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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  • Market is absolutely dead right now , This is the cherry picking time for ppl with cash , ADVISE : Dont settle for price just yet with your respective broker , Find out what were the last traded price of that particular property and offer 5-10% less as your buying target
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  • True it's totally a buyers market and shall remain so for some time now.

    Guess it will be a test for people who can sustain their grounds and hold off for some time.

    Those expecting gains in short term should seriously stay away from this market.

    Sent from my GT-N5100 using Tapatalk 4 Beta
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  • Originally Posted by amit.bhalla
    Market is absolutely dead right now , This is the cherry picking time for ppl with cash , ADVISE : Dont settle for price just yet with your respective broker , Find out what were the last traded price of that particular property and offer 5-10% less as your buying target


    perfect mate.. I have seen the same.. :D
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  • Originally Posted by amit.bhalla
    Rahul ji , Short term investors will also be gone for a long long time....lol


    Its high time That the Word Investor gets some Sort of Respect.....

    Warna har chalta firta Banda investor ban jata hai booking ka cheque deke


    rightly said bhalla ji, investor word is meant for long term holiding people.
    RE investment has always been in years not in months.. people with month wise horizon will fall flat...
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  • Ireo have announced its new payment plan "Ireo Skyon Freedom". buyer pays 35% in first 12 months and then NO payment till possession with no extra cost.
    It will further keep resale price stagnent.It will put further pressure on new launch projects who were overpriced..
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  • whats the price for skyon in freedom plan ??
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  • Originally Posted by Norway
    Lol ..fallen , sitting , taking a nap or running that only time can tell :D , Anyhow i was wondering about the launch date...anyone with inside info pls !
    And by the way ppl who can afford to buy units in Crs ..that around 1200-1300 investors or maybe more , hopefuly they have some very little knowledge of RE or i wonder just how these poor dears managed to make so much money in the first place to be able to invest in Crs :)


    Sir with due respect, if I am not mistaken, you are one of them.

    Amit Ji not to forget the broker discount while negotiating.

    Cheers.

    CA.
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  • I think this is the last confirmation we needed for concluding that there is indeed a huge slowdown in sales for all the builders..looks like very tempting proposition depending on (additional) pricing...you can lock in a skyon unit by paying 35% and forget about any payment for 2.5-3 years...

    Originally Posted by amitgargi
    Ireo have announced its new payment plan "Ireo Skyon Freedom". buyer pays 35% in first 12 months and then NO payment till possession with no extra cost.
    It will further keep resale price stagnent.It will put further pressure on new launch projects who were overpriced..
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  • when there are very few buyers and when enough inventory is there with the builder and he has to compete with the resale market, this is what he will do.

    As I keep on mentioning, due to future redemption issues, ireo has to monetize its landbank and hence the reason why they released so much inventory in corridor and these plans.

    In other launched projects like GA/ Uptown/ IVV atleast most of the inventory would have been released in the market , skyon ( due to EC issues ) might have been delayed a little.

    It all depends what are the limitations of the scheme, for instance if you are not allowed to sell , then you end up paying 600 per sq feet more than last price , for getting funding for 70% of the value for 1.5 to 2 years, is it worth it.
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  • Cheeky alan ji , I was talking about the Resale activity offers from brokers , So Broker discount would not be applicable here. For Original bookings , Yes absolutely You should negotiate
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  • Well, to give you the figures it has more then approx 120 apartments per acre so density put this in the congested societies category..
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  • Originally Posted by amit.bhalla
    Cheeky alan ji , I was talking about the Resale activity offers from brokers , So Broker discount would not be applicable here. For Original bookings , Yes absolutely You should negotiate


    Dear Bhalla Ji,

    I had understood your point and intentionally mentioned that one should negotiate considering that the broker discount has also been or would be received by the investor which works our to a handsome amount. To get a very good deal it would not hurt to start at a discounted price in comparison to booking price and show broker discount as money earned from the booking. Might get deals even at booking price depending upon the situation the seller is in.

    Cheers.

    CA.
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  • true , this could be one of the cases
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  • I just had a word with the relevant people. The project launch is now expected around January. Due to the slowdown ireo has planned this delay. So those who have booked will have to wait a little longer but that means a bigger return for your buck.
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  • Originally Posted by smokeywaters
    I just had a word with the relevant people. The project launch is now expected around January. Due to the slowdown ireo has planned this delay. So those who have booked will have to wait a little longer but that means a bigger return for your buck.


    I was told the launch is in July ..& the next payment will be due around Jan .
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