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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  • I guess you are right. If I assume the bsp to be 9400 (8750+650), the figure does come close to the demand note amount. However, this would mean the parking charges are a whopping 12.5 lacs!!! car bhi de rahe hain kya parking ke sath?
    bhaiyon main nahi de raha ye payment. no clarity whatsoever, when i booked the bsp was 8750/- now it is 9400/- by the time allotment letter would come it would be more than 10K. what a bunch of jokers these guys are.
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  • Originally Posted by Varun83
    I guess you are right. If I assume the bsp to be 9400 (8750+650), the figure does come close to the demand note amount. However, this would mean the parking charges are a whopping 12.5 lacs!!! car bhi de rahe hain kya parking ke sath?
    bhaiyon main nahi de raha ye payment. no clarity whatsoever, when i booked the bsp was 8750/- now it is 9400/- by the time allotment letter would come it would be more than 10K. what a bunch of jokers these guys are.


    i will not be surprised to see many more comments like these . This is sad and makes the equation even worse and when you factor escalation clause, which surprisingly will not be one sided. God bless those who have PLCs also attached to it . This will take some time to get some premium .
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  • Originally Posted by Varun83
    I guess you are right. If I assume the bsp to be 9400 (8750+650), the figure does come close to the demand note amount. However, this would mean the parking charges are a whopping 12.5 lacs!!! car bhi de rahe hain kya parking ke sath?
    bhaiyon main nahi de raha ye payment. no clarity whatsoever, when i booked the bsp was 8750/- now it is 9400/- by the time allotment letter would come it would be more than 10K. what a bunch of jokers these guys are.


    Mr Varun,

    Were you not told by your dealer that parking will be added to BSP ?
    If not, kindly report matter to Ireo; I am sure they will blacklist him. You will save a lot of people a lot of anguish in future.
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  • Parking was to be and has been added @450 for 2B & 600 for 3B; this was known all along. 1 parking & 2 parkings respectively.
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  • Originally Posted by Lazybell
    Parking was to be and has been added @450 for 2B & 600 for 3B; this was known all along. 1 parking & 2 parkings respectively.


    Does this mean that whatever price ireo will launch the project at , there would be addition of parking charges on the top of that. Also will that be mentioned as parking charges in the allotment letter or combination of bsp and parking charges wpd be shown as bsp ?


    My demand letter shows that combination of bsp and parking charges as bsp due to be paid.
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  • what is surprising & worrying is that the gentleman did not know parking charges were extra :bab (59):

    Originally Posted by kinjalchato
    i will not be surprised to see many more comments like these . This is sad and makes the equation even worse and when you factor escalation clause, which surprisingly will not be one sided. God bless those who have PLCs also attached to it . This will take some time to get some premium .
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  • Originally Posted by ajgupta18
    what is surprising & worrying is that the gentleman did not know parking charges were extra :bab (59):


    That gentleman incidentally is already a one time ireo customer , just as i am . Ireo has at times included parking in BSP and at times they have not.

    Only time will tell who needs to worry and be shocked with these rates ( 8750 + 650 + 1400 = 10800 ) uhm uhm and people who have invested in such rates in the hope of exiting after 30% , all the best to them .
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  • Originally Posted by kinjalchato
    That gentleman incidentally is already a one time ireo customer , just as i am . Ireo has at times included parking in BSP and at times they have not.

    Only time will tell who needs to worry and be shocked with these rates ( 8750 + 650 + 1400 = 10800 ) uhm uhm and people who have invested in such rates in the hope of exiting after 30% , all the best to them .


    You being an Ireo investor might have known that since the SC ruling Ireo does not show parking charges as it can not as per law... :)
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  • All so called Ireo investors know that earlier parking was mentioned and now it is not; if one is an Ireo investor... :p
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  • Originally Posted by Lazybell
    You being an Ireo investor might have known that since the SC ruling Ireo does not show parking charges as it can not as per law... :)


    This is the response of ireo on the issue of charging Parking separately and it will suffice to know what is ireo position. I will also let your indirect comment on ' ireo investor ' pass as am used to such tactics :) . as i said i have been accused by people as being ireo agent on one hand an ireo basher on other hand depending on my post , so it really does not matter to me :), i believe in debating on merits of the arguments and not attaching motives, namecalling and slandering others ( direct or otherwise ) :) and hope so do you :). Your clever twisting of ireo customer to ireo investor , in the post that you cited is also noted .

    It appears their CRM officially do not agree to " since the SC ruling Ireo does not show parking charges as it can not as per law ".

    ---------------------------------
    I have discussed this matter with our Legal Department and what they have said is that:-

    The judgment of the Supreme Court cited by you has been misunderstood by you and in fact it does not prevent us from charging you for parking spaces allotted with your Apartment. However, as a matter of abundant caution, we discussed the judgment with a leading advocate of the Country as well as a retired CJI of the Supreme Court and they have both validated our understanding.

    In the above judgment, even the Supreme Court has acknowledged that the parking is chargeable. The only question which arose in that case was whether the Developer should load the price of the parking on the carpet area of the flat or it could be sold separately. In the peculiar facts and circumstances of that case, the Supreme Court held that the parking cost should have been loaded on the carpet area of the flat, and could not be charged separately. This is not the position in Haryana.
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  • Sorry for being offtopic here , Why is Anantraj not launching their Hallmark project in 63A since 63A and 67A are now approved ????


    If IREO has sent the demand notice for the corridors project and have mentioned the details of the project name and sector , Then They have majority of the approvals with them.

    Might be a chance that only EC and sanctioned Maps will be anticipated in due course.

    But This is surely not the right way , Pehle EDC/IDc used to be 100-120 ,Parking used to be 1 lac or 1.5 lac ,Very reasonable PLC's Then Govt taxes were increased
    , Sarkaar took investors for a ride and now developers are doing the same by Charging 4 lacs , 5 lacs for a slot of parking (ab cement zaada lagta hai kya basement banaane mein), PLC's ranging from 200 -2500 psf. (kaunsi nayi directions nikaali jaa rhi hai ab other then 4 directions)

    This is surely the height of fleecing
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  • Ireo is no holier than thou builder, neither should one have any expectation from them for being holy . They have got it wrong in this project and are antagonizing lot of their stakeholders / customers by adopting certain practices like exhorbitant PLCs at the pre launch, taking approval for comm ( rz ) and not clarifying its impacts, escalation clauses.

    None of these issues were there in the previous projects during the launch . Hope it is a project specific issue and does not percolate to other things.

    The best way to teach them a lesson is to make this project fail and hopefully then they will learn to take along their customers.

    These will be mitigated to an extent if they deliver their projects on time . If they do not and want to follow on the footsteps of DLF/ Unitech it will be hugely disappointing, as they are no unitech / dlf in scale , they need to be different , more customer friendly , if they want to maintain any customer interest.
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  • Sir,

    Anantraj will answer your wish about 63a on 28th of this month with a second soft launch happening at Maple Garden on NH-8 (Next to Shiv Murti).

    270 sq yard floor that was soft launched at 1.20 cr a year back is now getting launched at 1.50 cr.

    Both 67a and 63a got delayed and have benefited the builders and investors will help them exit at higher cost.

    All the best..

    RA

    Originally Posted by amit.bhalla
    Sorry for being offtopic here , Why is Anantraj not launching their Hallmark project in 63A since 63A and 67A are now approved ????


    If IREO has sent the demand notice for the corridors project and have mentioned the details of the project name and sector , Then They have majority of the approvals with them.

    Might be a chance that only EC and sanctioned Maps will be anticipated in due course.

    But This is surely not the right way , Pehle EDC/IDc used to be 100-120 ,Parking used to be 1 lac or 1.5 lac ,Very reasonable PLC's Then Govt taxes were increased
    , Sarkaar took investors for a ride and now developers are doing the same by Charging 4 lacs , 5 lacs for a slot of parking (ab cement zaada lagta hai kya basement banaane mein), PLC's ranging from 200 -2500 psf. (kaunsi nayi directions nikaali jaa rhi hai ab other then 4 directions)

    This is surely the height of fleecing
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  • I think what Ireo does with the undefined escalation clause will be decided by the market, if response is poor they will be left with no option but to shelve it.

    In this matter what KC said is right, investors who have already entered stand to gain by flopping this project... :)
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  • First lets C What Central Park 2 does with this clause (w.r.t Belgravia), They were the pioneers of this clause as they started it way back in 06 only with Bellevue Residences
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