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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  • Thanks Smartbrain.

    Are these resale rates? For limited inventory, is there any premium?

    Ireo keeps telling they will launch in 2 months but somehow it keeps getting postponed since last Aug/Sep. They claim they have some approvals . They do not have construction approval.

    I hope they do not create same confusion as Ireo Corridors project.

    Any insights/feedback regarding current situation is appreciated.
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  • Retail rates

    Smartbrain,

    Looking at these rates, my personal opinion is that Boulevard I & II and Apotel on Sohna Road are much better located and much better priced.

    Please correct me if I am wrong.

    Originally Posted by smartbrain
    retail rates as of today LG 19700, UG 26700, FF 18200 for a limited inventory..
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  • dear 360degree
    these are co.rates for original bookings.
    in corridors there was a petition against HUDA and not IREO and the court granted stay on the land thats why project got delayed.

    about launch nobody except IREO can confirm but what we guess is it will still take more time as they are planning simultaneous development in their major land hold in sec 58,59,60&61
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  • captainyadav

    comparing sohna road with sec 59 wont't be justifiable otherwise also Other operational high street retail complexes in Gurgaon are priced at a much higher level


    Ninex, Sohna Road : 30 - 35000 on GF
    Spaze : 30000 GF
    Galleria : 100,000 - 110,000 GF
    Arcadia : 40 - 45000 GF
    Courtyard II : 22-25000 GF
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  • has construction started

    Looks like construction has started in this project , as could see lot of activities on the site , similar to when skyon construction had started .
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  • Is that possible?!I mean without a formal launch can they start construction?Im an investor in the managed serv appt and Im still waiting for the formal launch to make the price discovery....
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  • Ascott signs deal for Ireo City Gurgaon property

    Ascott signs deal for Ireo City Gurgaon property | News | Breaking Travel News

    Ascott has secured a contract to manage its first Ascott-branded serviced residence in India.

    Slated to open by 2016, the 160-unit Ascott Ireo City Gurgaon is also Ascott’s first serviced residence in Gurgaon.

    The management contract was awarded by Ireo Private, the flagship Special Purpose Vehicle of the IREO Funds, India’s first and largest private equity fund dedicated to the Indian real estate sector.

    Ascott chief executive Lee Chee Koon said: “Ascott has recently expanded into Nanjing and Wuxi in China, and Riyadh and Jeddah in Saudi Arabia. Ascott Ireo City Gurgaon has added yet another city to our global footprint of over 70 cities across more than 20 countries.

    “We remain confident in India’s long-term economic fundamentals and continue to see potential for serviced residences in the emerging country.

    “With the addition of Ascott Ireo City Gurgaon, we now have nine properties with more than 1,900 apartment units in India.

    “Our premier Ascott-branded properties provide guests with discreet and unmatched personalised services in an exclusive environment. When Ascott Ireo City Gurgaon opens in 2016, expatriates and travellers to India will be able to choose from all three of our award-winning brands of serviced residences – Ascott, Citadines and Somerset.”

    Strategically located in the heart of Ireo City, Ascott Ireo City Gurgaon is right next to the planned two-storey Ireo City Central retail zone and entertainment hub on Golf Course Extension Road.

    The serviced residence is also near a golf park and is well connected to the airport and commercial districts of Gurgaon as well as Delhi through major roads and highways.

    Residents can choose from a range of spacious studio, one- and two-bedroom apartments and enjoy facilities such as a swimming pool, fully-equipped gymnasium and an in-house restaurant
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  • IREO Announces Tie-up With Singapore-based The Ascott Limited

    IREO Announces Tie-up With Singapore-based The Ascott Limited

    IREO Announces Tie-up With Singapore-based The Ascott Limited - Moneylife

    GURGAON, India, June 26, 2013 /PRNewswire/ --

    Ireo to Launch Ascott Ireo City Gurgaon Along With the Largest International Serviced Residence Owner-Operator The Ascott Limited

    Ireo, India's first and largest private equity fund dedicated to the Indian real estate sector, today entered into management agreements with the multi-award winning serviced residence provider, The Ascott Limited, for India's first Ascott-branded serviced residence at the upcoming master planned Ireo City complex on Golf Course Extension Road in Gurgaon. A team from The Ascott Limited led by Mr. Alfred ONG, Managing Director, Strategic Development, was in town to officially announce the collaboration. IREO City, itself, is an ambitious, world class mixed-use project spread over approximately 800-acres - a resort city within a city - that includes schools, hospitals, parks, offices, shopping malls, art centers and theatres.
    (Photo: Login)


    Located adjacent to the planned two-storey Ireo City Central retail zone and entertainment hub, Ascott Ireo City Gurgaon will offer approximately 220 units in the configurations of studio, 1 BHK and 2 BHK apartments http://www.ireoworld.com ]. This will include 160 serviced residence http://www.ireoworld.com ] units and an additional 60 units of private residential apartments. The luxury of these apartments is further accentuated by their close proximity to the 50-acre golf park in Ireo City. Being in the heart of Ireo City, Ascott Ireo City Gurgaon will seamlessly connect with the Open Living ecosystem of this master planned township. With easy access to NH8, the residences are well connected to the airport and the commercial districts of Gurgaon as well as Delhi.

    Ascott Ireo City Gurgaon http://www.ireoworld.com ] will primarily cater to the burgeoning demand for serviced residences from travelling business executives and corporate houses. It will be built around a distinctive concept of offering the owner the choice to either use the fully serviced apartment as residence for self or rent it out commercially through The Ascott Limited. The premium hospitality brand shall maintain the units to world-class standards and market them for optimal revenue generation. Residents will enjoy world-class facilities for business and recreation along with the award-winning service excellence that The Ascott Limited is renowned for.

    Mr. Lalit Goyal, Vice Chairman and Managing Director at Ireo said, "Our alliance with The Ascott Limited is in keeping with our vision to bring world class living standards to India. The Ascott Ireo City Gurgaon brings together the design excellence of Ireo and the impeccable service of the internationally renowned Ascott brand."

    Speaking on the project, Mr. Pankaj Dugar, Hospitality Head at Ireo commented, "Gurgaon has emerged as a fast growing commercial hub on the international map, attracting business travellers and expats from across the globe but lacks good international quality branded serviced apartments. Ascott Ireo City Gurgaon will replicate the superior comfort and finesse that is synonymous with luxury serviced apartments the world over. With the choice for self use or renting out through the world renowned Ascott brand, these apartments offer a unique opportunity to the Buyers."

    Mr. Lee Chee Koon, The Ascott Limited's Chief Executive Officer, said: "With the launch of Ascott Ireo City Gurgaon, we now have a total of eight properties in India with six under development in India; the two operational properties being Citadines Richmond Bangalore and Somerset Greenways Chennai. Now, travellers to India will be able to choose from our three award-winning brands of serviced residences - Ascott Residences, Citadines Apart'hotels and Somerset Serviced Residences. Globally, our network has grown to 79 cities across 22 countries."

    Mr. Alfred ONG, Managing Director, Strategic Development, The Ascott Limited said, "Gurgaon is one of India's fast developing cities and the hub of real estate companies in the country. We're delighted to bring our premium brand into Gurgaon and happy to partner with Ireo to offer Ascott's impeccable service to business travellers in Gurgaon."

    The Ascott Limited is the world's largest international serviced residence owner-operator with more than 32,000 apartment units in over 70 cities across more than 20 countries. The Singapore-based company has properties in premium locations across the world's leading metropolitan cities like London, Paris, Brussels, Berlin, Barcelona, Singapore, Seoul, Tokyo, Shanghai, Dubai and Melbourne.

    About The Ascott Limited

    The Ascott Limited is a Singapore company that has grown to be the world's largest international serviced residence owner-operator. It has more than 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 9,000 units which are under development, making a total of more than 32,000 units in over 200 properties.

    The company operates three award-winning brands - Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across more than 20 countries, 18 of which are new cities in Ascott's portfolio where its serviced residences are being developed. Ascott's properties can be found in cities including London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Hanoi, Kuala Lumpur, Tokyo, Seoul, Shanghai, Beijing and Hong Kong in Asia; Melbourne and Perth in Australia, Bangalore and Chennai in India as well as Dubai, Doha and Manama in the Gulf region.

    Ascott, a wholly-owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 29-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

    Ascott's achievements have been recognised internationally. Recent awards include DestinAsian Readers' Choice Awards 2013 for 'Best Serviced Apartment/Residence Operator', TTG China Travel Awards 2013 for 'Best Serviced Residence Operator in China',TTG Travel Awards 2012 for 'Best Serviced Residence Operator', Business Traveller Asia-Pacific Awards 2012 for 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', and Business Traveller UK Awards 2012 for 'Best Serviced Apartment Company'.

    Visit www.the-ascott.com http://www.the-ascott.com ] for more information and connect with us on social media at www.the-ascott.com/connect Connect with Ascott ].

    About CapitaLand Limited

    CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the company's businesses in real estate and real estate fund management are focused on its core markets of Singapore and China.
    The company's diversified real estate portfolio primarily includes homes, offices, shopping malls, serviced residences and mixed developments. The company also has one of the largest real estate fund management businesses with assets located in Asia. CapitaLand leverages its significant asset base, real estate domain knowledge, product design and development capabilities, active capital management strategies and extensive market network to develop real estate products and services in its markets.

    The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, Ascott Residence Trust, CapitaCommercial Trust, CapitaMall Trust, CapitaMalls Malaysia Trust, CapitaRetail China Trust and Quill Capita Trust.
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  • we have recd the bba for signing simultaneously
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  • Understand that Ireo will do a formal signing of the Agreement on 7th July with Ascott
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  • City Central

    Hi Rushil
    Your feedback has been valuable on GCX projects.
    City Central has moved at very slow pace so far, has it lived upto its expectations?
    What is current premium on ground floor and first floow units?
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  • hmmm... I am confused now :(

    I just finished talking to the Ireo and they quoted me around 27000 for hyatt apartments. Is that really the price now or are they telling inflated prices?

    Also the ascott apartments are different from these, yeah? Any idea on their pricing?
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  • Originally Posted by varun85
    hmmm... I am confused now :(

    I just finished talking to the Ireo and they quoted me around 27000 for hyatt apartments. Is that really the price now or are they telling inflated prices?

    Also the ascott apartments are different from these, yeah? Any idea on their pricing?


    You are right both are different projects on either side of the proposed Golf Park ( as they call it ).
    But both have excellent branding Grand Hyatt needs no introduction and Ascott is one of the market leaders in this space.

    Good for the development of Ireo city overall.
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  • Latest Resale prices in Ireo Central

    Am looking at entering Ireo Retail. Any idea what are the resale prices for LG and UG shops.

    How is it Vs. other retail in the vicinity. Long term what is the aprreciation estimates
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  • There are not many in the market willing to sell, so resale rate is not established.

    In my view this is the best investment option in retail in Gurgaon, should give handsome returns. Over the long term, seeing the location, layout, catchment and brand name; the potential upside left is huge.
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