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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  • Maybe u need to talk to some other broker also ! Forget about asking for discounts from the brokers if you want to piggy bank your application ahead ! I anyways find their credit notes nothing but tissue papers
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  • Originally Posted by AshiMisra2
    Folks, FYI: I had a conversation with my broker regarding IREO 67A. He informed me that project has been delayed & might launch in August 2013. So for now I would stop tracking this project down.

    Good luck to all for other projects.

    hi. Thanks for the information. Well, are you sure that it has been delayed till August 2013 because I have also given a booking check plus have the cbil enquiry form for the same.
    Can you give more information this please?
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  • This can be because sometimes many fake cheques are submitted by brokers to increase their no of bookings to get the genuine cheques banked.. in the end when fake cheques bounces then again fresh inventory is released in the market and the brokers have again game to play....:bab (59):

    Originally Posted by kinjalchato
    If true it is healthy, but what are the credentials ,pan number, which any case was always a requirement, if not ireo is catching up . If they restrict one unit per pan number, that is not possible to do , they will be shooting at their own leg. I am not sure if there is anything new here, untill there is more information.
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  • As per my broker, this is again delayed till god-know-when. The games IREO is playing in this project are quite weird and don't know for what purpose.

    They should simply launch at whatever prevailing market trend whenever they get permissions instead of these silly games.
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  • Originally Posted by sh-saxena
    As per my broker, this is again delayed till god-know-when. The games IREO is playing in this project are quite wierd and dont know for what purpose.
    They should simply launch at whatever prevailing market trend whenever they get permissions instead of these silly games.


    Can this be because IREO is contemplating getting a higher rate for this project, given that they are seeing Emaar, Tata & DLF (pre)launching at even higher numbers than 8750? Well, this time IREO got forms filled up saying that they are going to do CIBIL checks on the applicants so wondering if this news about the delay is really true .... they had really gone a step ahead than previous instances where they had tried releasing this project!
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  • Either They are waiting to see the response TATA gets for their project or maybe they are in talks to sell this land , and this was just a evaluation process to gets its price right ! Yes this can be very well be true , they are on selling spree and part of IREO city has already been sold out some time back
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  • they are facing some license issues. probably it will be come in april or end march.
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  • License issue is a very convenient story indeed ! These excuse don't fool anyone ... This licence jinx has been on from last 2 years ! How come all the builders are getting their licence ..BUT not them
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  • nicely said. I had visited ireo gallery yesterday but did not get this feeling that this project is getting delayed. mean they have taken a permission to do cibel check so i m not sure about this news that project is again delayed..

    as per my resources, Ireo will be launching 5-6 project during this year but then mahindara news came up.. so confusing indeed..


    Originally Posted by Norway
    License issue is a very convenient story indeed ! These excuse don't fool anyone ... This licence jinx has been on from last 2 years ! How come all the builders are getting their licence ..BUT not them
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  • Sir there is a bigger story , we all can only guess !
    Background checks ..lol as if its a marriage proposal with Ireo:bab (59):
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  • background check is good initiative by Ireo.. since it is very imporant for builder to know who is buying the units.. Big investor generally pay 2 installment and then sit idle and start giving interest. Interest paid will be always less than market appreciation of project..

    But if builder do not have finances or do not get installments on time, it results in delay in construction which in turn effects builder reputation..

    so this back ground check is really a nice initiative to get people with 30% paying capacity wiped out.. This is good for RE market otherwise these prices will keep going up and some one will burn their hands


    Originally Posted by Norway
    Sir there is a bigger story , we all can only guess !
    Background checks ..lol as if its a marriage proposal with Ireo:bab (59):
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  • Why would IREO do CIBIL checks ? Banks do that before giving loans to people to minimise credit default risk.

    Doesnt sound logical, IREO can simply cancel the allotment if the buyer doesnt pay installments. Also wouldnt most of the traditional investors anyway get lovely scores on CIBIL as they probably will not have any recorded credit defaults with banks.
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  • Originally Posted by "amitgargi
    Big investor generally pay 2 installment and then sit idle and start giving interest. Interest paid will be always less than market appreciation of project..

    But if builder do not have finances or do not get installments on time, it results in delay in construction which in turn effects builder reputation..




    Well - I think it's just another excused for delaying the construction...

    If builder is serious, they can just cancel the units and refund the money after deducting the charges- it's mentioned pretty clearly in every BBA

    Sent from my iPad using Forum Runner
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  • you are right Magadh, but from business perspective, If i am a builder, I would always want people who have a 100% paying capacity to buy the unit..

    Ireo has burned their hands in VV where there are not able to sale remaining inventory just because of high plc earlier and now they are in fix..

    One thing that always comes to my mind, it has to be a balance between investor and end use.. as of now it seems, RE gurgoan is driven by greedy investors and it is not a healty sign..

    ireo wants to make money so they are delaying it again and again ..Intention might be right but execution is wrong surely.. one word is right for this -- CHEAP...


    Originally Posted by Magadh_Pride
    Well - I think it's just another excused for delaying the construction...

    If builder is serious, they can just cancel the units and refund the money after deducting the charges- it's mentioned pretty clearly in every BBA

    Sent from my iPad using Forum Runner
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  • One way to keep investors away is to have a lock in clause of 2 years or 50% payment.

    Godrej and Ramprastha have done it.

    All these are nothing but excuses.

    Builders close to Politicians face severe liquidity issues near elections.
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