Announcement

Collapse
No announcement yet.

Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

Collapse
X
Collapse

Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

Last updated: April 1 2014
70 | Posts
17938 | Views
  • Time
  • Show
Clear All
new posts

  • Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

    Just got to know that Ireo is launching studio apartment in sector 59/60 at 15000 per sq feet. Min size 900 sq feet . These will be managed by Grand Hyatt as the proposed 7 star hotel is also at the same location.
    Apart from it there are retails shops at 35k per sq feet. Do not have full info but will update as and when I get complete info.

    If any other member has got some more info, kindly share.
  • #2

    #2

    Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

    Some additional info from broker mail
    The sizes are 555/925, 758/1263, 955/1592 for the carpet/super area of service, 1 bedroom and 2 bedroom options.

    Rate 13500 psf

    Comment

    • #3

      #3

      Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

      And for a limited period, after which the rate to increase to 15,000/-
      If it was easy, everybody would be doing it.

      Comment

      • #4

        #4

        Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

        Does IREO Mgt really think people would pay that much for studio /1 bed..
        if this is the pricing what should the pricing for flats in the vicinity!

        Comment

        • #5

          #5

          Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

          I have seen the spreadsheet they are using to convince brokers to pitch this project... The cash flow is based on an assumption of studios being hired 75% occupancy and per day rate of 8500/ day

          The yield is about 13%...after paying for the costs and management expenses

          (But they have cleverly not mentioned the cost of funding during the 5 year construction period)


          Originally posted by nitinchawla View Post
          Does IREO Mgt really think people would pay that much for studio /1 bed..
          if this is the pricing what should the pricing for flats in the vicinity!

          Comment

          • #6

            #6

            Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

            I think IREO Guys plan to project themselves as ULTRA PREMIUM and are leaving no stones unturned to reach that objective. The first thing to do in such a situation is to launch their projects above prevailing market prices to a select few (obviously only a select few will be able to shell out these prices) and then maintain an edge over competition by providing exceptional ambience and services. This is possible only when you have a huge land cachement in one particular area and you project that area as ULTRA PREMIUM, and provide amenities to that effect, and develop that area in totality in that direction. That is what IREO is aiming to do. They are yet to launch any Commercial / Office space but mark my words. That will be priced in such a way and will be projected in such a way that if you want to flaunt an address, it has to be IREO, rest all is way way below.

            And once they have managed to do that, they will have number of top executives making a beeline to get hold of these properties. The only catch is they are yet to deliver ! They only have high pitch sales as on date, so there are maybe only 1% people who believe them. Rest all are sitting on sidelines.

            Only time will tell whether they are able to dwarf DLF with their weight or DLF outmaneuvers them remains to be seen. But as on date they are positioning themselves as the TOP DESTINATION IN GURGAON.

            Comment

            • #7

              #7

              Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

              Originally posted by rushilarora View Post
              Just got to know that Ireo is launching studio apartment in sector 59/60 at 15000 per sq feet. Min size 900 sq feet . These will be managed by Grand Hyatt as the proposed 7 star hotel is also at the same location.
              Apart from it there are retails shops at 35k per sq feet. Do not have full info but will update as and when I get complete info.

              If any other member has got some more info, kindly share.
              are you RE Bull in the mask of a Bear ?

              Comment

              • #8

                #8

                Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

                Pasting from the email I received from broker ,


                IREO presents premium Serviced Apartments, a project that offers the luxury of hotel like immaculate services with the personalized feel of home. Located in IREO City, a Mega New-Age Integrated Township development spread over 750 Acres in Sectors 58, 59, 60, 61 on Golf Course Extn Road which is on the way to developing as the most premium micro-market in Gurgaon. The site for IREO's Upscale Branded Serviced Apartments is on the intersection of two 60 Meter Wide Main Sector Roads in the heart of the Ireo City.
                This will be a part of a 4 Acre Mixed Used - Hospitality, Retail and Entertainment unit- located in the heart of Ireo City where the Ground & First Floor shall be Retail & Entertainment over approx 1,30,000 Sq.ft of area
                and second floor upwards will be the Upscale Branded Serviced Apartments.
                The project will be managed by ‘IREO Hospitality Management Company’ the hospitality business
                arm of IREO. The developer will also tie-up with a premium International Hospitality operator to ensure incomparable quality standards.

                There are 2 options of Serviced Apartments available -
                Type A - If the objective is primarily for an investment that gives Annuity Return and Appreciation. In this case, a Premium International operator shall be engaged to manage, operate and market the units under this pool for a period of 15 years. The product shall be maintained to world-class standards and marketed through-out the Operator’s international network for Value Maximization.
                Type B - If the objective is primarily for Self Use with the flexibility of putting on rent when required.- Shall be maintained by IREO Facilities Management Team, the unit owner shall be entitled to opt for Self use or renting to Third Parties as per his \ her discretion.
                Fully Furnished, Equipped & Ready To Live In Apartments in configuration of
                Unit Type Built-up Area (Sq.ft) Super Area (In Sq.ft)
                Studio Apartment 5 55 Sq.ft 925 Sq.ft
                1 BHK 758 Sq.ft 1263 Sq.ft
                2 BHK 955 Sq.ft 1592 Sq.ft

                Common facilities and services include Library Lounge, Multi Cuisine Restaurant, Swimming Pool, Fitness Centre, Business Centre, Convenience Stores.

                Why should one invest?
                High annual return and appreciation with low Operating and fixed costs
                Immense Potential for Capital Appreciation
                Favorable Demand Supply Ratio in the fastest growing market- Gurgaon
                The Concept of Serviced Apartments - The fastest growing vertical within the High Growth Indian Hospitality Industry
                The applicable price is Rs 13500 per sq ft (minus inaugural discount) in soft launch.

                Comment

                • #9

                  #9

                  Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

                  Just a middle class service guy trying to maximise return on my investible surplus with safe investment as underlying theme.

                  Originally posted by gurgaon79 View Post
                  are you RE Bull in the mask of a Bear ?

                  Comment

                  • #10

                    #10

                    Re : Ireo Serviced Apartments, IREO Group, Sector 59, Gurgaon

                    Any existing references for service apartments in NCR? In terms of occupancy rates and expected rentals for benchmarking purposes ??

                    Comment

                    Have any questions or thoughts about this?
                    Working...
                    X