Got a call from a broker claiming that Ireo has come up with plots on Sonha Road / Sonha.

Was a bit tied up so couldn't get much details...

Anybody else having some idea about it?
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  • Heard long time back , Ireo was planning to acquire land on Sohna Road.
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  • yes, looks promising with 2031 sohna master plan approved. spoek with a broker, waiting for details
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  • any idea of the plot sizes and the rates.....
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  • ireo sohna plots details

    Dear Sir/ Madam,

    IREO is coming up with a 200+ acre township on Sohna road. The location is 2 km before GD Goenka World School towards Gurgaon. This scheme is only for regular investors who wants to enjoy early bird benefits from company and open for limited number of days / units only.

    The area offered are 360 and 1080 sq yards plots. Rates are 1.10 and 3.30 ( 30k/sq yard) respectively. The allotment will take 18 months for these exclusive customers and then company will launch the project for market at around 45-50 K.

    Current Scenario:
    This development is under master plan 2030 and IREO is coming up with 200+ acre and opposite to this Central Park-III ( Central Park-I is at Golf course road and Central Park-II at Sohna road) is coming at around area of 140+ acres.
    Other Projects:
    RAHEJA Aranya: location after sohna, current rate around 30K plus edc/idc etc.
    Parsvnath plots: location adjacent to GD Goenka World School current rate of 300 sq yards- plot is 40k+.

    Past performance of IREO is already proven as all the projects are running on time and given best ROI to investors.


    Booking Plan:
    Booking Amount: Rs. 10 lacs – 360 sq yards and Rs. 25 lacs for 1080 sq yards plots and balance payment within 90 days from booking.

    Please find attached the following regarding the scheme available in the ‘Sohna Masterplan’:

    a. Draft Sohna Masterplan.jpg
    b. Sohna Masterplan Notification.pdf
    c. Sohna Scheme - Salient Features.pdf
    d. News Articles on Sohna Masterplan.pdf
    e. Draft Investor Agreement.pdf
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  • Gurgaon Extn (Sohna) Scheme - Salient Features
    1 Proposed Project

    Township Development by Ireo in the proposed Sohna Master Plan 2031
    Area to be termed as '
    Gurgaon Extension'

    2 Proposed Location
    In the close proximity of the Main Sohna Highway
    1.5 Kms short of GD Goenka School - on the same side of the highway.
    13 Kms from Vatika City.
    Approach from Main Sohna Highway and 60 Metre wide Sector Road of the proposed Sohna Master Plan

    3 Draft Sohna Master Plan 2031 Total Planned Area 6110 Hectares (15275 Acres)


    Planned Population of Six Lacs
    Area under Residential Development 4277 Acres
    Area under Industrial Development 3055 Acres
    Area under Commercial Development 637.5 Acres
    Area under Park, Open Spaces, Greens 2587.5 Acres
    Area under Water Bodies 1062.5 Acres
    Other Uses - 3655.5 Acres

    Status

    Master Plan has the in Principal Approval of Haryana Government
    Draft Master Plan 2031 has been released
    Final Notifications is expected to happen in the next few months


    4 Premium Location
    a. New Strategically located Growth Vector for Gurgaon city
    b. Easy Accessibility from Sohna Road and Golf Course Extn. Road
    c. Less than 10 mins drive from Vatika City, 15 mins drive from Dlf Golf Course
    d. Proposed Badshahpur Flyover and Connectivity from Sector 67 (Gurgaon) road will improve accessibility

    Area to emerge as 'Gurgaon Extension'
    a. 2600 Acres of area earmarked from Green & Open Zones will help a "Living Friendly" township

    An Excellent Investment Opportunity


    The 60 Metre wide Sector Road in front of Victory Valley will get extended and join the Sector Roads of the Sohna MasterPlan thus providing an alternative approach route.


    Market Out-look Sohna Master
    Plan 2031

    a. Approx 5000 Acres of Prime Residential and Commercial development by prominent developers shall ensure
    that the region emerges as sought after township development
    b. Launch of multiple projects is expected to commence from 2013 - early 2014 onwards
    c. The locational and master planning attributes will ensure that the real-estate prices shall appreciate to the level to comparable locations in Gurgaon such as Sector 82, 83 etc - shortly after launch and commencement of development. Early movers shall get price advantage.

    Investment proposal 1 :

    1. Ireo has represented that it is acquiring land in the proposed Sohna Master Plan Area, as it expects the Master plan to be notified shortly. Upon notification Ireo would apply for grant of License for township development.
    2. The Investor shall deposit Rs 105.5 Lacs with Ireo for the purpose of purchase of land parcels which fall in the proposed Master Plan.
    3. Upon obtaining the License and Layout approval Ireo shall allot a 360 Sq.yds plot to the Investor
    4. Investor shall pay 50% of EDC \ IDC at the time of obtaining of License and balance 50% at the time of allotment. Investor shall also pay Rs 2.5 Lacs at the time of possession of the plot after completion of development.

    5. Ireo expects that subject to all statutory clearances it shall be able to allot the plots within a period of 12-15 months and launch the project within 3 months thereafter. The entire cost and responsibility for Licensing, Layout approval and development of Infrastructure shall be that of Ireo.

    6. Development of the plot shall be as per the terms of the 'Plot Buyers Agreement' to be executed at the time of the allotment. The completion of the development work on the plotted zone is tentatively expected to be between 24 to 30 months from the date of launch.

    7. Ireo expects to launch the sale of plotting in the range of Rs 50,000 Per Sq.yds or more depending on the market scenario at that point of time.

    8. In the event there is a delay in getting clearances on account of which the project launch gets held up the Investor shall have the following options

    a. At End of 20 months - Investor may exercise the option of withdrawing from the scheme and seek a refund of his investment with an interest rate of 10% per annum. In the event Ireo delays the refund beyond 30 days it shall be liable to pay an interest of 15% per annum for any such delayed period. Investor may at his discretion also exercise the option of further continuing with the scheme.

    b. At End of 30 months - Investor may exercise the option of withdrawing from the scheme and seek a refund of his investment with an interest rate of 10.75% per annum. In the event Ireo delays the refund beyond 30 days it shall be liable to pay an interest of 15% per annum for any such delayed period. Investor may at his discretion also exercise the option of further continuing with the scheme.
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  • I have got to know that the company has for the time being delayed the prelaunch by couple of weeks. they are waiting for some clearances before the launch.
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  • Can someone please send me agent details for this project by pm
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  • In my opinion , Ireo plots in Sector 60 is a far better bet and instead of considering Sohna , sectors close to Dwarka / Airport on Dwarka Expressway is also any day better than the former.
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  • BikuMatre ji..V
    Very informative and detailed info..really appreciate ur keenness and efforts for same. Same goes for ur other posts...Thank u for such valuable info...
    akshay
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  • So does it mean that within 90 days, full amount (given as 105.5 Lakh) will have to be paid and then IREO will buy the land and then IREO will get approvals needed and then allotment will be done, all this will take min 18 months before allotment can be done !!
    Is that the usual way of doing plot allotments ?? Is it legal to do like that ?
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  • Thanks for your comment, however i would urge you all to take the information at its face value and use your own judgement to take whatever call on the offer. I have very conservative views about prelaunches, especially for new sectors/ masterplans. I would never recommend it for most of the buyers.

    These kind of projects have lot of uncertainities & risks associated with them and one should seriously do all due diligence before going ahead with them.

    For seasoned investors, it may be another story.
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  • Originally Posted by sh-saxena
    So does it mean that within 90 days, full amount (given as 105.5 Lakh) will have to be paid and then IREO will buy the land and then IREO will get approvals needed and then allotment will be done, all this will take min 18 months before allotment can be done !!
    Is that the usual way of doing plot allotments ?? Is it legal to do like that ?


    They have a very cleverly worded agreement , if of interest to anyone, i can share. The way it has been worded seems to give this a legal cover. However the essence of what you have surmised is correct.
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  • Thanx for clarifying. It really seems to be meant for experienced investors.
    Just checked google maps, the location (near GD Goenka school) is 20 Km ahead of GCX.

    Originally Posted by Bikumatre
    They have a very cleverly worded agreement , if of interest to anyone, i can share. The way it has been worded seems to give this a legal cover. However the essence of what you have surmised is correct.
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  • Originally Posted by horizonkns
    BikuMatre ji..V
    Very informative and detailed info..really appreciate ur keenness and efforts for same. Same goes for ur other posts...Thank u for such valuable info...
    akshay


    Thank you for your kind words, however please do go through my caution on such projects also. have learnt much more from this forum and have tried to contribute a little. that is the reason why IREF is the forum for real estate in India. God bless their creators and the contributors and the selfless moderators.
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  • Originally Posted by sh-saxena
    Thanx for clarifying. It really seems to be meant for experienced investors.
    Just checked google maps, the location (near GD Goenka school) is 20 Km ahead of GCX.


    Yes it is 13 Kms from Vatika City , which is the GCx / Sohna road junction . The rate of 30 K per sq yard is probably people may look at . agreed for investors only.
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