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 Sagar cool
    nothing special. wid tat rate u can get ur on 15 acres somewhere. forget about one flat.hahaa


    Happy hunting in Barmer... :)
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  • Looks good. On another question from seniors. When dealer pass on the discount it is on launch? Has anyone got the discount money 2% or 3%?
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  • Tats d prblm wid luxuryneeded people they just need flats and more flats. they dont have d guts and confidence to buy anything else specially professionals so called IT people and all. Its so cheap outside delhi and gurgaon. everything one needs sky deck. do u have ur personal helocopter. special designated play areas like tennis. ooh they hardly play becoz either they are at officeor when at home they are always on there laptops or ipads watching youtube,facebook or movies. gardens naah they dont use it either as it needs so much energy to cme down by lift .they are catching up on there sleep which is so precious for them even when they have slept for 8 hrs everyday of week.

    so wats tat overpriced luxury for whch they dont just use 90 percent of it beside acs which can be installed anywhere.
    So they must be buying it for safety yeah right. but there safety is in the hands of tat village people only becoz they wil be there guards who wil screen there wifes ,daugters up and down everytime they see them as it is happening in posh localities and lift waalas u dont wanna be wid them alone in lift for sure and last but not least there servants oooh.

    Wat im trying to say is NRIS and theese proffessionals never visit the site and just buy due to d plight of our currency value. Please see the gound reality > price is at 10000 without luxury specifications they are showing lots of greenery so its for trees right. so u can buy ur own farmhouse or many acres and put as many a trees u like .

    Just dont buy it for the sake of it as its location is not tat great not even good so please show some courage and energy as it will keep builders in check and will help the middle class to. sory for the long post,spelling,fullstopes andgrammatical mistakes as I'm no NRI. hahah
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  • Originally Posted by "golu11

    and I dont think India Tv etc would be interested in a news of such small builders...whose presense is limited to a small road of GGn and a small city of punjab.


    Media coverage now Depends on the marketing dollars Ireo can commit to the TV
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  • Hi Guys,

    I have been sent another demand (within 45 days one) from Ireo but they have not sent any allotment letter etc. I am nor worried about this as they have sent me the allotment letter, no confirmation fo the unit number other than broker confriming it to me and no official document stating the rate. Moreover, I thought that the 45 days time starts form the official launch date not when your cheque got cleared in pre launch.

    Has anybody else got the demand yet ?
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  • Originally Posted by Sale27
    Hi Guys,

    I have been sent another demand (within 45 days one) from Ireo but they have not sent any allotment letter etc. I am nor worried about this as they have sent me the allotment letter, no confirmation fo the unit number other than broker confriming it to me and no official document stating the rate. Moreover, I thought that the 45 days time starts form the official launch date not when your cheque got cleared in pre launch.

    Has anybody else got the demand yet ?


    Additionally, I have been told that my that there is a Rs 450 persqft for the parking on the top of my bsp which is 8750. So, effectively, I am paying 10% as per bsp of 9200.

    Can someone please help in understnding this ? Is it the case case with others who have bought the unit ? Can someone please clarify ?

    Thanks for your help in advance.
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  • Well, as far as I see, Ireo is shooting itself in the foot and hell bent on scr*wing its reputation day by day. No tier 1 developer raises a demand unless it would have issued the allotment letter. It sadly puts IREO in the league of 3rd grade developers. I am so disappointed with them! Blatantly illegal.
    Without allotment letter, one is not sure on the BSP, other applicable charges like parking, PLC, edc/idc, ifms, club etc; and on top of it no surety on the payment plan! what if these idi0ts ask for another couple of time linked payments from the launch. CLP should be changed to TLP (time linked payment) plan is guess. >:O
    meeting them this weekend on the issue, chip in if you wish Sale27.

    Originally Posted by Sale27
    Hi Guys,

    I have been sent another demand (within 45 days one) from Ireo but they have not sent any allotment letter etc. I am nor worried about this as they have sent me the allotment letter, no confirmation fo the unit number other than broker confriming it to me and no official document stating the rate. Moreover, I thought that the 45 days time starts form the official launch date not when your cheque got cleared in pre launch.

    Has anybody else got the demand yet ?
    CommentQuote
  • Originally Posted by Varun83
    Well, as far as I see, Ireo is shooting itself in the foot and hell bent on scr*wing its reputation day by day. No tier 1 developer raises a demand unless it would have issued the allotment letter. It sadly puts IREO in the league of 3rd grade developers. I am so disappointed with them! Blatantly illegal.
    Without allotment letter, one is not sure on the BSP, other applicable charges like parking, PLC, edc/idc, ifms, club etc; and on top of it no surety on the payment plan! what if these idi0ts ask for another couple of time linked payments from the launch. CLP should be changed to TLP (time linked payment) plan is guess. >:O
    meeting them this weekend on the issue, chip in if you wish Sale27.


    I would really like to talk to IREO guys in person about this but unfortunately, I am not in India. Please keep us posted about your conversations with them Varun.
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  • Originally Posted by Varun83
    meeting them this weekend on the issue, chip in if you wish Sale27.


    I would like to join along, hightime we actually do need to talk to them.

    Regards
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  • Originally Posted by Varun83
    Well, as far as I see, Ireo is shooting itself in the foot and hell bent on scr*wing its reputation day by day. No tier 1 developer raises a demand unless it would have issued the allotment letter. It sadly puts IREO in the league of 3rd grade developers. I am so disappointed with them! Blatantly illegal.
    Without allotment letter, one is not sure on the BSP, other applicable charges like parking, PLC, edc/idc, ifms, club etc; and on top of it no surety on the payment plan! what if these idi0ts ask for another couple of time linked payments from the launch. CLP should be changed to TLP (time linked payment) plan is guess. >:O
    meeting them this weekend on the issue, chip in if you wish Sale27.


    really sad and hugely disappointing .
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  • In ethics there is only one obligation, to honor commitments; in this case things are happening exactly as communicated by Ireo to channel partners. If some channel partner has misguided customer, the customer must make written complaint to Ireo against the channel partner; blaming Ireo is not justified.

    Not following the govt laid law is not unethical, the laws were never made with the intent of being followed; they are there to intimidate by selective prosecution. If not following laws is unethical, then Resale deals are all unethical as they involve undeclared income via cash component.

    Soft launch transactions are ethical as they are by voluntary choice to mutual benefit; those that feel unethical about not following all the govt laws have no option but to be absent from the RE field, this is their only Moral choice. In fact, in India, with the plethora of unreasonable and unfollowable laws, the only Moral choice seems to be to quit Life, but sadly that too is unlawful.
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  • See people who have entered into the project of Ireo at soft launch should be investors in my understanding.
    I think Ireo is supporting its investors by delaying the projects anyways and helping to increase the notional price for his investors.
    Few investors are ready to buy the property 9300 price also.

    Though I agree on the point that Ireo is under huge pressure to deliver project which they havent done yet.
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  • But all investors will need an enduser. Already sales are so sluggish in all high-priced projects whereever an enduser is reqd.
    Anyways, from say a 3+ years holding perspective, its an ok buy (but not a better buy than the other cheaper, better located, similar specs project which dont have undefined escalation clauses).

    Originally Posted by ankursharma1
    See people who have entered into the project of Ireo at soft launch should be investors in my understanding.
    I think Ireo is supporting its investors by delaying the projects anyways and helping to increase the notional price for his investors.
    Few investors are ready to buy the property 9300 price also.

    Though I agree on the point that Ireo is under huge pressure to deliver project which they havent done yet.
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  • The escalation is slowly but surely creeping back into each new launch equation. The big negative here is the non urgency of developer to deliver in time as the customer is picking up the tab.

    It may be a good idea that the developer should give a defined timeframe say 2.5 years to 3 years and any further delay the developer picks up the escalation for the differential time. Anyway the major bulk inputs purchases are done in the initial time periods say between 1-2 years and the escalation clause covers them over and above this period and can be pocketed by developer citing this increase from day 0 till completion and not till each material end day of purchase.
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  • But why will builders not put such clauses which benefit them as long as investors are there to take the whole inventory off their hands. And investors are hoping that they will palm off their units to some unsuspecting enduser before the escalation clause comes in play. Lets wait and see how this ponzi scheme plays off ...
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