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 .
Read more
Reply
1985 Replies
Sort by :Filter by :
  • bhai mujhe pls de do tution...aapki definition se to world ki saari markets license raj pe chalti hain..

    and aapki definition se to builder / politicians cartel will never let prices fall..yet it happened in 2008-2009 (as you highlight yourself) ...can you shed more light on how this happened?


    Originally Posted by abc111
    Real estate market in India is one of the most opaque market.

    It is the worst example of License Permit Raj.

    There are huge entry barriers of Power and influence .

    There is no way to gauge the actual rates at which sales happen.
    Even in fresh launch; underwriters buy cheap.

    It is cartel and oligopoly of Builders with backing of politicians because of which they get away with things which are out right illegal.

    And People who think that Indian Real estate is an example of free economy need some basic lessons in Economics.

    Anyone interested in tuitions????
    CommentQuote
  • Originally Posted by ajgupta18
    bhai mujhe pls de do tution...aapki definition se to world ki saari markets license raj pe chalti hain..

    and aapki definition se to builder / politicians cartel will never let prices fall..yet it happened in 2008-2009 (as you highlight yourself) ...can you shed more light on how this happened?


    Builders/Politicians will try to sustain market at any cost but power of fundamentals can't be suppressed for long.

    The elections next year can act as the catalyst.

    In 2008-09 many builders could have gone bankrupt; but the present Govt. forced the banks to roll over the debts.
    CommentQuote
  • Guys, the discussions r somewhat going off topic & are tending to take a Personal agenda .

    This is just to remind that we expect everyone to treat each other with a certain amount of courtesy and respect . Any sort of reciprocal hostility between members needs to be avoided .



    ************************

    Personal Feuds - Zero Tolerance Policy

    A personal feud can be defined as an ongoing, largely personal rather than issue-driven, reciprocal hostility between two members, or among three or more members in groups, whatever you wish to identify, wherein the primary focus is a flame war intended to undermine forum member reputations, and not to advance arguments on policy, philosophy, politics or other primary interests of our forum.

    Quote:
    Our Admins and moderators are not here to cast blame or choose sides. We can't be expected to research the pros and cons of your personal arguments with one another. We prefer that forum reputation be based on your commentary and dialogue on the issues of importance to all of us.


    Insults/Flaming
    IREF was put together for people to come together and help each other, collaborate and discuss in a positive way – not bash on someone because you don't like their idea, or because they don't share the same views as you. We are big into the free speech idea here. So you're free to say what you think – but do it in a constructive and positive way. We encourage mature debates – discourage childish arguments. Personal attacks, insults, rudeness, racism, threats, name calling or unnecessarily inflammatory posts will NOT be tolerated. Common courtesy, politeness and respect for fellow members, along with constructive posting of opinions are essential in preventing posts from being edited and/or deleted, or having threads locked. Whilst we encourage healthy disagreement/debate, please maintain respect towards fellow members at all times.
    CommentQuote
  • ok, i will try to make sense out of your points...due to lack of funding options, builders were cash stripped with inflated debt, which reflected in their balance sheets...hence investors decided its too risky investing in such a builder?

    Isen't this free market?

    In essence i agree with you that market is not "perfect", but saying its a license raj and builders / politicials / brokers cartel control all the prices is grossly wrong

    Originally Posted by abc111
    Builders/Politicians will try to sustain market at any cost but power of fundamentals can't be suppressed for long.

    The elections next year can act as the catalyst.

    In 2008-09 many builders could have gone bankrupt; but the present Govt. forced the banks to roll over the debts.
    CommentQuote
  • purrfect...

    would love to have a sun-downer with ajguptaji...

    It will certainly be a very lively evening... :)

    ps. more enjoyable than making money...

    Originally Posted by ajgupta18
    my pov

    RE market in India is an un-regulated Free market free of subsidies. In a free market, price is at which transactions happen (read resale). Price is the purest form of information (it reflects market information, demand-supply, liquidity etc etc)

    2) Undervalued/Overvalued is a market participants perception based on his assessment of risk and returns potential. Each investor will have his / her own assesment and come to what they feel is the "fair" price at which the market should trade. If this fair price is lower than market they sell if its high they buy.

    3) In context of 2) complaining that "prices are insanely high" is fruitless. According to your assessment price is high, for someone else it might be the fair price. If enough participants feel market price is too high, then market will correct.

    4) Incentive: for investors and builders / contractors is to maximise return and minimize risk.

    Builder tries to pass on the risk of Inflation to Investor. So, investor need to take this additional risk in his assesment. He might conclude that even with this added risk a particular investment is "better" than one without it. So instead of complaining, add it to your risk assessment.

    Builder tried to increase return by launching at higher than market prices. An investor needs to asses how this affects his return potential and add it to his assessment. So no point complaining about it.

    5) Villain? : neither builder / investor is a villain for trying to maximise his return and reducing his risk. What makes people villains are unfair practices = late delivery, change in super area, shoddy construction, not delivering on promises etc and not paying on time for investors

    6) Regulation: Is required to stop unfair paractices, NOT to control price. Price controls can only be put by governments and for social reasons (protecting poor, increase developments etc)

    Complaining about high prices is similar to asking for subsidies. If prices is higher than your fair price assesment do not invest. Complain about mal-practices and unfair practices which distort markets.
    CommentQuote
  • I as an investor would not like to feel like I have stolen a loaf...

    I as a builder would not like to...

    both make money on free market; by voluntary choice to mutual benefit...

    I think ajguptaji has the concept internalised... :)

    ps. never do in life that that makes you feel small... no amount of money can compensate for that...

    pps. do that and only that that makes you feel like a man...

    ppps. 'you' here does not refer to MANOJaji, I have the highest regards for him... :)

    Originally Posted by MANOJa
    I have 2 things to say here -



    1 ) Yes, Investors r greedy, but the Builders r the much bigger devil here . By equating the greed of the Builders with that of the Investors, one cannot shift the blame or maybe, ask Investors to share the blame in equal proportion .

    2 ) Yes, Investors r part of this whole system & they help in feeding the growth of this evil, but as i said, u r looking to equate 2 different segments/ two different greed's / two different motives & objectives . It is like saying that a man who steals a loaf of bread to feed his family & the Person who hoards all the food in the world ( to later sell in the black market ) r thief's & both need to be hanged .



    No body is a saint here & whoever is looking to paint Investors /Builders as Saints is living in a fools paradise, but there is no point in equating them . Both of them thrive because of each other & because of the corrupt system .


    CommentQuote
  • My post was in reference to one of the posts of rushil . The discussions were tending on moral values & were comparing & equating the morals of an Investor with a Builder .


    My post was in reply to the said post .


    I hope, i have made my point clear . If not, do let me know .



    Originally Posted by Lazybell
    I as an investor would not like to feel like I have stolen a loaf...

    I as a builder would not like to...

    both make money on free market; by voluntary choice to mutual benefit...

    I think ajguptaji has the concept internalised... :)

    ps. never do in life that that makes you feel small... no amount of money can compensate for that...

    pps. do that and only that that makes you feel like a man...

    ppps. 'you' here does not refer to rushilaroraji, I have the highest regards for him... :)
    CommentQuote
  • While we argue over morals and greed here, at the same time few lesser mortals would have already gulped down the first lot of 67a and you may again hear the news "All sold out" tomorrow.... and hear the next crazy rate tomorrow...

    So lets rest this case here and wish all the best to the investors/end users for this project and I hope they get what they want out of this project.
    I feel those on the forum who write to share and learn, do take out pains to find time from their respective schedule. So respect every one's opinion.

    Whilst the idea is to debate and discuss but at the same time also take cognizance to the fact that there are many who may be contemplating investing in this project for their own reasons,should not get get dissuaded/persuaded for/against this project.

    Best of luck to every one. Enjoy the ride.Play safe.

    Finally everything about RE can be summed up in time and tested proverb

    "TO EACH ITS OWN"

    RA.
    CommentQuote
  • Originally Posted by ajgupta18
    bhai mujhe pls de do tution...aapki definition se to world ki saari markets license raj pe chalti hain..

    and aapki definition se to builder / politicians cartel will never let prices fall..yet it happened in 2008-2009 (as you highlight yourself) ...can you shed more light on how this happened?


    If builders were allowed to go bankrupt; then it would have meant free market.

    Anyway its going out of context; so we can continue this on bubble burst thread if you wish so.
    CommentQuote
  • Ireo should have named this project as ' The Footpath' instead of' corrider'. Strong possibility whosoever books it might end up on a footpath in coming years!!
    CommentQuote
  • I hope the editing makes it fine... :)

    Originally Posted by MANOJa
    My post was in reference to one of the posts of rushil . The discussions were tending on moral values & were comparing & equating the morals of an Investor with a Builder .


    My post was in reply to the said post .


    I hope, i have made my point clear . If not, do let me know .
    CommentQuote
  • I have advised my clients otherwise...
    And hope to add clients by continuing to advise otherwise...

    Aristotle, the father of logic, taught me that present a case and be ready to provide answers to questions...
    Ayn, Aristotle's only worthy heir, taught me never to indulge in and never to give in to 'Argument from Intimidation'... :)

    Reputations in the market are built on actions, and the unavoidable consequences that actions always have...

    ps. If it came down to walking on a road, roads inside Ireo projects might just be preferable... :)

    Originally Posted by golu11
    Ireo should have named this project as ' The Footpath' instead of' corrider'. Strong possibility whosoever books it might end up on a footpath in coming years!!
    CommentQuote
  • Originally Posted by golu11
    Ireo should have named this project as ' The Footpath' instead of' corrider'. Strong possibility whosoever books it might end up on a footpath in coming years!!


    Now that only time can tell if those invested endup sitting on the footpath or siting in the back seat of a E class Merc
    CommentQuote
  • Originally Posted by Lazybell
    I have advised my clients otherwise...
    And hope to add clients by continuing to advise otherwise...

    Aristotle, the father of logic, taught me that present a case and be ready to provide answers to questions...
    Ayn, Aristotle's only worthy heir, taught me never to indulge in and never to give in to 'Argument from Intimidation'... :)

    Reputations in the market are built on actions, and the unavoidable consequences that actions always have...

    ps. If it came down to walking on a road, roads inside Ireo projects might just be preferable... :)

    sorry buddy, I don't understand poetry so couldn't understand your full para which seemed like a poem to me.

    Regarding reputation build on action...father of marketing'Philip Kotler' once said that' Perception is reality and actual actions/products doesn't matter.

    Ireo is a mere perception that it is luxury & best in class builder else it is just like any other ordinary builder in the market.
    CommentQuote
  • On reading all of this discussions today, i dont think there is any relevance in defending or speaking against the "prices" of a project .

    One has the option to buy or not buy this at this price .
    one can discuss the pros and cons of location/builder specs etc , but as rightly point out by RA ... noone is forcing you to buy .

    And FYI , escalation clause has been in every project of ireo after skyon launch . So nothing new . They have mentioned it in the booking form . If you are not ok with it , one is still open to withdraw . They have not banked the cheques and revealed this clause . This clause is available beforehand .So calling them words like chor and cheats would be non sensical and unfair .

    P.S. I am not invested in any of the ireo projects , just have high respect for their work ethics .
    CommentQuote