IREO CITY CENTRAL PRODUCT USP

-LOCATED IN THE HEART OF 700 ACRE INTEGRATED TOWN SHIP "IREO CITY"
-AT A INTERSECTION OF TWO 60 MTR ROAD
-ADJOINING THE PRESTIOUS "GRAND HYATT" COMPLEX
-NUMBER OF PRESTIGIOUS DEVELOPERS IN VICINITY
-5 ACER SITE
-ONLY 169 UNITS
-SHOPPING IN LOWER GROUND , UPPER GROUND AND FIRST FLOOR WHERE 2ND FLOOR IS DEDICATED TO RESTURANT.
-DOUBLE HEIGHTED SHOPS
-60000 SQ FT CAR PARKING
-WET POINTS IN ALL SHOPS
-PROVISION FOR AC THROUGH COPPER PIPINGS.SPACE FOR OUTDOOR UNITS TO BE PROVIDED ON TERRACE AT DESIGNATED SPACES.
-DESIGNED BY UK'S BEST ARC "BENOY ARCHITECTS":bab (59)::bab (59):

-LOWER GROUND - 985 SQ FT TO 7409 SQ FT - INR 15750 PSF
-UPPER GROUND - 830 SQ FT TO 1825 SQ FT - INR 18900 PSF
-FIRST FLOOR - 830 SQ FT TO 3398 SQ FT - INR 14700 PSF

BOOKING AMOUNT 5% OF TOTAL (BSP+PLC)

CAR PARKING 1 - 500000 INR

PLC - AS APPLICABLE
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  • veteran members are requested to pls throw some light on the above projects.
    i have been associated with ireo since last 3 years and i think its a bit over prices but looking at a open market concept price seems reasonable.
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  • as per the brokers more than half of the units are sold out
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  • My broker has told me that almost fully booked and only few are balance.
    He is telling me to hurry up to issue the check to avoid disappointment.

    But I am not looking any good (%Return ) on this rate & ......

    Pls advice
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  • total were 169 units and as per my broker nearly 70 units are sold out that two in lower ground because the PLC is less.i was expecting a rate of 14k but it turned up to be 19k for the best location.In the long run i have seen that in gurgaon open markets are more successful as compare to AC Markets and Malls so i think its good buy.
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  • Originally Posted by ANKITSANDHU
    total were 169 units and as per my broker nearly 70 units are sold out that two in lower ground because the PLC is less.i was expecting a rate of 14k but it turned up to be 19k for the best location.In the long run i have seen that in gurgaon open markets are more successful as compare to AC Markets and Malls so i think its good buy.

    Sorry, I am not getting comfortable feelings in commercial projects.
    Risk of success the market complex, and after all that the rate of return on our investment?????
    Endusers (Customers) will be less for us.
    So Residencial is less risky - at least easy liquidy == which is much important.

    Customers of residential projects are much more than shops. ===These are my POV only.
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  • actually buying a commercial and residential are two different things.
    you r right about the "safe bet" residential concept but when someone is investing in commercial "rental income" is in mind and more over commercial can give better returns as compare to residential however the risk involved is more as this market is a open market the trend is such that investors are pumping lotz of cash into it and this one is definitely gona be worth investing due to quality of IREO and the presence of other residential projects in the vicinity.
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  • Fine sir, But why investor will go for more risky instrument???
    Agree - Rental income is more but the appriciation is less -- More over this all depends on success of area, which is not sure at all == Again Limit number of purchaser (Either at the time of resell or rent).

    Again == Liquidity????????????????????? Millian dollar question.

    We are not hand to mounth people. This investment we are doing for extra income or for fun. Not for mental tension ---Must note this.
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  • Originally Posted by planner
    Fine sir, But why investor will go for more risky instrument???
    Agree - Rental income is more but the appriciation is less -- More over this all depends on success of area, which is not sure at all == Again Limit number of purchaser (Either at the time of resell or rent).

    Again == Liquidity????????????????????? Millian dollar question.

    We are not hand to mounth people. This investment we are doing for extra income or for fun. Not for mental tension ---Must note this.


    at current levels of investment on gc ex , the retail projects have a higher chance of doubling on possession than the residential units .
    Also its a myth that u r saying retail Ground floor gives lesser appreciation than residential .

    Also if there is limited no. of buyers , then there is very limited supply also for good ground floor retail shops in the area in the comparison to the humongous supply of residential .

    And mental tension toh lene waale pe depend karta hai yaar . Each one has its own comfort zones . A person with 1-1.25 cr budget right now can either afford a 2 bhk or 6 600-700 sq ft shop in ireo city . And at these levels retail has way more chances of giving a better roi than a 2 bhk in ireo city .

    Samajh aane waali baat hai yaar , there are some people who are only comfortable in investing in plots , some only in flats , and some only in RTM and some in good Retail .To each his own , but i completely differ with your opinion of totally writing off Ground floor good location/concept retail shops .
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  • Hi,
    Is this correct that the cheque / cash ratio is 60/40%. you mentioned that one needs to pay 5% BSP/PLC. What about the 40% payment. Doesn't one needs to pay entire 40% payment upfront, immediately, say within a month??
    What are the PLC?
    Payment Plan/Schedule?
    Can you explain the location of this retail project in more detail? Where exactly is this located.
    Plus, is there additional entry points from the residencial complex nearby; or it has one single stand alone main entrance to the whole project??
    Thanks!


    Originally Posted by ANKITSANDHU
    IREO CITY CENTRAL PRODUCT USP
    -LOCATED IN THE HEART OF 700 ACRE INTEGRATED TOWN SHIP "IREO CITY"
    -AT A INTERSECTION OF TWO 60 MTR ROAD
    -ADJOINING THE PRESTIOUS "GRAND HYATT" COMPLEX
    -NUMBER OF PRESTIGIOUS DEVELOPERS IN VICINITY
    -5 ACER SITE
    -ONLY 169 UNITS
    -SHOPPING IN LOWER GROUND , UPPER GROUND AND FIRST FLOOR WHERE 2ND FLOOR IS DEDICATED TO RESTURANT.
    -DOUBLE HEIGHTED SHOPS
    -60000 SQ FT CAR PARKING
    -WET POINTS IN ALL SHOPS
    -PROVISION FOR AC THROUGH COPPER PIPINGS.SPACE FOR OUTDOOR UNITS TO BE PROVIDED ON TERRACE AT DESIGNATED SPACES.
    -DESIGNED BY UK'S BEST ARC "BENOY ARCHITECTS":bab (59)::bab (59):

    -LOWER GROUND - 985 SQ FT TO 7409 SQ FT - INR 15750 PSF
    -UPPER GROUND - 830 SQ FT TO 1825 SQ FT - INR 18900 PSF
    -FIRST FLOOR - 830 SQ FT TO 3398 SQ FT - INR 14700 PSF

    BOOKING AMOUNT 5% OF TOTAL (BSP+PLC)

    CAR PARKING 1 - 500000 INR

    PLC - AS APPLICABLE
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  • Dear Bishan,
    Can you suggest your opinion as to which Retail Complex is the best on GCX. Can you list down the available retail projects in an order of preference, with your reasoning as to why one project is better than the other in terms of current price vs future potential? your knowledge would be very helpful for all of us. Thanks.

    Originally Posted by ISHANb
    at current levels of investment on gc ex , the retail projects have a higher chance of doubling on possession than the residential units .
    Also its a myth that u r saying retail Ground floor gives lesser appreciation than residential .

    Also if there is limited no. of buyers , then there is very limited supply also for good ground floor retail shops in the area in the comparison to the humongous supply of residential .

    And mental tension toh lene waale pe depend karta hai yaar . Each one has its own comfort zones . A person with 1-1.25 cr budget right now can either afford a 2 bhk or 6 600-700 sq ft shop in ireo city . And at these levels retail has way more chances of giving a better roi than a 2 bhk in ireo city .

    Samajh aane waali baat hai yaar , there are some people who are only comfortable in investing in plots , some only in flats , and some only in RTM and some in good Retail .To each his own , but i completely differ with your opinion of totally writing off Ground floor good location/concept retail shops .
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  • As per retail thumb rule, one can expect 6-7% max rental returns on retail / commercial investments. Assuming v good returns on this project, say 18900 / sq ft goes up to 25000 / sq ft on construction completion, the property must yield ~ Rs. 120-130 / sq ft / month as rentals.

    This would make this the costliest retail open market complex in Gurgaon. I think even Galleria market, which is estimated to be the costliest retail open market in Gurgaon doesn't have this rate. Given this, does this make a sound investment?
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  • please right informed posts . capital value of galleria gf shops in 1-1.25 Lac per sq ft plus . rentals of gf shops there are in range of 550-700 per sq ft minimum .
    Avg rental of any good open markets gf shops in gurgaon is minimum ang 200-300 per sq ft .

    even nirvana courtyard gf shops are in range of 40-50 k per sq ft .
    this ireo market is an excellent bet for a medium to long term investor as its in heart of ireo city where capital value of apartments would be in range of svg 15-20 k per sq ft in 5 yrs . you can very well figure out what kind of clientelle would this market cater to .

    any good location shops(location of particular shop within complex n location of shopping complex as a whole) by good builders , would be extremely good for investors as percentage returns could/would beat residential returns in the area in next 5 yrs as a whole lot if luxury residential would get delivered n inhabited in that area .
    This ireo prohect is expensive when compared to other retail projects in the area ,but the location(ireo city) , the openness of market, the layout and the developer more than make up for it .
    P.S.- i have not invested in this project.
    also price of upper ground for ireo retail has been revised to 21,900 per sq ft about a week back only .

    P.S
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  • Prakash - Thanks for the information. Two questions:
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  • (sorry, posted the previous post too fast)
    1. If the other retail open market shops are also 40-50k+, then why would you term this project as expensive?
    2. Any views on the appropriate location within the market, that will give higher returns than another? Ireo is offering different plc for different locations, so want to know which one is the best one to choose.
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  • Close to 5-10000 families are expected to live in the Golf course Extension Area ,i,e between sector 58-68 in the near future( may be in another 5 years) out of which Ireo alone may account for the majority of the habitation as it plans to deliver close to 2500 apartments in its 4 projects on GCX in 2-4 years

    Considering this IREO commercial project is strategically very well located and would be a center of attraction 3-4 years down the line.

    It can become the most coveted market of Gurgaon after Galleria
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