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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: January 12 2021
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  • #341
    #341

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

    Originally posted by Manish1977 View Post
    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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    • #342
      #342

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

      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 View Post
      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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      • #343
        #343

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

        Originally posted by rushilarora View Post
        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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        • #344
          #344

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

          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 View Post
          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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          • #345
            #345

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

            rushilarora ji
            how do see new project from investment point of view for 2 years ??
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            • #346
              #346

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

              Originally posted by rushilarora View Post
              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 .
              Last edited December 8 2012, 09:09 PM.
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              • #347
                #347

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

                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 View Post
                rushilarora ji
                how do see new project from investment point of view for 2 years ??
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                • #348
                  #348

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

                  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 View Post
                  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.
                  Last edited August 6 2015, 03:58 PM.
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                  • #349
                    #349

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

                    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.
                    Last edited December 31 2015, 11:25 AM. Reason: Text formatting.
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                    • #350
                      #350

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

                      Originally posted by Varun_2011 View Post
                      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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