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 Norway
    Golu Sir, and which builder is not greedy

    Perception has been created that Ireo is world class, ethical and customer centric company. In reality, it is just another regular small builder, which exist on a small road of gurgaon & outskirts of a small punjab city..I think Ludhiana.

    DLF,Unitech and Emaar are much better, bigger and transparent to deal with.
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  • Originally Posted by golu11
    Perception has been created that Ireo is world class, ethical and customer centric company. In reality, it is just another regular small builder, which exist on a small road of gurgaon & outskirts of a small punjab city..I think Ludhiana.

    DLF,Unitech and Emaar are much better, bigger and transparent to deal with.


    Why special love for almost bankrupt companies like DLF and Unitech with delivery timelines of close to a decade.

    Tata,Godrej,Mahindera and Shobha would have looked better in the list.
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  • You forgot to add that they are opportunist also. Chupkey Chupkey apna land bhi bech rahey hein... Woh bhi Bina clients ko bataaye...
    This is sheer cheating as people still think ireo city is if 600 acres.... In reality it has reduced by 30 acres...

    I am with you . ireo murdabaad, murdabaad murdabaad...

    Originally Posted by golu11
    Perception has been created that Ireo is world class, ethical and customer centric company. In reality, it is just another regular small builder, which exist on a small road of gurgaon & outskirts of a small punjab city..I think Ludhiana.

    DLF,Unitech and Emaar are much better, bigger and transparent to deal with.
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  • Originally Posted by rushilarora
    You forgot to add that they are opportunist also. Chupkey Chupkey apna land bhi bech rahey hein... Woh bhi Bina clients ko bataaye...
    This is sheer cheating as people still think ireo city is if 600 acres.... In reality it has reduced by 30 acres...

    I am with you . ireo murdabaad, murdabaad murdabaad...


    30 acres Just looks like the beginning.
    Let us see what happens in future.

    And what is the Guarantee that they have clear title of 600 acres?

    It was in Chautala regime that they accumulated Land.
    Even Punjab projects are due to good relations between Chautala and Badals.

    And after the conviction of Chautalas in JBT teachers scam; they may face some issues.And Elections create liquidity issues.
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  • :-)
    Abhi humko poora nahin na Janiye hein aap...


    Originally Posted by Norway
    :bab (59): why only Ireo Sir .., u didn't get the an allotment at 8750
    Just kidding ;)
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  • Originally Posted by golu11
    Perception has been created that Ireo is world class, ethical and customer centric company. In reality, it is just another regular small builder, which exist on a small road of gurgaon & outskirts of a small punjab city..I think Ludhiana.

    DLF,Unitech and Emaar are much better, bigger and transparent to deal with.



    I agree that Ireo is over hyped, especially so, in this forum .


    ..............but Ludhiana is not a small city............it is the largest city in the state of Punjab . Also, Ireo has a Project in Mohali, besides GGN & Ludhiana .


    Ludhiana - Wikipedia, the free encyclopedia
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  • Can't understand why this ireo bashing is going on this thread. Well they have done reasonably well so far.. Execution and construction quality is good enough. About pricing I think mostof the properties are priced between 8-10 k on extension road. So this project also priced well I suppose. Just my pov ...
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  • Originally Posted by rushilarora
    You forgot to add that they are opportunist also. Chupkey Chupkey apna land bhi bech rahey hein... Woh bhi Bina clients ko bataaye...
    This is sheer cheating as people still think ireo city is if 600 acres.... In reality it has reduced by 30 acres...

    I am with you . ireo murdabaad, murdabaad murdabaad...

    thanks, that's a very valid point. As per understanding builder selling raw land is just similar to a businessmen selling family gold ...indicator of tough financial times!!

    This lack of information is the main problem for unlisted builders like Ireo..website can claim any $x billion but whether the $ are actually in bank or only on website no one can verify.
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  • Originally Posted by kams..
    Can't understand why this ireo bashing is going on this thread. Well they have done reasonably well so far.. Execution and construction quality is good enough. About pricing I think mostof the properties are priced between 8-10 k on extension road. So this project also priced well I suppose. Just my pov ...


    Bashing is more due to Escalation Clause with Fill in the Gaps later on rather than pricing.
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  • Originally Posted by kams..
    Can't understand why this ireo bashing is going on this thread. Well they have done reasonably well so far.. Execution and construction quality is good enough. About pricing I think mostof the properties are priced between 8-10 k on extension road. So this project also priced well I suppose. Just my pov ...

    -They have given 21 pager form to customers...wants every details from customers but escalation clause have left it open. Why so much laziness?
    - they plan to do CIBIL verification of customers. Ok to do but at the same time then IREO should give an extract of there financial position to customers. why r they hiding financials from customer?

    Such actions doesn't go hand in hand with a ethical and customer centric company, that's not bashing but a reasonable conclusion.
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  • Originally Posted by rushilarora
    :-)
    Abhi humko poora nahin na Janiye hein aap...


    Sir , great respect for you , your comparative analysis for RTM apartments is a must read for all new investors..my favourite , and hence invested in Skyon :) it's an honour
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  • Just to update investors in this project, my cheque has not been encashed yet. It has been over a week. Anyone else in the same boat as me?
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  • Originally Posted by SunnySM
    Just to update investors in this project, my cheque has not been encashed yet. It has been over a week. Anyone else in the same boat as me?


    Sunny sir , maybe your broker has crossed you because of some commission issues , my advice , speak to ireo directly , .tell them your broker's detail , they have an RM associated with each group of brokers and you will be forwarded to that RM
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  • Thanks, Norway. I called IREO. They said they will arrange a callback from Sales as they do not have information about this project. Spoke to the broker. He said he has already sent it and most others whose cheques were given with me, have already got an allotment. I am planning to cancel my booking now and look at some resale projects.
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  • You will make a very wise decision at this time. I stopped my cheque last week.

    Also brokers are struggling and offering to get the booking done at 8750/- today also.

    Also CIBIL check is quite humilating as if they are giving us loan.

    It is customer who should do the check on their financials but it's quite surprising that they are doing check on customers.

    In my view some of the good work they have done on Grand Arch till now has gone to their heads which is bad. One should be humble and time changes very fast.

    Besides the rate of 8750/- and then hyping that first rate closed and rate revised to 9540/- itself is a joke.

    I am quite thrilled that the customers have given a big jolt to them in this project and proven again 'Customer is King'. If treated well he can make service provider else break.

    I have interacted with IREO in past and my POV is that they will definately take corrective action post this flop launch.
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