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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  • Just got this from my broker

    Following is the details for First phase of IREO new project:-

    Rate - 8750 per sq ft
    Size - 1200-2400 sqft
    Location - 67A
    Booking amount - 10L for 2BHk, 12L for 3BHK and 15L for 4BHK
    Expected Launch - Ist week of Feb 2013
    Total Land - 40 acres
    Cheque - IREO

    Shortly expecting to bank the cheques for the project

    Thoughts?.
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  • Originally Posted by onceagain
    Just got this from my broker

    Following is the details for First phase of IREO new project:-

    Rate - 8750 per sq ft
    Size - 1200-2400 sqft
    Location - 67A
    Booking amount - 10L for 2BHk, 12L for 3BHK and 15L for 4BHK
    Expected Launch - Ist week of Feb 2013
    Total Land - 40 acres
    Cheque - IREO

    Shortly expecting to bank the cheques for the project

    Thoughts?.


    Difficult to opine in absence of :

    a. Specs.
    b. Package included in BSP &
    c. PLC.

    BSP is high though. C.F. market 8000-8250 would have been the sweet spot (MPV).

    Cheers.

    CA.
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  • Originally Posted by Cheeky AlAn
    Difficult to opine in absence of :

    a. Specs.
    b. Package included in BSP &
    c. PLC.

    BSP is high though. C.F. market 8000-8250 would have been the sweet spot (MPV).

    Cheers.

    CA.


    even if they launch same specification as IVV i think 8750 is high
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  • Originally Posted by abhay1991
    even if they launch same specification as IVV i think 8750 is high


    Sir IVV has no special specs according to me except double glazing, VRV air conditioning instead of Split ACs and high ceilings. Rest all is standard and is being offered even by smallest of Builders. Looking at the high price that IVV was launched at in its time, this would not be anything special if you ask me. That's why they must come up with some more value addition like DLF in Park Place like I posted before. Lets wait and watch-there's already been too much speculation on this project.

    Cheers.

    CA.
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  • I think you should judge the market dynamics as well. IREO will not be in hurry to sell the complete project. They can only push prices in the area if they launch new projects at higher cost. Unitech, DLF have been doing this for the last 7-8 years.

    DLF launched its project in far flung areas at around 6000 p. sq.ft.

    Bestech price is around 5500 per sq. ft in Sector 92.

    If you try to compare those project with the pricing being offered here then I think 8750 will make complete sense. It will benefit IREO in 2 ways, the market price of IVV will go up, and if they are holding any units in IVV, then they will be load off those units at higher cost.

    The new project will be at full White and there will be less outgo initially. So, that is also a positive for investors.

    The Product comparison will be there but will play a secondary role.

    All my POV looking at the launches in the last 3-4 years.

    Originally Posted by Cheeky AlAn
    Sir IVV has no special specs according to me except double glazing, VRV air conditioning instead of Split ACs and high ceilings. Rest all is standard and is being offered even by smallest of Builders. Looking at the high price that IVV was launched at in its time, this would not be anything special if you ask me. That's why they must come up with some more value addition like DLF in Park Place like I posted before. Lets wait and watch-there's already been too much speculation on this project.

    Cheers.

    CA.
    CommentQuote
  • Originally Posted by Cheeky AlAn
    Sir IVV has no special specs according to me except double glazing, VRV air conditioning instead of Split ACs and high ceilings. Rest all is standard and is being offered even by smallest of Builders. Looking at the high price that IVV was launched at in its time, this would not be anything special if you ask me. That's why they must come up with some more value addition like DLF in Park Place like I posted before. Lets wait and watch-there's already been too much speculation on this project.

    Cheers.

    CA.



    CA jee!!

    Specifications can be broadly classified into two categories

    1) Specifications of the apartment

    2) Specifications of the project in general

    So, what you say is true that IVV doesnt have any special specifications except the ones that you mentioned. Its the truth.. but an incomplete one.

    The strength and USP of the IVV is that its second category specifications are very strong. The overall concept, the height, the design, the valley, the plantations on the building etc... These sorta specifications are the ones which make IVV stand out..

    I ( and many others here) think that 67a will not be able to match these things!!
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  • Comparison on specs and concept only misses out on the crucial differentiator - Cash Flow; the most important factor when weighing an investment.

    If we were to compare houses, as to which one would be better to live in and therefore arrive at price; IVV might be the winner. But this comparison is minimum six years down the line; when both projects would have been delivered.

    As of now THE relevant deciding factor is/should be cash flow. 67A wins hands down.
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  • comparing IVV without knowing anything about 67a , except for some genric information on specs, that too not substantiated , does not make sense.

    investing in a known devil , with known specs , at simillar price point makes immense sense for an end user. an investor can also pick the appropriate towers and will be fine with the cash flow aspects .
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  • I somehow get the feeling that this is going to be including parking considering IVV fresh booking is including parking at 9150. If that's the case, does the rate still look too high?
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  • Originally Posted by St_Anger
    CA jee!!

    Specifications can be broadly classified into two categories

    1) Specifications of the apartment

    2) Specifications of the project in general

    So, what you say is true that IVV doesnt have any special specifications except the ones that you mentioned. Its the truth.. but an incomplete one.

    The strength and USP of the IVV is that its second category specifications are very strong. The overall concept, the height, the design, the valley, the plantations on the building etc... These sorta specifications are the ones which make IVV stand out..

    I ( and many others here) think that 67a will not be able to match these things!!


    St. Anger Ji,

    67A might or might not match the IVV specs is a question which will have an answer to pretty soon but I regretfully could not agree to your point of secondary specs in IVV. What secondary specs IVV is providing is being paid for by the investors. Look at the high green facing PLC, obnoxiously high per Sq. Ft. per floor rise PLC and if it were possible to charge any fresh air breathig PLC for higher floors, Ireo would have done that as well. Man they charge PLCs at the drop of a hat. I am sure if other established developers provide such external specs at even lesser PLCs, investors would seriously start thinking in such projects at a faster pace. External specs do give a project a snob value but down the line it looses its sheen and becomes more or less standard with the project. My personal POV.

    Cheers.

    CA.

    Note: Sir aapkae liyae ek post likha tha SS Coralwood par. Kripya sahaayata karaen!
    :)
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  • I assume 'will be fine' connotes similarity, if not equality...
    can we have a mathematical run down...

    I have high regards for your opinions; therefore trying to get to know what it is that I am missing... :)

    ps. mathematics is the language of man qua man; it has no shades of answers, simply either/or...

    Originally Posted by kinjalchato
    comparing IVV without knowing anything about 67a , except for some genric information on specs, that too not substantiated , does not make sense.

    investing in a known devil , with known specs , at simillar price point makes immense sense for an end user. an investor can also pick the appropriate towers and will be fine with the cash flow aspects .
    CommentQuote
  • when the cows come home it is the concept (secondary specs as termed by St_Anger), what lies outside the home and within the immediate environment that puts premium on property... or else a house on a plot would be best... and that too a custom made house on a big plot, a cheap big plot... cheap as in in wilderness... :p

    Originally Posted by Cheeky AlAn
    St. Anger Ji,

    67A might or might not match the IVV specs is a question which will have an answer to pretty soon but I regretfully could not agree to your point of secondary specs in IVV. What secondary specs IVV is providing is being paid for by the investors. Look at the high green facing PLC, obnoxiously high per Sq. Ft. per floor rise PLC and if it were possible to charge any fresh air breathig PLC for higher floors, Ireo would have done that as well. Man they charge PLCs at the drop of a hat. I am sure if other established developers provide such external specs at even lesser PLCs, investors would seriously start thinking in such projects at a faster pace. External specs do give a project a snob value but down the line it looses its sheen and becomes more or less standard with the project. My personal POV.

    Cheers.

    CA.

    Note: Sir aapkae liyae ek post likha tha SS Coralwood par. Kripya sahaayata karaen!
    :)
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  • if i recall correctly Sec 67 A touches border with the Gurgaon Jail.
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  • Originally Posted by golu11
    if i recall correctly Sec 67 A touches border with the Gurgaon Jail.


    central jail is near to sector 63 a and not 67a . Please do check . even with 63a , it crosses crpf campus first and is far away, there is no bordering .
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  • Originally Posted by Lazybell
    I assume 'will be fine' connotes similarity, if not equality...
    can we have a mathematical run down...

    I have high regards for your opinions; therefore trying to get to know what it is that I am missing... :)

    ps. mathematics is the language of man qua man; it has no shades of answers, simply either/or...


    Yes it connotes simillarity . what i meant was selection of mid rise , where only 30% payment has gone ttill now , a seasoned investor, will know the internal project plans of ireo vv and select ones which will be constructed the last.

    for e.g. if an investor in GA had the necessary insight , he would have chosen Towers F, which was in ground floor state till dec 2011 , despite being launched in dec 2009 . so 2 years no activity and price increase from 4.5k to 10 k , is amazing .

    on the other hand the end user still will get posession in time , unlike any others.
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