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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  • i dont see lack of funds as a challenge but the cash component......
    if one can buy 67A then even uptown can be bought if one can arrange the cash... for the check amount bank any ways will fund it....
    as for not having 20% to pay immediately well.... most projects any ways take 20% within 30-45 days so if some one can manage for new launch am sure he can manage for resale....


    Originally Posted by yogi_dude
    Ireo is the most aggressive of builders in any property meet in any part of the world ... they have specifically targetted NRI's and very successfully sold the dream of Ireo townships .... Also, a lot of their sales are institutional sales / bulk booking by corporates ....and Sumit gets it bang on ....reason for investment in 67A project is strictly lack of funds to invest in uptown
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  • Can the question be asked in this manner then...

    Given Uptown smaller size apartment is available at 5200-5400 (checked a few posting on 99acres), what price 67 A project is justified at. It is not as well located as Uptown, but would be better for investment (ROI)because of slower/reduced outflow.
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  • I am also interested in this development as well as Central Park 2.

    This is my first time with relation to purchasing property in India thus was looking for advice.

    Can anyone talk me through the step by step process if I were to purchase this development or Central Park 2.

    It would be handy to know, what I need to be aware of and legally what paperwork would need to be submitted.
    I have, obviously undertaken some research and made enquiries however there seems to be alot of knowledge on this forum thus thought I would seek your opinion.
    Thanks
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  • Originally Posted by Sumit76
    I would anyway prefer Uptown over the new project. Construction is in full swing. Till date Ireo has confirmed that the possession date is the same as originally given. Surrounded by good projects. Only reason in can think whybpeople would want to invest in 67A could be lack of cash for Uptown premium, large down payment or someone trying to make money short term in investing in pre launch.

    Hi Sumit76,

    I found your analysis on reasons for buying pretty accurate.

    I would like to invest for very short time say 3 to 6 months. I plan make money based in inaugural discount and agent commission which would get passed to me. This way I should get the property around 5000 psf and probably sell it at 5500 in next 3-4 months. Though I have money to pay for the installments as worst case scenario but that is not the plan. I am aware this is not a "out of the box" unique idea but are their any cons or problems in this way of thinking?

    Senior members and others please advice.
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  • the entire pre launch investment is based on this assumption and calulation and it pays most of the time espcially if you the money to hold it if need be....
    no problems except the potential diffculty of exit if the project does not take off...

    Originally Posted by ravika
    Hi Sumit76,

    I found your analysis on reasons for buying pretty accurate.

    I would like to invest for very short time say 3 to 6 months. I plan make money based in inaugural discount and agent commission which would get passed to me. This way I should get the property around 5000 psf and probably sell it at 5500 in next 3-4 months. Though I have money to pay for the installments as worst case scenario but that is not the plan. I am aware this is not a "out of the box" unique idea but are their any cons or problems in this way of thinking?

    Senior members and others please advice.
    CommentQuote
  • Originally Posted by ravika
    Hi Sumit76,

    I found your analysis on reasons for buying pretty accurate.

    I would like to invest for very short time say 3 to 6 months. I plan make money based in inaugural discount and agent commission which would get passed to me. This way I should get the property around 5000 psf and probably sell it at 5500 in next 3-4 months. Though I have money to pay for the installments as worst case scenario but that is not the plan. I am aware this is not a "out of the box" unique idea but are their any cons or problems in this way of thinking?

    Senior members and others please advice.


    Interesting! What if market takes reverse gear and/or prices are not revised by the builder for long time? As somebody indicated in some threads, Skyon is still available at launch price. If you have planned for this then it might make sense to jump in.

    Also broker's discount is not released by the builder until after one month of 30% payments made by you which might take more than a year. I recently got my broker's discount for VV whereas I booked in pre-launch.
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  • Checked the wikimapia. There is a village - Dhamaspur right next to the project site. (well, if the attached site plan is correct)

    Originally Posted by Amit08
    I could find one map showing the location - welcome to ireo.com.

    Is it the correct location? If not, could somebody attach the location map or any relevant link?

    Regards
    CommentQuote
  • Checked the wikimapia. There is a village - Dhamaspur right next to the project site. (well, if the attached site plan is correct)

    Originally Posted by Amit08
    I could find one map showing the location - welcome to ireo.com.

    Is it the correct location? If not, could somebody attach the location map or any relevant link?

    Regards
    CommentQuote
  • Originally Posted by raja625
    Interesting! What if market takes reverse gear and/or prices are not revised by the builder for long time? As somebody indicated in some threads, Skyon is still available at launch price. If you have planned for this then it might make sense to jump in.

    Also broker's discount is not released by the builder until after one month of 30% payments made by you which might take more than a year. I recently got my broker's discount for VV whereas I booked in pre-launch.


    well is skyon avlble at buy rate ?? if it is then it would be an interesting buy considering 6500 per sq ft tag now looks kind of ok seeing all the new launches at very ambitious pricing getting launched and even getting investors !!!
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  • Just got call from my broker.

    Launch price would be : 5700 psft

    Discount : 260 psft

    Plus broker discount which he is not clear yet. And offer is valid for today.
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  • Originally Posted by ISHANb
    well is skyon avlble at buy rate ?? if it is then it would be an interesting buy considering 6500 per sq ft tag now looks kind of ok seeing all the new launches at very ambitious pricing getting launched and even getting investors !!!


    ishan jee...

    hi!!! I was on a long sabbatical from IREF.. its good to be back.. :bab (35):
    yeah i can confirm that till about 20 days back i had a couple of brokers literally begging that skyon is available at launch price and shouldnt be left.
    Infact, it was available to me even during the time i was searching for victory valley and for a moment i was tempted too, kyuki, skyon's location is better than IVV.. but the thing with skyon is that since IREO has a lock in time which stipulates that you cannot sell the flat till first three installments are paid... Therefore, deals are more or less happening on power of attorney or good faith or both..,.

    In one of the deals, the seller just wanted me to pay installment # 2 to ireo which was overdue since a long time... he just wanted me to pay the rest of the money upon transfer.. elderly man with children abroad.. the kind of person who can any day be beaten the sh!t out of, and money could be recovered.. but then that was my first thought.. I'm in my mid twenties, it still takes me a while to get the mature thoughts out..lol
    On second thoughts, there are a lot of projects in gurgaon, waiting to picked up. Whats the point of pickin' up something which has a possibility of litigation later on. I let it go and settled for IVV.
    I guess, the inability of the seller to provide the buyer with clear and marketable title is the chief cause for the poor resale value. The initial high launch price doesn't help either. once the third installment is paid, i expected the resale price to pick up a bit.
    Till then if someone has the ba!!s to buy it on PoA, then he undoubtedly is HUD HUD DABANGG DABANGG DABANGG :) :) :bab (22):
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  • They have 2000 units to sell and with such price and location, the offer is going to get better day y day.

    Originally Posted by lalit_fin
    Just got call from my broker.
    Launch price would be : 5700 psft
    Discount : 260 psft

    Plus broker discount which he is not clear yet. And offer is valid for today.
    CommentQuote
  • I doubt the offer will become better. With 2000 flats they will continue to sell based on their goodwill (understand they have not delivered anything yet but still) and keep increasing the prices; taking advantage of the current trend of increasing property prices. It works well for investors as well so to say. With Grand Arch to be delivered in a year and a half, they would further strengthen their reputation as one of the best if not the best i.e. If they deliver what they promised.

    Answer to Amit's question on ideal price, I would say ~5100 would be the price I would be interested to buy. Unless you are an investor and would sell the unit with 300 - 400 rs profit regardless of the entry price


    Originally Posted by Amit08
    They have 2000 units to sell and with such price and location, the offer is going to get better day y day.
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  • But i think i was told that one can pay the third installment in advance also and can get the transfer done in books of IREO , isnt it ??I mean i was told by IREO CRM about VV when it was at this stage , doesnt this also applyto other projects of IREO ?

    Originally Posted by St_Anger
    ishan jee...

    hi!!! I was on a long sabbatical from IREF.. its good to be back.. :bab (35):
    yeah i can confirm that till about 20 days back i had a couple of brokers literally begging that skyon is available at launch price and shouldnt be left.
    Infact, it was available to me even during the time i was searching for victory valley and for a moment i was tempted too, kyuki, skyon's location is better than IVV.. but the thing with skyon is that since IREO has a lock in time which stipulates that you cannot sell the flat till first three installments are paid... Therefore, deals are more or less happening on power of attorney or good faith or both..,.

    In one of the deals, the seller just wanted me to pay installment # 2 to ireo which was overdue since a long time... he just wanted me to pay the rest of the money upon transfer.. elderly man with children abroad.. the kind of person who can any day be beaten the sh!t out of, and money could be recovered.. but then that was my first thought.. I'm in my mid twenties, it still takes me a while to get the mature thoughts out..lol
    On second thoughts, there are a lot of projects in gurgaon, waiting to picked up. Whats the point of pickin' up something which has a possibility of litigation later on. I let it go and settled for IVV.
    I guess, the inability of the seller to provide the buyer with clear and marketable title is the chief cause for the poor resale value. The initial high launch price doesn't help either. once the third installment is paid, i expected the resale price to pick up a bit.
    Till then if someone has the ba!!s to buy it on PoA, then he undoubtedly is HUD HUD DABANGG DABANGG DABANGG :) :) :bab (22):
    CommentQuote