaunch and selling after 6 months is not so easy anymore, i myself have seen ppl getting stuck and having to take loans to pay installments as they were not able to sell even at a lower price..(ireo project only) the demand seems to be very high during prelaunch as ppl wana make quick money, but after launch the demand tanks down..even the companies have a tough time selling projects as most ppl then buy in resale..

    would like comments from senior members!
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  • Hello,

    I am new in this forum and interest in IREO's new project. Wanted to check a few things with informed members here:

    1) Does any one have an exact sense of the location? i.e. how far (in meters) is it from Victory Valley (brokers are saying less than 500 meters), but wanted to check if someone has personally visited the site.

    2) Do we know anything about the specifications - basic like uptown or more lux like GA/ IVV?

    3) It seems that Ireo has a large part of the land bank of Sec 67a (some 40 acres, I guess). Also a broker suggested that "only" builder in this part other than IREO is M3M. Is this correct? Just wanted to understand the development potential of 67A.

    Thanks and regards,
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  • My replies in Red below.

    Originally Posted by Jackisgood
    Hello,

    I am new in this forum and interest in IREO's new project. Wanted to check a few things with informed members here:

    1) Does any one have an exact sense of the location? i.e. how far (in meters) is it from Victory Valley (brokers are saying less than 500 meters), but wanted to check if someone has personally visited the site.

    Go to Wikimapia.org and check out Ireo Victory Valley in Sector 67 and from there measure a distance to IREO plot in sector 67a. I did the same and it returned me a figure of 1.1 km.

    2) Do we know anything about the specifications - basic like uptown or more lux like GA/ IVV?

    This wont be Luxury project like GA/IVV/Skyon but a Premium Project. However its main USP would be its club built over 5 acre if initial info is true. If you know how IREO has gone about its club in GA and Ludhiana township, you can get an idea about how this would be.

    3) It seems that Ireo has a large part of the land bank of Sec 67a (some 40 acres, I guess). Also a broker suggested that "only" builder in this part other than IREO is M3M. Is this correct? Just wanted to understand the development potential of 67A.

    I dont know about other builder but this 40 acre will be the site for this project of IREO which will be biggest so far from IREO. Apart from it Ansals had the license for 100 acres where they were planning to launch Villas priced at 5 cr each. As per my last info the license got cancelled. For the current status KC would be the right guy to give you the latest update.

    About the development potential of this sector, you need to study the Masterplan 2031 of Gurgaon. There is a parallel road to GCX of the same size that is planned from sector 63a to 67 a to 70a and further it will join the NH8.
    This is to ease traffic on Gcx and also give a direct connectivity from a New road connecting Gurgaon to Andheria Mor in Delhi via Gwal Pahari. Traffice moving from South Delhi to Jaipur and Manesar will find it to be the fastest connection.

    Coming to the potential of this area, one needs to understand the potential of GCX, SPR and assess the potential of the area at large. None of these would appreciate in isolation but in tandem.

    According to me the real potential of this area would surface when all the projects of sect 66,67 will get inhabitated. So as per timeline following is my take in terms of return.

    1. One year - Decent Return.

    2. Two year - Good Return.

    3. Three Year - Very Good Return

    4.Four Year - Excellent Return

    5. Five Year - Awesome Return.

    6. Seven Year - One of the Best in the area.

    PS:- By return I mean Return on Investment and Cash flow plays a very important part in it. Also Good Bad and Ugly returns are assumed based on the development potental of 66 and 67 at large.


    Thanks and regards,
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  • Rushil - Thanks a lot for the insight. This is very helpful.
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  • Originally Posted by Jackisgood
    Rushil - Thanks a lot for the insight. This is very helpful.


    Dear All,

    I am new to this thread. Please can somone comment on the approx BSP for this product? Even the rough range will be fine. Thnks in advance.
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  • Originally Posted by SunnyChopra
    Dear All,

    I am new to this thread. Please can somone comment on the approx BSP for this product? Even the rough range will be fine. Thnks in advance.

    I think 8000 to 8500 would be the right pricing for now :(
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  • Originally Posted by Insight1
    I think 8000 to 8500 would be the right pricing for now :(



    Wow - that's a lot. I spoke to a broker who told me the BSP will be 8000 Rs per sq ft. Are you aware of any inaugural discounts etc?

    Area will be 1200-2200 sqft

    Question is that if it is worth spending this much for the location? Builder's record is good as they have done decent job in the past.
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