Ireo Skyon is at a resale value of 9000 bsp at present, as vs other projects on GCX road, which are selling at 7000 to 8000. With a budget of 1.5 cr, would a 2 bhk at Skyon be a good investment, or is it an over hyped/ over priced project? Are points of contention, like the builder involved (Pratibha), the project not having even started as yet, Ireo being relatively new in the Indian market, to be considered?
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  • Originally Posted by nitin1975
    Are you saying that although someone is willing to pay 10,400 + 1000 park facing PLC, these flats are not available with IREO? These rates seem to be getting almost equivalent of Park place, when the construction has not even started.


    yes, thats correct, the status is from Ireo, only difference is that Park place , payment is all upfront and in skyon it is in three years..
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  • Nitin,

    If you are looking to buy Skyon, which is a good investment, you are much better off buying it in re-sale where not only the BSP at ~ 9200-9300 is much lower (that is for 4 BHK; for 3 BHK its further 700-800 lower) but also the PLC and Car Park charges are lower..

    I was dealing with IREO over the last few weeks...all this means is that the inventory that IREO wants to release today at 11400 price point (for 4 BHK for 3 BHK the price point is 10400) does not contain any green facing aptmts.. Most builders do periodic drops of aptmpts at higher price points during the constuction lifecycle.. similarly IREO will release further inventory at further stages of the construction at a higher price which they will not be willing to release at the current price point..

    But as the construction starts, the resale prices will also climb up and they generally follow the original booking price trends (with ~ 10 % differential)

    Currently the difference between original bookings and resale ( 11400 vs 9300) is ~ 18-20% because construction has not started and there's uncertaintly around the EC clearance for the project which is pending for over 12 months due to a variety of external reasons...but as soon as IREO procures the EC (which I'm sure they will and is only a matter of time)..you'll see the re-sale and original booking price differential reduce to market standards..
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  • When Project like Spire was delayed, there was a huge hue and cry

    but now when developers like Unitech/IREO do not start construction for close to 2 years, no body says a thing

    Skyon was launched what a good 12-18 months ago and it will still take a min 6 months for construction to start. Similarly many projects of Unitech/DLF have no progress even after 2 years of launch.

    Why this selective criticism?
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  • Amit mate I totally agree...in a number of my posts I have mentioned that the criticism on this forum is selective and a number of posts lack objectivity..and appear biased (even though there may not be any intentional bias I would assume)

    I have attached the link to one of my posts..where I have called Skyon as big a cock up as any other terrible project..

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/11770-tata-primanti-by-tata-housing-in-sector-72-gurgaon/page65?t=14085&page=65

    All projects must be assessed on their individual merit rather than any prejudices based on past performance or past experiences
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  • Originally Posted by amit001
    When Project like Spire was delayed, there was a huge hue and cry

    but now when developers like Unitech/IREO do not start construction for close to 2 years, no body says a thing

    Skyon was launched what a good 12-18 months ago and it will still take a min 6 months for construction to start. Similarly many projects of Unitech/DLF have no progress even after 2 years of launch.

    Why this selective criticism?


    very correct sir,

    i have been criticizing both of them for different reasons.

    ireo for having launched this project without getting the EC , which is morally / ethically incorrect, though a dtcp licence probably permits them to launch a project. But if ec has not issued any certificate since march of 2011 for any builders, this is the only mitigating circumstance for ireo and any other builder in simillar position.

    However there are other builders like unitech for e.g. who despite getting EC certificate & a licence , do not delibrately start construction for more than 2 years . That is much more of a problem . The same is true for DLF for e..g in DNTH the town houses. This till now has not been the case with ireo . Till now all their projects with ec clearance has the construction started immediately after wether it is GA or uptown or IVV in gurgaon and rise & waterfront in punjab. They are the only builder i know who publish all their EC certificates in their website and serve as a good example for unitech / dlfs / emaars of the world , who to the best of my knowledge have never done it.

    spire i have no clue , neither have i commented on them except that they have not got ec for one of their projects which i remeber weekly . other than that no idea about them.

    These are the facts and all the iref should be aware of these facts.

    simillarly there is a big noise about Dwarka Expressway stays and has been highlighted by many, simillarly the SPR stays do not get that much publicity, eventhough it has been plagued with the same delays / issues and without their resolution, there is no way any property in SPR ( between sohna road & nh8 ) can be really be called inhabitable. Thoush i would be first person to agree that Dex has much more problems than only stays as has been highlighted by blessu bhai in many of his posts.

    I would urge all to place facts , as it is only going to help all of us to take right decisions.
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  • Amit ji very rightly pointed out. I have said this about Skyon many times. It is the biggest blunder of IREO. Obviously most active members of this forum are invested in Skyon (IREO) and hence do not want to see any critical comments about them. They are the ones always there to defend IREO at any cost. Buyers of kyon shld be very careful. Dont gamble with ur money. This project is not worth the risk and price.
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  • PS - I have nothing againt IREO/SKYON and I like both the builder and project.

    My point is that delayed construction is common across all projects even with good players like IREO
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  • I would like to know why some people are calling SKYON the biggest blunder, is it due to what, location , layout, price or concept ?

    or it is due to delay of non recipt of EC , I think Ireo has been very transparent about it , all the brokers are telling Ireo has got it but when you speak to their sales team , they give the exact status.. I assume it should come unless some one can throw some light on why it will not come .. is the land title not clean..

    I am quite interested to invest in GCX and currently I find skyon a good investment proposition.. it is true that Ireo is probably charging the premium and price increase despite no construction, but if you don't invest now in GCX what options will be there after 6 months ..specifically on GCX at these prices .. ( not resale as have no colored component)

    I don't see any projects to be launched in GCX less than 12000 /sq ft..

    I assume that the project will pick up steam and the prices once the construction starts .. till that time , I think it is a good project to invest..

    please share your views as i am seriously considering investing in Ireo Skyon
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  • It's a very good project

    Nothing wrong wit it
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  • Originally Posted by amit001
    It's a very good project

    Nothing wrong wit it



    Amit bhai , so why are people calling it biggest dud ..or is it the case of "missing the train"..

    It would be great to know logical view on the project..
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  • Mr. Singh

    I'm a new member so my assessment may be rough on the edges than many veterans here..i'm not invested in Skyon or any IREO project but i can definitely tell you that Skyon was rated very high in my assessment..IREO is a safe and reliable builder and Skyon a good investment..there may be alternatives that may give you better long term returns simply because of a lower entry price but you'll make good money on Skyon (my personal view)

    I had shared my assessment in a separate post and I have attached the link..

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/37042-medium-and-long-term-investment-options-in-gurgaon/page3?t=38797&page=3

    The challenge sometimes I have seen on this forum is that different yardsticks are used to measure the sins of different builders..IREO has goofed up with the project and ideally shouldnt have taken money without approvals, that is a mistake on their part but that doesn't make it a bad investment.....

    Challenge with one project shouldn't be used more broadly to tarnish the image of a builder and equally success in other projects shouldnt be used to cover up the mistakes of a builder in any particular project...assessment must be objective and limited to the project at hand..

    My 2 cents...
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  • Originally Posted by RHSingh
    I would like to know why some people are calling SKYON the biggest blunder, is it due to what, location , layout, price or concept ?

    or it is due to delay of non recipt of EC , I think Ireo has been very transparent about it , all the brokers are telling Ireo has got it but when you speak to their sales team , they give the exact status.. I assume it should come unless some one can throw some light on why it will not come .. is the land title not clean..

    I am quite interested to invest in GCX and currently I find skyon a good investment proposition.. it is true that Ireo is probably charging the premium and price increase despite no construction, but if you don't invest now in GCX what options will be there after 6 months ..specifically on GCX at these prices .. ( not resale as have no colored component)

    I don't see any projects to be launched in GCX less than 12000 /sq ft..

    I assume that the project will pick up steam and the prices once the construction starts .. till that time , I think it is a good project to invest..

    please share your views as i am seriously considering investing in Ireo Skyon


    yes with their launch of ' open living ' campaign, they are going to raise the prices of all their project very soon . saw these adds in times now, indian idol and a full page in times of india.

    they have a very clear cut marketing plan for ireo city and are giving a ' major ' brand push. so yes you are right that there is unlikely to enter into less than 12k in ireo city, but am not sure about GCx , if they do launch 67a , it will be around 7k . but with the uncertainity around this one never knows when to enter.

    people have views on everything, we cant help it. we can react to logic & facts.
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  • ireo is outpricing itself!
    thres nothing left on the table for the investor.
    their pricing and reasons are something i fail to understand. for someone like me,id rather invest in project that is 60% complete and asking for less than skyons price.. which most other projects n gcx are.. i might think of skyon, the day the start construction
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  • Originally Posted by GurgaonBuyer
    Mr. Singh

    I'm a new member so my assessment may be rough on the edges than many veterans here..i'm not invested in Skyon or any IREO project but i can definitely tell you that Skyon was rated very high in my assessment..IREO is a safe and reliable builder and Skyon a good investment..there may be alternatives that may give you better long term returns simply because of a lower entry price but you'll make good money on Skyon (my personal view)

    I had shared my assessment in a separate post and I have attached the link..

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/37042-medium-and-long-term-investment-options-in-gurgaon/page3?t=38797&page=3

    The challenge sometimes I have seen on this forum is that different yardsticks are used to measure the sins of different builders..IREO has goofed up with the project and ideally shouldnt have taken money without approvals, that is a mistake on their part but that doesn't make it a bad investment.....

    Challenge with one project shouldn't be used more broadly to tarnish the image of a builder and equally success in other projects shouldnt be used to cover up the mistakes of a builder in any particular project...assessment must be objective and limited to the project at hand..

    My 2 cents...


    gurgaon buyer ji,

    very well articulated views as usual, one should ideally measure a Project on its merits.

    Hoiwever the fact remains a builder is also judged by his track record. If someone has goofed up his last 7 to 8 projects and a huge number of people have suffered because of which , then it is but natural that there will be a backlash against the builder. Such should be prepared for the same . However if someone has goofed up in 1 of 7, then people might still forgive them and that too if genuine reasons are shared transparently.

    also if someone deliberately doesnot even start any construction despite getting licence / environmental clearance and on top of it take the first 30 % payment in a common account , as against the norm of having it in separate escrow account, it creates a bad name for such a builder. Lot of people are much more informed and understand that such builders divert funds to buy land banks / other projects and that is why they never even start construction of projects.

    No one needs to tarnish such builders, they are themselves responsible by their own acts. Unfortunately due to the misdeeds of such builders , their loyal investors/ end users only suffer miserably .
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  • the price revision has already started. GA officially became 13000.

    and while people might debate skyon as a project worth investing or not it does not take away the fact IREO so far has been better of the builder lot . Though I have myself have pointed out the potential delay in delivery of their projects but to be fair to them even if they deliver 2 quarters late it will still be bette performance than any builder has done so far..

    My opinion is that currently IREO is competing against its own benchmarks.
    so challenge would be to keep upto its own yardstick and not succumb to the prevelent market practices..( i hope skyon will remain a minor blip and initial lack of tranparency in plot allotment a one off example of market compulsion)


    Originally Posted by Bikumatre
    yes with their launch of ' open living ' campaign, they are going to raise the prices of all their project very soon . saw these adds in times now, indian idol and a full page in times of india.

    they have a very clear cut marketing plan for ireo city and are giving a ' major ' brand push. so yes you are right that there is unlikely to enter into less than 12k in ireo city, but am not sure about GCx , if they do launch 67a , it will be around 7k . but with the uncertainity around this one never knows when to enter.

    people have views on everything, we cant help it. we can react to logic & facts.
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