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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  • IREO already have license(No LC-2456 ). This was granted on 21st Feb 2013.
    LC-2456 2013 5 21/02/2013 Precision Realtors Pvt. Ltd. COMM (RZ) 37.5125 Gurgaon 67A PRECISION GUR-67A CIR 20/02/2017

    Visit link Welcome to Town and Country Planning and click on List of Licenses link and check details.
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  • Sunnyji,

    Here is how the situation can be viewed - here is a relatively new builder who has not yet delieverd a single project, and is pre-launching a property on the periphery of the city, at a rate on which lot of good RTM properties are available at very good loaction, the layout of the project is not yet shared by builder, agreement terms & conditions are incomplete (escalaltion clause at least), no transparency of the finanical position of the builder, approvals for the project are not in place. On top of this, builder is doing a CIBIL check on buyers!!!

    On the other hand a buyer like you - the one with the money in yr pocket still feeling nervous on yr check not being banked!!! Is it worth it??? They are not selling a prime property in the heart of the city at ludicorously lower market price...then why this helplessness?? In fact the builder should be feeling nervous about selling its unit in these times.

    My two cents - With all due respect- stop the check and get out of this madness.

    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?
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  • Originally Posted by JaglanS
    IREO already have license(No LC-2456 ). This was granted on 21st Feb 2013.
    LC-2456 2013 5 21/02/2013 Precision Realtors Pvt. Ltd. COMM (RZ) 37.5125 Gurgaon 67A PRECISION GUR-67A CIR 20/02/2017

    Visit link Welcome to Town and Country Planning and click on List of Licenses link and check details.


    This says this is a commercial licence , this is not the right link
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  • Originally Posted by Gaurav256
    Sunnyji,

    Here is how the situation can be viewed - here is a relatively new builder who has not yet delieverd a single project, and is pre-launching a property on the periphery of the city, at a rate on which lot of good RTM properties are available at very good loaction, the layout of the project is not yet shared by builder, agreement terms & conditions are incomplete (escalaltion clause at least), no transparency of the finanical position of the builder, approvals for the project are not in place. On top of this, builder is doing a CIBIL check on buyers!!!

    On the other hand a buyer like you - the one with the money in yr pocket still feeling nervous on yr check not being banked!!! Is it worth it??? They are not selling a prime property in the heart of the city at ludicorously lower market price...then why this helplessness?? In fact the builder should be feeling nervous about selling its unit in these times.

    My two cents - With all due respect- stop the check and get out of this madness.


    And Sir why is a CIBIL check a bad thing? ?
    Secondly of properties avalible on re sale ..with lots of up front payment , or loads of coloured money ..and very heavy cash flow,only ok for end user sitting on loads of instant cash !
    Relative new builder ..with Grand Ach almost ready ..( for everyone to see) , work on VV & Uptown going on !
    Escalation clause ..DLF has it and lets see which big builder don't include it anymore in future
    As per the plans , layout not show this is a pre launch , prime property ..with developments going on anyhow this project should be ready in next 5 years ..
    Lots of negetives ...here are some positives also
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  • Originally Posted by rushilarora
    No one would have felt bad for you had you got stuck with this project in a short term. So dont feel bad for your broker.
    If investment was for short term then I guess it was a good decision to let it go.

    Dear Rushilji, I am a big follower of your posts. I see you mention if investment is "short term" then its good to let this go.

    But if the investment horizon is long term, would you think at this high price point - 9400psf its a decent bet?. Particularly when there are many alternative options in Dwarka expressway coming up.

    Was keen to get your view thus on IREO corridors as a long term investment?
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  • Glad to see that DLF had the guts to make the right decision to lower the price for Ultima from initial supposed to be 10K to 9.5 to 9 to 8.5 and now pre launch at 7500 plus parking and club which works out to approx. 8.2-8.3K. I still find it high and do not think that at this stage after en cashing so many cheques (mine still excluded), Ireo could think of lowering the price. Infact Ultima has better specs and fixed furniture is included.

    I am seriously thinking about investing in resale in DLF 82A project at approx. 6800 levels which has similar specs. like Ultima. This gives the option of upfront payment of 40% including some coloured mone.

    Any advises are welcome and I am open to beneficial criticism.

    Cheers.

    CA.
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  • Its not related to guts that dlf lowered prices , it must be due to the poor market response at higher levels . Because i havent seen dlf giving an advertisement in newspaper just 1 day before launch , which they did saying , DLF Ultima launching tomorrow .

    Also Ireo i have heard is on the verge on increasing co price from now 9400 to 10,000 something .


    Originally Posted by Cheeky AlAn
    Glad to see that DLF had the guts to make the right decision to lower the price for Ultima from initial supposed to be 10K to 9.5 to 9 to 8.5 and now pre launch at 7500 plus parking and club which works out to approx. 8.2-8.3K. I still find it high and do not think that at this stage after en cashing so many cheques (mine still excluded), Ireo could think of lowering the price. Infact Ultima has better specs and fixed furniture is included.

    I am seriously thinking about investing in resale in DLF 82A project at approx. 6800 levels which has similar specs. like Ultima. This gives the option of upfront payment of 40% including some coloured mone.

    Any advises are welcome and I am open to beneficial criticism.

    Cheers.

    CA.
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  • Dear

    If you go to a you will find various tables with different stakes. I even if you are playing a very easy game like black jack, you can choose your stacks.

    Same is the case with gurgaon RE.same game with different stakes. you choose your stake and play accordingly.

    Coming back to 67a, one of the reasons why I said it's not good for short term is because of its location and it's price. second most important thing is that of a supply. so enter with min of 2years of holding power to mitigate all the three risk mentioned above.

    Now coming back to ROI perspective, there could be some positive for this project even at this price and that is cash flow. Though past returns are not guarantee of future return yet the way gurgaon RE has changes its colour shape and size every 12 months, there could still be some juice for die hard Ireo punters.

    For those who want to enter a project with a combination of Ireo and GCx, substantial upfront cash and cheque is required. so if one has a 5year horizon then this project can fit the bill.

    I can't give my views on Dew vis a vis this project as both are different investment strategy so can't be compared.

    Originally Posted by mokap25
    Dear Rushilji, I am a big follower of your posts. I see you mention if investment is "short term" then its good to let this go.

    But if the investment horizon is long term, would you think at this high price point - 9400psf its a decent bet?. Particularly when there are many alternative options in Dwarka expressway coming up.

    Was keen to get your view thus on IREO corridors as a long term investment?
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  • I think u r talking about DLF Primus, great location, specs and contractor. Go for it, make sure u buy a non PLC unit as most units have 10/25 % PLC's. Disposing PLC units in that project is difficult and non PLC ones are in demand.

    Thanks




    Originally Posted by Cheeky AlAn
    Glad to see that DLF had the guts to make the right decision to lower the price for Ultima from initial supposed to be 10K to 9.5 to 9 to 8.5 and now pre launch at 7500 plus parking and club which works out to approx. 8.2-8.3K. I still find it high and do not think that at this stage after en cashing so many cheques (mine still excluded), Ireo could think of lowering the price. Infact Ultima has better specs and fixed furniture is included.

    I am seriously thinking about investing in resale in DLF 82A project at approx. 6800 levels which has similar specs. like Ultima. This gives the option of upfront payment of 40% including some coloured mone.

    Any advises are welcome and I am open to beneficial criticism.

    Cheers.

    CA.
    CommentQuote
  • One of My rule of investment: go only for projects where Plc units command premium over non Plc ones...
    Go for project where bigger units have higher price per ft than smaller...

    ps. The rich always grow richer much faster than the not so rich; hikes are steepest at the higher levels...
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  • Originally Posted by Lazybell
    One of My rule of investment: go only for projects where Plc units command premium over non Plc ones...
    Go for project where bigger units have higher price per ft than smaller...

    ps. The rich always grow richer much faster than the not so rich; hikes are steepest at the higher levels...


    Good POV
    I was told by the Ireo people that this would be launched by the end of the month ..
    Any one with any fresh updates ..Thks
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  • I think that is not the case when the PLC's are absurd like 1500 psf, for a 2000 sq. feet appt which turns out to be about 20 lakhs.

    Just my POV.

    Thanks





    Originally Posted by Lazybell
    One of My rule of investment: go only for projects where Plc units command premium over non Plc ones...
    Go for project where bigger units have higher price per ft than smaller...

    ps. The rich always grow richer much faster than the not so rich; hikes are steepest at the higher levels...
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  • All Pov's are good...if God is kind and luck holds out , in a failed project the best units are useless and vica versa
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  • Originally Posted by Norway
    All Pov's are good...if God is kind and luck holds out , in a failed project the best units are useless and vica versa



    I see some of the stalwarts of Ireo missing .

    .............maybe, they r mourning:o, because of a failed effort :(.

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  • Manoj


    It's too early to write obituary about this project. Like u, me and others have been proven wrong umpteenth number of times about the doomsday prediction of ireo or any other project, history might repeat again.

    It's ridiculous to think and propogate time nd again that few veterans and stalwarts of IREf are the ones who are calling the shots in gurgaon real estate.

    Fact is that whether Ireo, dlf or tata , their launch price or absorption has been beyond any ones understanding. There exists a market for all kind of projects and all kind of prices .....

    We can't be so rooted to our previous learnings that we fail to observe the next trends and keep writing based on our old ideologies.

    Lets give time to ourselves before we make our predictions ....then only our advise or predictions would be worth it's salt...


    Ra


    Originally Posted by MANOJa
    I see some of the stalwarts of Ireo missing .

    .............maybe, they r mourning:o, because of a failed effort :(.

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