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The Corridors by IREO Developers in Sector 67A, Gurgaon

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The Corridors by IREO Developers in Sector 67A, Gurgaon

Last updated: March 20 2022
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  • #941
    #941

    Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

    Originally posted by rushilarora View Post
    So is it true with Ireo only? Name any builder which is launching projects at below market price or at not so greedy price. Do we as investor or end user are the only ones entitled to earn premium. I if by putting few lakhs we have been making multiple returns then why won't these builders make money who invest in crores.

    The best way to show ones disagreement is by not buying such projects at these price levels. Unlike in our country where we don't have an option to select none from the list of candidates in election, atleast in real estate this option can be exercised.

    But the fact is none will do it. It's not the image of the builder that is illusionary... Rather this mad race of making multiple times of return through Re is illusionary. I may rant about high prices in All the threads on this forum or in private but the moment I would have some surplus with me, and I would run to gurgaon to see if I can invest and make some quick gains


    Why is greed only associated with the builder. can you find one good Samaritan in the market who is willing to sell his project at justified and ethical price in gurgaon. no one is willing to leave even 100 Rs of premium out of this so called illusionary market price... No one boss.

    So why this fuss all about? While we point our finger to these builders we don't see the three pointing back to us. Woh Karein to chor aur hum Karein to maakhanchor...


    LOL. U seem to have taken over the cause of Builder's lobby .


    Everybody/ every legal Business is supposed to earn money, that is the basic essence of business transactions .

    ...............but who defines the percentage of those Profits & who controls the ways & means by which these Profits are earned & often multiplied by dubious means ???

    Do these Builders meet internationally acceptable industry standards for professional competence, ethics and client care ????





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    -To provide the best housing value possible through the use of quality materials, services and construction methods .

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    • #942
      #942

      Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

      Disappointed by the escalation clause, soon this will become a norm for the remaining builders too and will be a standard too like the uncalled for High PLCs which everyone is charging now.
      Still for GCX, I dont find anything better than the ongoing IREO projects and Heritage One. Like KC said projects have to be gauged by the progress and confidence that the builder will complete the project without excessive delays apart from obvious things like specs/location etc.
      I was waiting too for 67A but now putoff by the PLCs, separate parking charge, and now this escalation clause, and all this for a location which is a mystery, no connectivity and not sure abt state of water/power/sewerage. Hence for now will wait & watch on where 67A goes.

      Originally posted by manoj2066 View Post
      Here is the exact clause:

      10. The Applicant understands and agrees that the Basic Sale Price of the said Apartment has been calculated based on the prevailing purchase rates of raw materials and input costs including all services at the time of original booking (‘Input Costs’). The escalation, if any, in the Input Costs, on the expiry of the Grace Period or the handing over of possession of the said Apartment, whichever occurs earlier (‘Chargeable Period’), to the extent of ___% thereof shall be absorbed by the Company and balance shall be paid by the Applicant. Furthermore, such escalation shall be charged on such percentage of the Basic Sale Price, being the deemed Input Costs to the Company, as assessed by the Company at quarterly intervals. As on the date of this Agreement, the Input Costs shall be deemed to be ____% of the Basic Sale Price (“Chargeable Escalation”).

      The benchmark of determining the escalation in the Input Costs shall be the Wholesale Price Index derived from the monthly indexed rates for ‘All Commodities’ published on the website of the Economic Advisor to the Government of India, Ministry of Commerce and Industry at “http;//eaindustry.nic.in” (”WPI”). The escalation in the Input Costs shall be calculated as the difference between the published WPI for the month in which the original booking for the said Apartment is made (”Base WPI”) and the WPI for the last month of the Chargeable Period (”Escalated WPI”). The Applicant shall be liable to pay the Chargeable Escalation on demand by the Company, in accordance with the super area of the Apartment, irrespective of its Payment Plan.

      The Applicant agrees that if at any point during the Chargeable Period the Government of India stops publishing the WPI due to any reason(s), the Base WPI as well as the Escalated WPI shall be derived from alternative indexed rates published by the Government of India or any national institute of repute.
      Last edited March 8 2013, 10:33 AM.
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      • #943
        #943

        Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

        Being in 40 acres ..if it ends up being better planned & designed than VV & uptown, don't see the reason why this project price should not appreciated in a year or two, anyways if the bubble will burst ..everything would go down !
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        • #944
          #944

          Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

          Originally posted by manoj2066 View Post
          Btw, dont think the project is selling very well, My broker had told me he wasnt able to manage the smallest size and was asking to buy the 2+1 study one. I asked him to cancel it and I am not interested. Today he called back saying he has spoken to Ireo and he would be able to arrange the smallest size

          Dont know what that means but dont think there are too many takers.

          Thanks
          Dear manoj2066,

          I have had to return a cheque for 2B, do share the details of this good broker, my client will be very happy...

          Regards.
          I sell my Talent to your Reason...
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          • #945
            #945

            Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

            Mostly investors are rushing towards this hoping to make good returns after an year (or earlier), but they would also need an enduser at the end of this ponzi game.
            Think from an enduser's viewpoint. Suppose Im an enduser ambling around GCX after 1 or 2 yrs and looking for a 3BHK. I see Uptown ready, IVV almost ready with an amazing iconic design. On GC road side, a small but nice Heritage One also ready and Pioneer Presidia almost ready. And all of these at lesser cost, comparable specs and better location !!
            So what do you think an enduser would choose ??

            Originally posted by Norway View Post
            Being in 40 acres ..if it ends up being better planned & designed than VV & uptown, don't see the reason why this project price should not appreciated in a year or two, anyways if the bubble will burst ..everything would go down !
            Last edited March 8 2013, 02:50 PM.
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            • #946
              #946

              Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

              Originally posted by sh-saxena View Post
              Mostly investors are rushing towards this hoping to make good returns after an year (or earlier), but they would also need an enduser at the end of this ponzi game.
              Think from an enduser's viewpoint. Suppose Im an enduser ambling around GCX after 1 or 2 yrs and looking for a 3BHK. I see Uptown ready, IVV almost ready with an amazing iconic design. On GC road side, a small but nice Heritage One also ready and Pioneer Presidia almost ready. And all of these at lesser cost, comparable specs and better location !!
              So what do you think an enduser would choose ??

              Well then we do have to wait for the Specs before we condem it to be over priced ..( my info says this is going to be a super lux project), .....The nice heritage one, pioneer & uptown not in competition here !

              Anyways this project will be ready much later than all the projects you have mentioned ..by then this place would be full of end users ..! Ppl with higher budget would of course prefer better specs , a km here there won't make much difference
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              • #947
                #947

                Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                Mine is Holier then thou....

                Dear Sir,

                Kuch to hei... Shaayad pichley janam ka. Kitna bhi avoid karoon aapko par aap aisaa jaal bicchatey ho ki pakad aur jakad he letey ho...

                Its been a long time I have been loosing interest in IREF because there is nothing new to contribute. Same old story of rates, location, SPR Vs Gcx Vs Dew, Ireo promoters Vs IREO bashers, Builders Lobby Vs Poor citizen's lobby, RE Bull Vs RE Bear, Investor Vs End user, Ethical Vs Unethical, Cash Vs All white, I/Me/Mine Vs Rest of All, crusaders of citizens right Vs supporters of every thing evil.....

                To be honest sir, I have done all this a million times and and dont really see anything new in what you just wrote.... Neither I have anything to write for or against the points raised by you.
                But in all humility would like to draw your attention to the fact please for sometime try and read few posts without the filters of the position that you have taken. It would help us in taking a meaning full discussion forward.

                Now what you just wrote I have not been able to understand the purpose of writing it here. Especially to the points I wanted to communicate.

                Neither I SUPPORT builder lobby as mentioned by Manoj nor I am taking the side of the builder like beautifully explained by you below.

                You yourself have mentioned somewhere that you had made 200%-300% return in plot and forget about you there are many across India/world who would have made multiple times return in Real estate. Then why the money earned by us as Investors is termed as "Mehnat ki Kamai' and what builders are doing is "Chori Ki Kamai". When all of us are making money from the same market and infact our valuations are going up due the high prices brought by these builders then why dosent that income pinch us and why does there rates hurt us.

                There are millions in India, working as a couple or as individual who earn a salary of 30-40k per month and dream of owning a house. But will they ever be able to buy that house. Dont you think we all have contributed in every little way and taking these prices further up. Should they not accuse all of us who have been buying multiple properties and increasing the prices and reducing the inventory in the market?

                If you look from their lense then we are equally wrong as much the builders are. Builders are being termed as Villains because they are charding obscene PLC, Escalation clause , Higher BSP.... Similarly we should also be termed villains for these families for making property go out of reach from their hand.

                Now if someone reads this post and feels that I am supporting Builder lobby then my sympathies for their understanding. But if someone can understand the simple point that by blaming builders for the greed and reason for price inflation is not correct.

                If I ask you to read your own lines in the context of being expressed by lower income group people directed to all of us, then you would understand why I am putting all of us and the builder lobby in the same platform.

                Just replace the highlighted words in place of the preceeding words written by you below...

                Originally posted by abc111 View Post
                Poor Builders.

                Quite agree with this; we should allow them (Investors HIG) also to make money.
                200% margins are so less for them (Investors HIG)

                Mercedes and BMWs are so outdated.
                Poor Builder's should at least have a jet of their own. (Investors HIG)

                And elections are coming.
                And who will sponsor the need of Builder's friends (or masters ) Politicians.
                Friend in need is Friend indeed. (Investors HIG)

                Inflation is so high.
                So what if (Investor is giving a logic of high resale price is due to holding cost,oppurtunity cost, interest cost etc etc )Builder's include the escalation clause; what' wrong in it.
                Builders's (Investors HIG) with their meagre resources can't hedge the inflation risk but wives of India are extremely smart.They will manage the inflation risk and pay whatever money builder demands at the time of possession.

                Builder's Legal team( Investors/HIG's broker) is quite efficient and believe in fair and safe play.
                And they are quite clear that advertisements are just advertisements.
                If someone's gets fooled by them ; its not the mistake of Builders (Investors HIG).

                Lets stop painting ourselves as Saints and builders as only cause of evil.

                RA.
                Last edited March 8 2013, 03:02 PM.
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                • #948
                  #948

                  Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                  Originally posted by rushilarora View Post
                  Dear Sir,

                  Kuch to hei... RA.
                  Rushil Bhai. a new fan addition in your long list.. we (Everyone) is guilty of raising prices..
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                  • #949
                    #949

                    Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                    Hi every one just dropped in to confirm weather the cheques are banked or not ....?
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                    • #950
                      #950

                      Re : The Corridors by IREO Developers in Sector 67A, Gurgaon

                      Originally posted by rushilarora View Post
                      Dear Sir,

                      Kuch to hei... Shaayad pichley janam ka. Kitna bhi avoid karoon aapko par aap aisaa jaal bicchatey ho ki pakad aur jakad he letey ho...

                      Its been a long time I have been loosing interest in IREF because there is nothing new to contribute. Same old story of rates, location, SPR Vs Gcx Vs Dew, Ireo promoters Vs IREO bashers, Builders Lobby Vs Poor citizen's lobby, RE Bull Vs RE Bear, Investor Vs End user, Ethical Vs Unethical, Cash Vs All white, I/Me/Mine Vs Rest of All, crusaders of citizens right Vs supporters of every thing evil.....

                      To be honest sir, I have done all this a million times and and dont really see anything new in what you just wrote.... Neither I have anything to write for or against the points raised by you.
                      But in all humility would like to draw your attention to the fact please for sometime try and read few posts without the filters of the position that you have taken. It would help us in taking a meaning full discussion forward.

                      Now what you just wrote I have not been able to understand the purpose of writing it here. Especially to the points I wanted to communicate.

                      Neither I SUPPORT builder lobby as mentioned by Manoj nor I am taking the side of the builder like beautifully explained by you below.

                      You yourself have mentioned somewhere that you had made 200%-300% return in plot and forget about you there are many across India/world who would have made multiple times return in Real estate. Then why the money earned by us as Investors is termed as "Mehnat ki Kamai' and what builders are doing is "Chori Ki Kamai". When all of us are making money from the same market and infact our valuations are going up due the high prices brought by these builders then why dosent that income pinch us and why does there rates hurt us.

                      There are millions in India, working as a couple or as individual who earn a salary of 30-40k per month and dream of owning a house. But will they ever be able to buy that house. Dont you think we all have contributed in every little way and taking these prices further up. Should they not accuse all of us who have been buying multiple properties and increasing the prices and reducing the inventory in the market?

                      If you look from their lense then we are equally wrong as much the builders are. Builders are being termed as Villains because they are charding obscene PLC, Escalation clause , Higher BSP.... Similarly we should also be termed villains for these families for making property go out of reach from their hand.

                      Now if someone reads this post and feels that I am supporting Builder lobby then my sympathies for their understanding. But if someone can understand the simple point that by blaming builders for the greed and reason for price inflation is not correct.

                      If I ask you to read your own lines in the context of being expressed by lower income group people directed to all of us, then you would understand why I am putting all of us and the builder lobby in the same platform.

                      Just replace the highlighted words in place of the preceeding words written by you below...




                      Lets stop painting ourselves as Saints and builders as only cause of evil.

                      RA.
                      Beautifully said Sir ,
                      It is safer to invest with a builder who is making 200% profit at least then he will complete his project on time with promised lux specs , If not then how will he make his 300% profits from his next project
                      We all are in this game of greed , the builder , investor & the end user ( he is looking at a long long term appreciation )
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