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.
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  • just spoke believe these will be managed by grand hyatt wouldn't this automatically get better room rates?

    Originally Posted by rushilarora
    My POV expressed on another thread but on same question....

    Studio Appt :- Investment Decision


    Even I was contemplating few months back to invest in studio apartment in Gurgaon. But after doing the due diligence I gave up the thought of buying one purely for the investment. Yes If I had extra money, I will definitely buy one for myself but for investment it doesn’t make sense to me. I would like to list down the reasons which made me go against the service apt as an investment. I call them 4C's of Consideration before you act.

    1. Concept:- This is a wonderful concept but more apt for western countries where the culture is more of being independent and people like to do their things on their own. Right from car wash, gardening, ironing of cloths etc. every day to day job is done by individuals themselves. India is absolutely opposite. We are spoilt for having servants for everything. From Guards standing outside your home, to many maids doing the day to day Corus, to Gardner to driver, to servants , to cooks and many more. Hence we demand the same where ever we go. That’s where the concepts of "Service" it taken for granted and we expect the same everywhere.

    Studio appt does not help this cause unless it is backed by excellent Service. Unless we are very sure of the service quality coming with the studio appt, it would be a risky investment.

    2. Cost :- Studio apartment initially developed as a cheaper alternative to guests who wanted a longer stay in a particular location. Paying hotel rent was far expensive hence studio/service apartment came as a cost effective alternative.
    Unfortunately in India the start itself is not promising for investment. With one 500-600 ft apartment costing 60-90 lakh and then the future cost of maintenance which I am sure will be much higher then residential apartment, doesn’t make a strong business case to invest. Cost of holding plus cost of Maintenance negates the expected return. Also resale of such apartment will be very tough . So if one needs money on urgent basis, this will be highly ill liquid investment.

    3. Competition :- NCR is still reeling under the aftermaths of CWG 2010. Without any business logic hundreds of plots were given for new hotels. Some have already started the operation and many are still undergoing construction. In next 2-4 years Gurgaon will have over supply of all kinds of hotels. Current occupancy is not more than 50%. Barring Leela in gurgaon, most of the hotels are going under 50% occupancy rates.

    NCR has a further pipeline of 9900 rooms in next 3 years out of which around 4000 would be the premium rooms. Apart from this 13 hotels are in the final stage of construction in Aero city coming up at IGI Airport. This area will be a complete destination city in itself with Conference areas,mall,shopping etc and the best connectivity in town. Quick entry and quick exit is the USP of this area.

    Apart from this development there are already numerous service apartments available in Gurgaon, with excellent service, homemade food and best of personalized service.
    Just check one of the website and see the quality of appat available for rent.
    Service Apartments Gurgaon - Rent Serviced Apartments in Gurgaon

    4.Consumer :-Imagine with all this and more coming up in Gurgaon ,the kind of price war that will erupt. Consumer would be spoilt for choice and the rates would take a nosedive. All of them are backed by excellent marketing support and networking to fill up the rooms. How would an individual service apartment owner cope up with the competition and ensure he gets his room booked for at least 15 days in a month.

    These were the consideration that led me let go the idea of investing in Studio apartment.

    I would rather spend the same amount in travelling across the world, learn more about other cultures, enjoy life . Though this would not yield any return to me for the capital employed, yet these moments would be priceless which I am sure no investment could Return .

    Happy Investing !!
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  • And also very high maintenance costs !

    (Which you will have to pay irrespective of the occupancy)


    Originally Posted by sbsbpo
    just spoke believe these will be managed by grand hyatt wouldn't this automatically get better room rates?
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  • Got the details. If you go in for managed apartment option - the maintenance cost is paid by the operator. Ofcourse you only get the "Gross Profits" which means Total billing minus the cost of operations
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  • What will be the minimum size of the shop ?
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  • What is the revised rate for the service apartments?

    And, 17000 psf for retail is quite cheap, i mean by Ireo standard. Are you sure its 17000??
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  • What is the min size of shop in Ireo???
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  • I m being offered lower ground shop here at 15800 per sq ft approx and FF at 14800 aprox .I saw layouts are good . Do you think thesewould give good premium in future ?? I am thinking of investing in lower ground . Guys please tell your views as I have to confirm by tomorow morning positively . Any advise feedback would be appreciated , but please give it asap.
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  • I think 15800 is an excellent rate...Keeping the brand image of Ireo in mind...Go for it...You won't regret..!!
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  • what is the ratio of color component in this.
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  • Ireo City Central

    Here are the details....


     Located in the heart of the 750 Acre integrated township ‘Ireo City’.
     At the intersection of two 60 meter wide sector roads.
     Adjoining the prestigious ‘Grand Hyatt’ complex and Ireo City’s central greens.
     Immediate catchment comprising of entire ‘Ireo City’ and numerous other prestigious developers coming up in the vicinity.
     Low density of development sprawling over 4 Acres of landscaped site.
     A huge landscaped central piazza would be a hub for shopper’s activities.
     Shopping experience spread over Upper Ground, Lower Ground and First Floor; connected seamlessly through escalators, elevators and staircases.
     5 meter floor to floor height (16’ 5”) on all levels giving better visibility and volume to the shop.
     Upper Ground floor raised on a 2.5 meter high podium to impart magnificent visibility to the complex from a distance.
     Best in class parking for visitors and shoppers through 700 parking lots in basement and on the surface.
     Complete power back up.
     Provision for AC through copper piping. Space for outdoor units to be provided on terrace at designated spaces.
     Wet points provided in all shops.
     Designed by UK based architect firm ‘Benoy Architects’ and as part of an integrated complex also comprising of premium branded serviced apartment.


    Happy Investing !!!
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  • Do they really have a Cash Component? The price list is showing complete amount. is everything by cheque only??
    Are these shops available directly from company at these prices??
    When is the next company price hike expected? Means till how long can one buy at below price points from company - one month?
    Thanks!

    Originally Posted by rushilarora
    Here are the details....
     Located in the heart of the 750 Acre integrated township ‘Ireo City’.
     At the intersection of two 60 meter wide sector roads.
     Adjoining the prestigious ‘Grand Hyatt’ complex and Ireo City’s central greens.
     Immediate catchment comprising of entire ‘Ireo City’ and numerous other prestigious developers coming up in the vicinity.
     Low density of development sprawling over 4 Acres of landscaped site.
     A huge landscaped central piazza would be a hub for shopper’s activities.
     Shopping experience spread over Upper Ground, Lower Ground and First Floor; connected seamlessly through escalators, elevators and staircases.
     5 meter floor to floor height (16’ 5”) on all levels giving better visibility and volume to the shop.
     Upper Ground floor raised on a 2.5 meter high podium to impart magnificent visibility to the complex from a distance.
     Best in class parking for visitors and shoppers through 700 parking lots in basement and on the surface.
     Complete power back up.
     Provision for AC through copper piping. Space for outdoor units to be provided on terrace at designated spaces.
     Wet points provided in all shops.
     Designed by UK based architect firm ‘Benoy Architects’ and as part of an integrated complex also comprising of premium branded serviced apartment.


    Happy Investing !!!
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  • Originally Posted by FUNLOVING
    Do they really have a Cash Component? The price list is showing complete amount. is everything by cheque only??
    Are these shops available directly from company at these prices??
    When is the next company price hike expected? Means till how long can one buy at below price points from company - one month?
    Thanks!



    My agent mentioned that 45% is cash part.
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  • Thanks, any info on my balance points?

    Originally Posted by ukbuddy1002
    My agent mentioned that 45% is cash part.
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  • any idea what is the response to this retail by ireo ??? also comments regarding location , pricing , concept invited ?

    Also are benoy architects supposed to be a huge thing abroad for retail as told to me by someone ???
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