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 Lazybell
    It is the HC. There is a case where forged land ownership documents were submitted and tcp license obtained. tcp has now decided to obtain land ownership details of pending licenses from district revenue officials through official channels...
    Ireo 67A stuck again...
    We can I think say goodbye to 8750... by the time the govt gets its act together 5 figures would be justifiable by Ireo... :)


    what is the source of this info please.

    since you say tcp licence obtained , there is not a single licence that has been issued in sector 67a , one can check on dtcp website .

    as far as HC stay on sectors 63a and 67a , they have been removed and there are HC rulings on that , which have been reported in iref, please check.

    On the issue of tcp, please read toi article where tcp official is refering to a commercial project in sector 65 ( http://articles.timesofindia.indiatimes.com/2013-02-25/gurgaon/37288375_1_dtcp-licence-application-land-ownership ) , hope you are not confused with this :). It will be nice if we verify the facts , maybe there is some other case :) .

    as far as pricing is concerned immensly avoidable just as Tata ( 112, 113 ), emaar ( 112 ) and dlf ultima, too much of future premium built in todays pricing. disastrous for end users to enter at this price and risky for investors in my pov.

    --------------------------------------------

    Following the procedural irregularity in giving licence to a builder, the Department of Town and Country Planning (DTCP), in a recent order, has asked its officials to obtain land ownership certificates only through official channels.

    Anurag Rastogi, director general, DTCP, has issued the internal office order after a legal case being heard in Punjab and Haryana High Court against the builder for fudging the land ownership records for a commercial housing project in Sector 65. TOI has a copy of the order, which has been circulated to all STPs.

    According to the DTCP officials, a builder was issued licence in 2007 and in the application of builders for the licence, Gurgaon Tehsildar had stated that the builders/companies are owners and in possession of the land, whereas the land, measuring 5.025 acre out of 7.15 acre applied for licence, was already in the name of some other companies.

    Without crosschecking the land records, the DTCP had not only granted the licence to the builder but further renewed it till January 30, 2014. The DTCP came to know about the discrepancy when the real owner of the land approached the court.

    In order to avoid such a situation, it is hereby directed that in future the ownership certificate from District Revenue Officer should be obtained through official channel while processing licence application, stated Anurag Rastogi, DG, DTCP, in the order.

    In the High court, the matter has been taken very seriously. Sensing the seriousness of the case, the double bench of the court had observed: Readings of the DTCP notings indicate that there were large number of discrepancies and therefore, show-cause notice was issued for cancellation of the licence, to which reply was filed and proceedings were dropped by the DTCP. The court had also stated that DTCP had sought second legal opinion, which went in favour of the licencees stating that there's no violation of terms and conditions of the Grant of License. Perusal of the file tentatively indicates that the licence was not granted as per the provisions of the Act.

    In the order, court stated that this petition could not be dismissed simply on the ground that the petitioners have no locus standi to challenge the licence granted to the builders. "It has come on record that certificates were given by the Revenue Officers to show that the builders were owners when license was issued which tentatively indicates that license was granted contrary to provisions of the Act, rules."

    The court had also mentioned that the ownerships certificate was given in connivance of the government officials to defeat provisions of law established on record.
    CommentQuote
  • Dear Kinjalchato,

    You are right, I was refering to this news only. This does not involve Ireo or 67A directly, but the change in procedure consequent to this affects and delays all pending licenses including Ireo 67A.
    CommentQuote
  • Originally Posted by Lazybell
    Dear Kinjalchato,

    You are right, I was refering to this news only. This does not involve Ireo or 67A directly, but the change in procedure consequent to this affects and delays all pending licenses including Ireo 67A.


    i agree with your conclusion that any change in procedure might delay licence grant, possibly one of the reasons why so few were granted in the last 2 months .
    CommentQuote
  • re: IREOs "THE CORRIDORS" Sec 67A

    Originally Posted by kinjalchato
    what is the source of this info please.

    since you say tcp licence obtained , there is not a single licence that has been issued in sector 67a , one can check on dtcp website .

    as far as HC stay on sectors 63a and 67a , they have been removed and there are HC rulings on that , which have been reported in iref, please check.

    On the issue of tcp, please read toi article where tcp official is refering to a commercial project in sector 65 ( http://articles.timesofindia.indiatimes.com/2013-02-25/gurgaon/37288375_1_dtcp-licence-application-land-ownership ) , hope you are not confused with this :). It will be nice if we verify the facts , maybe there is some other case :) .

    as far as pricing is concerned immensly avoidable just as Tata ( 112, 113 ), emaar ( 112 ) and dlf ultima, too much of future premium built in todays pricing. disastrous for end users to enter at this price and risky for investors in my pov.

    --------------------------------------------

    Following the procedural irregularity in giving licence to a builder, the Department of Town and Country Planning (DTCP), in a recent order, has asked its officials to obtain land ownership certificates only through official channels.

    Anurag Rastogi, director general, DTCP, has issued the internal office order after a legal case being heard in Punjab and Haryana High Court against the builder for fudging the land ownership records for a commercial housing project in Sector 65. TOI has a copy of the order, which has been circulated to all STPs.

    According to the DTCP officials, a builder was issued licence in 2007 and in the application of builders for the licence, Gurgaon Tehsildar had stated that the builders/companies are owners and in possession of the land, whereas the land, measuring 5.025 acre out of 7.15 acre applied for licence, was already in the name of some other companies.

    Without crosschecking the land records, the DTCP had not only granted the licence to the builder but further renewed it till January 30, 2014. The DTCP came to know about the discrepancy when the real owner of the land approached the court.

    In order to avoid such a situation, it is hereby directed that in future the ownership certificate from District Revenue Officer should be obtained through official channel while processing licence application, stated Anurag Rastogi, DG, DTCP, in the order.

    In the High court, the matter has been taken very seriously. Sensing the seriousness of the case, the double bench of the court had observed: Readings of the DTCP notings indicate that there were large number of discrepancies and therefore, show-cause notice was issued for cancellation of the licence, to which reply was filed and proceedings were dropped by the DTCP. The court had also stated that DTCP had sought second legal opinion, which went in favour of the licencees stating that there's no violation of terms and conditions of the Grant of License. Perusal of the file tentatively indicates that the licence was not granted as per the provisions of the Act.

    In the order, court stated that this petition could not be dismissed simply on the ground that the petitioners have no locus standi to challenge the licence granted to the builders. "It has come on record that certificates were given by the Revenue Officers to show that the builders were owners when license was issued which tentatively indicates that license was granted contrary to provisions of the Act, rules."

    The court had also mentioned that the ownerships certificate was given in connivance of the government officials to defeat provisions of law established on record.


    It seems to be EMAAR MGF commercial( license 1034A) but license issued in 2008, not 2007.
    CommentQuote
  • Originally Posted by kinjalchato


    as far as pricing is concerned immensly avoidable just as Tata ( 112, 113 ), emaar ( 112 ) and dlf ultima, too much of future premium built in todays pricing. disastrous for end users to enter at this price and risky for investors in my pov.


    Ireo is offering new launch around resale rates of neighboring projects, whereas the other examples are way beyond resale rates in surrounding projects. That I think is a major difference.
    CommentQuote
  • Originally Posted by Sale27
    Hi guys ,

    Has the price for the ireo 67a project been increased to 9450 now ??


    Also, if I book in pre launch and then want the cancellatoon of my booking at launch time due to inability to paying the next payments, what is the ireo cancellation policy ?? Do they return the full money and if so, how much time does it take to get the refund?


    Lastly , Is it advisable to invest in this project for short term ( sell at launch )??


    Can seniors please advise me on the above query ?
    CommentQuote
  • Originally Posted by Sale27
    Hi guys ,

    Has the price for the ireo 67a project been increased to 9450 now ??


    Also, if I book in pre launch and then want the cancellatoon of my booking at launch time due to inability to paying the next payments, what is the ireo cancellation policy ?? Do they return the full money and if so, how much time does it take to get the refund?


    Lastly , Is it advisable to invest in this project for short term ( sell at launch )??


    Do not know about their cancellation policy, however would not suggest over the pre launch and selling at launch unless in worst case scenario you have a holding power till 30-40% payment.
    CommentQuote
  • Originally Posted by ng13
    Do not know about their cancellation policy, however would not suggest over the pre launch and selling at launch unless in worst case scenario you have a holding power till 30-40% payment.


    Company pre launch 8750 , company price 9250 = 500 difference ! Premium approximate 250 Sweet flipping :bab (59):

    Why refund when u are getting some premium or u think thier won't be any premium at all ?

    Will Ireo openly inform the investor regarding their refund policy in a new project ? ...thereby attracting more small speculators ...!
    CommentQuote
  • Originally Posted by Norway
    Company pre launch 8750 , company price 9250 = 500 difference ! Premium approximate 250 Sweet flipping :bab (59):

    Why refund when u are getting some premium or u think thier won't be any premium at all ?

    Will Ireo openly inform the investor regarding their refund policy in a new project ? ...thereby attracting more small speculators ...!


    Then absolutely no risk involved. One should sell everything and book a hundred flats at 10L each and sell them at the time of launch for 15L. Thereby increasing his net worth by 50% in a matter of months. So tempting....:bab (3):
    CommentQuote
  • Originally Posted by ng13
    Then absolutely no risk involved. One should sell everything and book a hundred flats at 10L each and sell them at the time of launch for 15L. Thereby increasing his net worth by 50% in a matter of months. So tempting....:bab (3):


    bhaisaab that's is the catch ..they won't let you book more than one flat per category ! They are coming up with 250 flats or so ...they have to keep all their investors happy !
    Please don't sell of everything in a hurry :bab (59):
    CommentQuote
  • Originally Posted by Norway
    bhaisaab that's is the catch ..they won't let you book more than one flat per category ! They are coming up with 250 flats or so ...they have to keep all their investors happy !
    Please don't sell of everything in a hurry :bab (59):


    oh so u must be booking atleast 5-6 (in the name of every family member you v got). Or mayber even 15-20 (including the extended family as well).
    CommentQuote
  • Another end user getting angry . Must be having big pockets. Yes thee are people who will but 4 or 5 and they will exit at 10 percent only may be 20 in one or 2. So wats bad about it.premuim will be there as many people will wake later as they look for the response or dont have good brokers.
    CommentQuote
  • finally IREO collecting cheque...detail is

    Favor “IREO GRACE REALTECH PVT. LTD.”


      2BR 12.5 Lacs
      2BR+S 14.5 Lacs
      3BR 17 Lacs
      3BR+S 18.5 Lacs
      3BR+F+S 24 Lacs
      4BR+F+S 27.5 Lacs
    CommentQuote
  • whts the final BSP
    CommentQuote
  • Originally Posted by samie001
    finally IREO collecting cheque...detail is

    Favor “IREO GRACE REALTECH PVT. LTD.”


      2BR 12.5 Lacs
      2BR+S 14.5 Lacs
      3BR 17 Lacs
      3BR+S 18.5 Lacs
      3BR+F+S 24 Lacs
      4BR+F+S 27.5 Lacs


      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):

      Ireo is collecting cheques for this project from last more than 2 years, what's new in that?

      ab tak to aadhe hindustaniyoon ke cheques ikathe kar liye honge ireo ne.....:bab (59):
    CommentQuote