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 thought of sharing the a mail i got from a broker for this project.

    Sizes:-

    1250sqft to 2200sqft Booking amt 10-15Lacs

    VRV /VRF AC Units with Heating and Cooling
    Modular Kitchen below the Counter with Chimney Hob
    High Speed Elevators
    100% Power Back-Up
    Club: Multi-purpose / Party Room with Kitchen Facilities
    Restaurant / Bar & Lounge / Gymnasium Badminton, Squash & Tennis Court
    Kids Indoor and Outdoor
    Community Space for Elderly Citizen’s
    CCTV for Basements

    He is mentioning the above specifications which includes VRV/VRF. I asked him particularly if he sure about VRV/VRF and he said that it is confirmed. He also informed that IREO will start accepting cheques in last week of Jan and launching price will be 9250 and pre-launch will be at 8750.

    Thanks
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  • Originally Posted by Varun_2011
    Just thought of sharing the a mail i got from a broker for this project.

    Sizes:-

    1250sqft to 2200sqft Booking amt 10-15Lacs

    VRV /VRF AC Units with Heating and Cooling
    Modular Kitchen below the Counter with Chimney Hob
    High Speed Elevators
    100% Power Back-Up
    Club: Multi-purpose / Party Room with Kitchen Facilities
    Restaurant / Bar & Lounge / Gymnasium Badminton, Squash & Tennis Court
    Kids Indoor and Outdoor
    Community Space for Elderly Citizen’s
    CCTV for Basements

    He is mentioning the above specifications which includes VRV/VRF. I asked him particularly if he sure about VRV/VRF and he said that it is confirmed. He also informed that IREO will start accepting cheques in last week of Jan and launching price will be 9250 and pre-launch will be at 8750.

    Thanks

    This pre launch/ launch is most amazing...from talks of 6K year and half back to 9200...and still nothing is sure. This is appreciation for builder without doing anything.
    Unbelievable...
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  • Actually this is crazy. I was very keen on investing in this project even when speculated rates were around 8000ish....but now it seems to crossing all imaginations.....planning to stay away from it...

    Originally Posted by rs2507
    This pre launch/ launch is most amazing...from talks of 6K year and half back to 9200...and still nothing is sure. This is appreciation for builder without doing anything.
    Unbelievable...
    CommentQuote
  • Originally Posted by rs2507
    This pre launch/ launch is most amazing...from talks of 6K year and half back to 9200...and still nothing is sure. This is appreciation for builder without doing anything.
    Unbelievable...



    sir it wasnt even 6k back then... i remember brokers quoting 5500 launch price with pre launch anywhere between 4700--5000....

    This isnt just appreciation for the builder but an indicator of how overheated gurgaon RE market has become. Gurgaon market has starting competing with bombay and all the broker lobby can say is, "sir! le lejiye... next year tak double ho jaayega" .... ghanta! double ho jaayega!!! :D :D
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  • Originally Posted by St_Anger
    sir it wasnt even 6k back then... i remember brokers quoting 5500 launch price with pre launch anywhere between 4700--5000....

    This isnt just appreciation for the builder but an indicator of how overheated gurgaon RE market has become. Gurgaon market has starting competing with bombay and all the broker lobby can say is, "sir! le lejiye... next year tak double ho jaayega" .... ghanta! double ho jaayega!!! :D :D

    Perhaps you are right. Such a scenario makes RE highly speculative and a game of punters. I am searching to invest in a new launch, and you will not believe that I could not muster guts to even identify a decent one...forget investing.
    So the best case scenario is bargain hunt in resale. It is getting scary day by day...
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  • Originally Posted by rs2507
    Perhaps you are right. Such a scenario makes RE highly speculative and a game of punters. I am searching to invest in a new launch, and you will not believe that I could not muster guts to even identify a decent one...forget investing.
    So the best case scenario is bargain hunt in resale. It is getting scary day by day...


    you are correct sir.. this market used to be one where almost any deal was a value deal. Now there're hardly any and those who shall blindly look at the past and assume that anything they touch will turn gold, will be in for a surprise.
    Sh!t*y projects with four side village facing PLC are asking 6k psft..Those in areas which resemble amazonian rainforests today ask for 5k and this project which is in an, as yet improperly demarcated sector, kms away from GCx asking 9k... The pricing is just obnoxious...!!!! but then we cant blame the builders alone... we (investors) are the biggest reason for this unreasonable scenario!!
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  • Originally Posted by St_Anger
    you are correct sir.. this market used to be one where almost any deal was a value deal. Now there're hardly any and those who shall blindly look at the past and assume that anything they touch will turn gold, will be in for a surprise.
    Sh!t*y projects with four side village facing PLC are asking 6k psft..Those in areas which resemble amazonian rainforests today ask for 5k and this project which is in an, as yet improperly demarcated sector, kms away from GCx asking 9k... The pricing is just obnoxious...!!!! but then we cant blame the builders alone... we (investors) are the biggest reason for this unreasonable scenario!!

    This is greed of the highest order. Earlier it used to be a builder,broker and investor nexus and everyone used to make money.
    Now, if we take this as a classic case...what a smart move from the builder. Nothing is launched, no pressure from investors, he is sitting tight and his fortune has moved Lock, stock, and barrel...It will be a highly interesting case study (what else can we do, when no solution in sight....make it into a case study) as how investors behave :-)
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  • i agree with the sentiments expressed in this thread intotality. Builders everywhere are not leaving anything on table for anyone , and it is a recipe for disaster.

    Marketforces will take care that this does not persist.

    as i had mentioned 10k club in RE appears to be the new 100 crore club of bollywood, NPR / SPR/ GCx / NH8 prelaunches touching 10k are absolutely obnoxius and the worst example is this project of ireo , especially the way they have handeled, constnatly teasing and fooling its customers ( investors ).

    I personally know of many who have junked this project for exact same reason after waiting, waiting and waiting.

    I really hope that all these prelaunches across GCx/ npr/spr/ NH8 asking for 10k without even an iota of fundamentals flop misreably and some sanity prevails in this market based on some fundamentals.

    stick to investing in bargain resale.
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  • Dear Friends,

    To put things in perspective, can we all list the best bargain resale options and the reasons. Let us try and create a pool of ideas and info and see if we can invest and still avoid mad mad world of fresh launches.

    If you all are game, we can start a new thread.
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  • I remember before 2008 crash , oil used to be exchanged/traded between 10 hands before it was finally delivered to end customer.Prices reached to $150 , an all time high. Feel same way for these pre launches etc.

    Rest all is history.
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  • Originally Posted by rs2507
    This pre launch/ launch is most amazing...from talks of 6K year and half back to 9200...and still nothing is sure. This is appreciation for builder without doing anything.
    Unbelievable...


    I did mention one week ago that the price is going to be 9200..

    I dare say another small prediction , if people promise not to lynch me on cyberspace-
    the first inventory of the project will be sold off in 2 hours on the day of prelaunch opening..

    though I also will not invest in at this rate and feel that the rate is absurd and absolutely crazy.. but there are still loyal band of investors of Ireo who will buy at any price provided it is the first price..
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  • Originally Posted by RHSingh
    I did mention one week ago that the price is going to be 9200..

    I dare say another small prediction , if people promise not to lynch me on cyberspace-
    the first inventory of the project will be sold off in 2 hours on the day of prelaunch opening..

    though I also will not invest in at this rate and feel that the rate is absurd and absolutely crazy.. but there are still loyal band of investors of Ireo who will buy at any price provided it is the first price..


    I agree with you, one of the broker I know itself is trying to get 2-3 units and was recommending me too to give cheque for this.
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  • anger ji kal aap kahan chale gaye the,

    jahan pehle jaate ho wahan aapke followers aa jate hain aur fir aapko suspension mil jata hai,

    you know yesterday something strange was being posted u know dhamki types n all that,

    the whole thread was HIJACKED and when i objected , you wont imagine in the morning atleast 5 pages and more than 40 posts were deleted.
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  • You are abosolutely right , first inventory will be sold in 2 hours and that too will not be available since every channel partner will be buying units for themselves . I myself have given three cheques ( for and my relatives) and channel partner has not confirmed booking at first rate. Max one cheque will be at first rate.

    Very few units will be available on first rate since within first day rate will be revised.

    This is as per communicates by one of senior ireo channel partner and I know they had done a very good bussiness in past .
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  • You are abosolutely right , first inventory will be sold in 2 hours and that too will not be available since every channel partner will be buying units for themselves . I myself have given three cheques ( for and my relatives) and channel partner has not confirmed booking at first rate. Max one cheque will be at first rate.

    Very few units will be available on first rate since within first day rate will be revised.

    This is as per communicates by one of senior ireo channel partner and I know they had done a very good bussiness in past .
    CommentQuote