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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  • AmitMM - this will make lot of potential investors choose the Unitech Projects

    I know a lot of people who wanted to buy floors but at the last moment got interested in IREO with the initial price of 5200-5300
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  • quite true... the unitech crest view would be a gainer if ireo comes at 6000


    Originally Posted by amit001
    AmitMM - this will make lot of potential investors choose the Unitech Projects

    I know a lot of people who wanted to buy floors but at the last moment got interested in IREO with the initial price of 5200-5300
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  • Amit is this price of 5950 confirmed or is it still speculative
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  • according to my sources , this is exactly like skyon , first co. accepted cheques photocopies at 5500ish , then now increased price acceptance of chequ photocopies is 5950 . It was similar in case of skyon first at 6500 , then7000 and then 7500/7700 .

    Some lucky few (time will tell :bab (59): .. hehehe) will even get them at 5500ish (the first price)
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  • bishan bhai - at what price this project will make sense as per ur knowledge
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  • Originally Posted by ISHANb
    according to my sources , this is exactly like skyon , first co. accepted cheques photocopies at 5500ish , then now increased price acceptance of chequ photocopies is 5950 . It was similar in case of skyon first at 6500 , then7000 and then 7500/7700 .

    Some lucky few (time will tell :bab (59): .. hehehe) will even get them at 5500ish (the first price)

    what crap is that!!! No process, no clarity, no transprency, completely at the mercy of the builder. And I hear IREO is FDI funded, better managed, professional etc etc.
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  • Originally Posted by Amit08
    what crap is that!!! No process, no clarity, no transprency, completely at the mercy of the builder. And I hear IREO is FDI funded, better managed, professional etc etc.


    Well amit001 , as mentioned by quite a few members , keeping the location , the brand value IREo carries and everything , ideal pricing would have been 5100 pre launch and then subsequent increases on 500 each with launching at 6000ish with sample flat . A win win situation for all people !! But i guess we dont live an ideal world , do we !!


    And Amit08 i dont see anything wrong in this , IREO wanted to sell a certain number of units at a certain price and then certain at a certain price !!! This is basically due to achievement of selling targets !!! i dont see anything wrong with that !!! If one did want a flat at a desired price one should have made a decision earlier . Every co. does it and there nothing unethical in it according to me !!!
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  • As per my broker the project has 1000 plus flats and out of that approx. 200 flats have been sold in pre launch at 5550. The remaining will be launched at 5950 psf. For these 200 flats there was a mad mad rush as no. of cheques were many times over and plus some large real estate dealer had underwritten a huge number flats hence very few got the flats at 5550.

    My POV, price of 5950 is very very high and highly avoidable by both end users or investors of any time horizon, as much better options are available all around.
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  • As per my broker the project has 1000 plus flats and out of that approx. 200 flats have been sold in pre launch at 5550. The remaining will be launched at 5950 psf. For these 200 flats there was a mad mad rush as no. of cheques were many times over and plus some large real estate dealer had underwritten a huge number flats hence very few got the flats at 5550.

    My POV, price of 5950 is very very high and highly avoidable by both end users or investors of any time horizon, as much better options are available all around.
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  • Originally Posted by ravika
    As per my broker the project has 1000 plus flats and out of that approx. 200 flats have been sold in pre launch at 5550. The remaining will be launched at 5950 psf. For these 200 flats there was a mad mad rush as no. of cheques were many times over and plus some large real estate dealer had underwritten a huge number flats hence very few got the flats at 5550.

    My POV, price of 5950 is very very high and highly avoidable by both end users or investors of any time horizon, as much better options are available all around.



    Agreed it looks very expensive at this price.

    But doesnt M3M Merlin start looking attractive in comparison if someone gets it at 6100? Better location, almost similar price with much better specifications?

    Views please.
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  • Originally Posted by kinguncle
    Agreed it looks very expensive at this price.

    But doesnt M3M Merlin start looking attractive in comparison if someone gets it at 6100? Better location, almost similar price with much better specifications?

    Views please.

    One bad price doesn't justify another.
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  • Originally Posted by Amit08
    One bad price doesn't justify another.



    Thanks for your views, agree completely.

    But among the devil and the deep sea, which one looks ok?
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  • Originally Posted by kinguncle
    Agreed it looks very expensive at this price.

    But doesnt M3M Merlin start looking attractive in comparison if someone gets it at 6100? Better location, almost similar price with much better specifications?

    Views please.


    you wont get M3M merlin in original booking at 6100 (less 250 TPR) anymore , may be in resale , because now price is 6350 and 6500 (less TPR) in original booking depending on tower !!!

    Also Merlin carries bigger sizes and this IREO new project carries small sizes , also i guess spec of Merlin are better . SO comparisons cannot be drawn too much between the two projects!
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  • Originally Posted by ISHANb
    you wont get M3M merlin in original booking at 6100 (less 250 TPR) anymore , may be in resale , because now price is 6350 and 6500 (less TPR) in original booking depending on tower !!!

    Also Merlin carries bigger sizes and this IREO new project carries small sizes , also i guess spec of Merlin are better . SO comparisons cannot be drawn too much between the two projects!



    Thanks for your views.

    Think by the time I decide which one to go for, the prices run away.
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  • the price indeed is 5950. though no confirmation on underwriting but looks there has been a corporate deal of one whole tower at much lower price...
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