Dear members,

I want to know if anyone of you have some update on Spire South project if they have got the required licence and approval or not.

Also please advise if I should continue with this project or not.

Thanks

Millennium Spire Ltd presents its new residential project Spire South in Sector-68, Gurgaon. Presenting a unique and new concept in housing, Millennium Spire South offers apartments customized to your lifestyle and desires, means it is you decide everything about the interiors from the colour and type of the tile to the type of paint on wall and ceiling and the fixtures in the kitchen and bathrooms. Millennium Spire South offers 2 and 3 bedroom apartments with areas ranging from 900 Sq ft to 1500 Sq ft.
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  • Originally Posted by SRK Family
    From Very reliable sources of Spire World I got to Know Spire is coming up with new inventories in both the projects i.e. Spire Woods Sector 103 and Spire South 68 For Spire Woods Rate would be Rs.5500 per sq ft and for Spire South Rate will be Rs.7000 per sq ft. The advertisement for both the project will be coming shortly in a week or 2 week time.!!!!

    This will definately reboost the resale of both the projects in coming time!!!


    Friend, let us be reasonable. 7000/sq ft price is going to be a flop show in this sluggish market. Investor will not put that much money in uncertain market conditions and end user will probably buy in resale which is almost half of this price.
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  • Originally Posted by SRK Family
    From Very reliable sources of Spire World I got to Know Spire is coming up with new inventories in both the projects i.e. Spire Woods Sector 103 and Spire South 68 For Spire Woods Rate would be Rs.5500 per sq ft and for Spire South Rate will be Rs.7000 per sq ft. The advertisement for both the project will be coming shortly in a week or 2 week time.!!!!

    This will definately reboost the resale of both the projects in coming time!!!



    7000 looks crazy ( especially, looking at the current market ), but u never know, most Builders r crazy & we do have crazier People who invest at these or similar rates .
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  • It might benifit the secondary market (though i have many doubts for that as well), but with current market trend it would definitely ruin primary market. Which builder should never be willing to do.

    Originally Posted by MANOJa
    7000 looks crazy ( especially, looking at the current market ), but u never know, most Builders r crazy & we do have crazier People who invest at these or similar rates .
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  • Guruji IREO has launched at Sect 67A for rs.8750 per sq ft now the rate is Rs.9400 per sq ft Park View Spa Next few Units are available at Rs.8250 per sq ft Tulip Voilet and White resale are Rs.5500 to Rs.6000 per sq ft Paras Irene resale at Rs.5500 to Rs.6000 per sq ft so why not Spire South Company has 2 towers for sale. For Rs.7000 per sq ft on Sohna Road its a justified price with the pace of construction the spire is showing resale will be Rs.5000 to Rs.5500 per sq by end of this year.

    I know market is slow but buyer are there for the right price and right property since Spire is already underpriced for Rs. 700 to Rs.1200 per sq ft so buyer will definitely come once Spire is rebranding the own project.
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  • SRK, the sluggishness has just started. Just wait and watch for a few more months and let us see how many resale transactions happen at those rates you have specified. :) :)
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  • Wish whatever you are saying comes out to be true. It would be too good for all investors of the project.

    But comparing Bestech with Spire is not any good of a comparison. One is promising and delievering on good pace while other has yet to show a concerete plan of execution. Even Tulip are doing an exceptional job to meet their commitments which enjoy better location as well as better execution plan of builder and selling at 5500 odds so a difference of 1000Rs is deffinitely justified until their is some exception construction from Spire or sector roads development.

    No doubt Spire South is a good property today and undervalued as well, but their are certain reasons to be undervalued. Without rescuing these reasons increasing Primary market rates would not solve everything.

    Just my POV

    Originally Posted by SRK Family
    Guruji IREO has launched at Sect 67A for rs.8750 per sq ft now the rate is Rs.9400 per sq ft Park View Spa Next few Units are available at Rs.8250 per sq ft Tulip Voilet and White resale are Rs.5500 to Rs.6000 per sq ft Paras Irene resale at Rs.5500 to Rs.6000 per sq ft so why not Spire South Company has 2 towers for sale. For Rs.7000 per sq ft on Sohna Road its a justified price with the pace of construction the spire is showing resale will be Rs.5000 to Rs.5500 per sq by end of this year.

    I know market is slow but buyer are there for the right price and right property since Spire is already underpriced for Rs. 700 to Rs.1200 per sq ft so buyer will definitely come once Spire is rebranding the own project.
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  • Originally Posted by SRK Family
    Guruji IREO has launched at Sect 67A for rs.8750 per sq ft now the rate is Rs.9400 per sq ft Park View Spa Next few Units are available at Rs.8250 per sq ft Tulip Voilet and White resale are Rs.5500 to Rs.6000 per sq ft Paras Irene resale at Rs.5500 to Rs.6000 per sq ft so why not Spire South Company has 2 towers for sale. For Rs.7000 per sq ft on Sohna Road its a justified price with the pace of construction the spire is showing resale will be Rs.5000 to Rs.5500 per sq by end of this year.

    I know market is slow but buyer are there for the right price and right property since Spire is already underpriced for Rs. 700 to Rs.1200 per sq ft so buyer will definitely come once Spire is rebranding the own project.



    I hope that what u r saying is true, but u r comparing Passion Fruit with Bananas . After all Ireo is in a different league than Spire . Re branding doesn't wash away the old sins so easily, especially for People who remain in touch with RE .


    Also, market is slow & this is just the beginning & it could go much worse than the present "slow".


    ........lets hope for the best .
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  • Not an active member of this thread, but reading the posts is always educational. Thanks all.
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  • Oh I missed that you compared IREO as well with Spire, not any good of a comparison dear.

    Originally Posted by SRK Family
    Guruji IREO has launched at Sect 67A for rs.8750 per sq ft now the rate is Rs.9400 per sq ft Park View Spa Next few Units are available at Rs.8250 per sq ft Tulip Voilet and White resale are Rs.5500 to Rs.6000 per sq ft Paras Irene resale at Rs.5500 to Rs.6000 per sq ft so why not Spire South Company has 2 towers for sale. For Rs.7000 per sq ft on Sohna Road its a justified price with the pace of construction the spire is showing resale will be Rs.5000 to Rs.5500 per sq by end of this year.

    I know market is slow but buyer are there for the right price and right property since Spire is already underpriced for Rs. 700 to Rs.1200 per sq ft so buyer will definitely come once Spire is rebranding the own project.
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  • I have a 2xxx unit and I got many calls last month for 4100. I may add that my unit is 1st fl (so little premium rate) was quoted, still it is tough to believe that deals will happen 3700/ levels.
    Regards,
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  • Originally Posted by himrathore
    Wish whatever you are saying comes out to be true. It would be too good for all investors of the project.

    But comparing Bestech with Spire is not any good of a comparison. One is promising and delievering on good pace while other has yet to show a concerete plan of execution. Even Tulip are doing an exceptional job to meet their commitments which enjoy better location as well as better execution plan of builder and selling at 5500 odds so a difference of 1000Rs is deffinitely justified until their is some exception construction from Spire or sector roads development.

    No doubt Spire South is a good property today and undervalued as well, but their are certain reasons to be undervalued. Without rescuing these reasons increasing Primary market rates would not solve everything.

    Just my POV

    Why I am doing the comparison with Bestech and IREO beause of launch prices of the projects I have booked the apartment in Spire South on May 2010 that time 2 other projects has also come i.e. CHD Avenue Sector 71 launched price Rs.2650 per sq ft and Bestech Park View Spa Next Sector 67 launched price Rs.2950 per sq ft and after 4 5 month IREO Uptown come up with Rs.3800 per sq ft so all the above project executed, branded well now resale for CHD Sector 71 are Rs.6500 to Rs.7000 per sq ft Bestech one Rs.7000 to Rs.7500 per sq ft and Same with IREO Uptown

    Now comes to Spire South 68 they have not executed well the project No remeberence of this project by brand name delay in approvals and all so resale has not picked up but believe me once they reach to the level of construction for minimum 5th 6th floor resale will reach Rs.5000 to Rs.5500 per sq ft. and that will be end of this year.
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  • Originally Posted by rs2507
    I have a 2xxx unit and I got many calls last month for 4100. I may add that my unit is 1st fl so little rate was quoted, still it is tough to believe that deals will happen 3700/ levels.
    Regards,




    U may be right . In fact the person whom i sold my Spire, 68 unit called me up about 4-5 days back to tell me that he is getting offers of about 4100/4150 for his 18XX unit . He was seeking my advice on whether to hold or sell off & i told him to hold this for at least one more year & reap the benefits .


    .........the issue is that i am getting conflicting quotes from the Brokers & there is no harm in assuming a lower resale value . The actual value will hold & will not fall or rise, on the prices quoted here .


    The fact is that this Project looks to out of its troubles & is fast gaining momentum & i can expect a resale value of something close to 5000 in about an years time . For somebody, looking to hold it till possession, sky may be the limit .
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  • I donot doubt the potential of this project, and even I am sure prices would reach the levels you quoted today or tomorrow.

    But I donot find much sense in comparison because except the launch time Spire was not able to match any of the project listed in either of the parameters, whether it is timely construction or quality (its too early to comment on quality, so no comparrison makes sense on this parameter).

    Originally Posted by SRK Family
    Why I am doing the comparison with Bestech and IREO beause of launch prices of the projects I have booked the apartment in Spire South on May 2010 that time 2 other projects has also come i.e. CHD Avenue Sector 71 launched price Rs.2650 per sq ft and Bestech Park View Spa Next Sector 67 launched price Rs.2950 per sq ft and after 4 5 month IREO Uptown come up with Rs.3800 per sq ft so all the above project executed, branded well now resale for CHD Sector 71 are Rs.6500 to Rs.7000 per sq ft Bestech one Rs.7000 to Rs.7500 per sq ft and Same with IREO Uptown

    Now comes to Spire South 68 they have not executed well the project No remeberence of this project by brand name delay in approvals and all so resale has not picked up but believe me once they reach to the level of construction for minimum 5th 6th floor resale will reach Rs.5000 to Rs.5500 per sq ft. and that will be end of this year.
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  • @SRK Family: Whats the source of this 7k news? Is it reliable? I have also heard that new units are being launched but 5.5 to 6K
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  • Originally Posted by rvm123
    @SRK Family: Whats the source of this 7k news? Is it reliable? I have also heard that new units are being launched but 5.5 to 6K

    This looks reasonable though, it is a different matter altogether...that reasonable is not the name of the game these days.
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