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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  • Originally Posted by rs2507
    The biggest problem is not IREO or this particular project. As majority of us are of the opinion that this needs to be avoided. I see trouble when this becomes the norm..when every other launch will be on same absurd lines. Slowly people start to accept that these are the established rates/norms.
    Dangerous signs...people need to be cautious.


    No one is above the market forces , you may test it for sometime and then people will burn. The scary part is innocents will get entrapped as it has happened in the stock markets.

    Hope sanity prevails and it is for the health of the market that these manufactured hype bluff is called for very soon.

    It is coincidental that this is being discussed in ireo thread, same could be done in any other project thread.
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  • Originally Posted by abc111
    But in resale prices are stagnant.

    How long can financiers and brokers maintain the hype?


    agreee resale prices are stabled and i think it will remain stable this year
    ( not sure )

    a big no to fresh launches in whole gurgaon all are overpriced
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  • Agreed. In my view one should focus on projects which are available anywhere in GGN in the range of 4000 +/- 500. At least here the bottom to an extent is protected and end user is easy to find. Some of these opportunities very well exist in DEW and New Gurgaon. No doubt people will need some grey money to fetch those deals.
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  • Mr. Gupta- Please can you help me with few projects with this range? I am not based in GGN and looking for advises.
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  • Guys this is going to get crazier soon, a new start-up backed by a big VC is entering the real estate investment space. Soon you will be able to buy few sq fts of space in a project rather than buying the whole flat.

    They are starting with Bangalore projects and then will expand to other parts of India.
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  • Originally Posted by shkhan
    Guys this is going to get crazier soon, a new start-up backed by a big VC is entering the real estate investment space. Soon you will beable e to buy few sq fts of space in a project rather than buying the whole flat.

    They are starting with Bangalore projects and then will expand to other parts of India.


    Commodity trading in real estate....its time for it to be on mcx!
    On resale, my friend just closed ona 3 bhk deal in DLF phase. 4, ridge wood. Not many locations are better than this, still flats are going at 'reasonable' rates when compared with relatively uninhabited areas.
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  • Originally Posted by "shkhan
    Guys this is going to get crazier soon, a new start-up backed by a big VC is entering the real estate investment space. Soon you will be able to buy few sq fts of space in a project rather than buying the whole flat.

    They are starting with Bangalore projects and then will expand to other parts of India.


    Are u ref to a REIT?
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  • It certainly seems like REITS.

    shkhanji do let us know more about this particular development.
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  • I don't think REIT is allowed in India . Though SEBI is contemplating it for a long time. I personally feel Indian ,Arlen dosent have a depth for effective functioning of REIT. Lack of transperancy, cash dealing, irrational and different tax structure, stamp duty in different states will make it very difficult for it to give some return in India.

    Also I think SEBI would keep a tap on ticket size with entry size being min 1cr.

    As much as I know REIT Typically invest in rent yielding assets and mostly in commercial space. And we all know rental yields in India are the worst in the world. So how would they give return in India remains to be seen.

    Secondly RE in India is a leverage play where most of the appartments are bought by getting funding from bank. So at the moment REIT would rule out mostmofmthe investors as one can make far better return by leveraging 1cr in RE market.

    khan Saab thoda aur Prakash daliye..



    Originally Posted by Magadh_Pride
    Are u ref to a REIT?
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  • Originally Posted by rushilarora
    I don't think REIT is allowed in India . Though SEBI is contemplating it for a long time. I personally feel Indian ,Arlen dosent have a depth for effective functioning of REIT. Lack of transperancy, cash dealing, irrational and different tax structure, stamp duty in different states will make it very difficult for it to give some return in India.

    Also I think SEBI would keep a tap on ticket size with entry size being min 1cr.

    As much as I know REIT Typically invest in rent yielding assets and mostly in commercial space. And we all know rental yields in India are the worst in the world. So how would they give return in India remains to be seen.

    Secondly RE in India is a leverage play where most of the appartments are bought by getting funding from bank. So at the moment REIT would rule out mostmofmthe investors as one can make far better return by leveraging 1cr in RE market.

    khan Saab thoda aur Prakash daliye..

    REITs operate in commercial space only because of the way valuations are carried out in real estate finance. Valuation of a real estate asset is carried out depending upon the cash flow it will generate over the course of its life. This cash flow is in terms of rent it gets minus the operating cost after accounting for vacancy rate. Point to note is that there is no residual value of the property just the cash flow in terms of rents.
    Abroad REITs are a very successful model due to tax incentives these funds receive which is not the case in India. However, these funds are active in India some of them are from HDFC, ICICI etc however the yearly premiums are heavy. Last I remember a fund launched in 2010 from HDFC was having an yearly premium of 25 lakhs.
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  • Ascendas is operating in Gurgaon and Mapletree will be entering soon. Though they are operating in different garbs than a REIT...
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  • Maple Tree has presence in Chennai, have they tied up in Gurgaon as well, could you update.
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  • This thread has gone dead... has the hype and project too... :)
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  • I did call the Ireo customer care and the guy confirmed that the parking slots are included in the BSP as per HUDA guidelines as is also being done in IVV etc. He was not sure about the price but I would not take his word as final.
    Though I did threaten that I am going to claim back the charges paid for 4 parking slots for my IVV apartments. Maybe we could do something collectively.

    Guys-give it a serious thought. Its all in black and white.

    Cheers.

    CA.
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  • Is the price confirmed now?
    i just saw an ad on the home page of iref pointing the price of this new project for rs8500/-
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