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Spire Orion at South Spire World, Sector 68, Gurgaon

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Spire Orion at South Spire World, Sector 68, Gurgaon

Last updated: August 14 2017
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  • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

    Era divine is a much inferior developer to Spire, it looks like a C grade project, even the location is much inside sohan road..

    If it is selling at 3100, spire should be atleast 3500 if not more...

    Members please comment


    Originally posted by jamieB View Post
    Hi Everyone,

    I visited the site yesterday and there is no change except the land around the plot has been cleared of the crop that was there till sometime back. As such one can see the billboard more clearly now. Also, the company has put up some more billboards on the approach road in Badshahpur area.

    Also, had a word with a broker about Era Divine Court - fresh bookings are being launched at 3100 (excluding broker disc etc.) This project is almost adjacent to Spire South.

    Given the RE activity in the area, I think rates should go up very soon.

    Comment


    • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

      Originally posted by amit001 View Post
      Era divine is a much inferior developer to Spire, it looks like a C grade project, even the location is much inside sohan road..

      If it is selling at 3100, spire should be atleast 3500 if not more...

      Members please comment
      I agree .it was initially launched in aug 2009 at same time as spire but failed due to inadequate response.it looks they are re-launching it at 3100

      Comment


      • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

        Another good opportunity if Era opens up booking for the project again. I was tracking that project since last few days but got a feeling from market that the project got shelved due to poor response.

        Ansal Essensia floors in subvention scheme and Era project would be worth evaluating.

        Comment


        • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

          As per tinesha , subvention scheme is only for Ansal Villa's & not floors.

          Originally posted by amit2222 View Post
          Another good opportunity if Era opens up booking for the project again. I was tracking that project since last few days but got a feeling from market that the project got shelved due to poor response.

          Ansal Essensia floors in subvention scheme and Era project would be worth evaluating.
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          Comment


          • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

            Spire is an internationally recognized name even bigger than Ireo, but their startegy has been confusing to say the least..they have nt been tactical in raising prices in sync with the market....

            Companies like tupic have been tectically far shrwed to the benefit of the investors...

            In june both Tulip Purple and spire were priced arnd 2850..now Tulip is prices 3750 and spire at 3050 and the irony is that spire has sold out all units where as tulip has not been able to sell purple project..

            Project which is completely sold off has nt seen prices and project which is struggling to sell has seen a price rise of 1000 by the developer

            Absolutely baffling....




            Originally posted by amit2222 View Post
            Another good opportunity if Era opens up booking for the project again. I was tracking that project since last few days but got a feeling from market that the project got shelved due to poor response.

            Ansal Essensia floors in subvention scheme and Era project would be worth evaluating.

            Comment


            • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

              Originally posted by amit001 View Post
              Spire is an internationally recognized name even bigger than Ireo, but their startegy has been confusing to say the least..they have nt been tactical in raising prices in sync with the market....

              Companies like tupic have been tectically far shrwed to the benefit of the investors...

              In june both Tulip Purple and spire were priced arnd 2850..now Tulip is prices 3750 and spire at 3050 and the irony is that spire has sold out all units where as tulip has not been able to sell purple project..

              Project which is completely sold off has nt seen prices and project which is struggling to sell has seen a price rise of 1000 by the developer

              Absolutely baffling....
              Amit001, I understand your feelings about Spire project. My take on it is that there is still some value proposition left in the project in spite of the fact that it is almost completely sold out initially.
              When I check on the FDI funded projects including Crescent, SARE, SPIRE and SABRE, they don't normally raise prices substantially to keep up with the neighbourhood prices. They increase their prices upon some happenings in the project whether approvals, licences, construction, new schemes etc. The reason could be that they don't require investor's money for the project. The project financing is secured throughout, yet they don't participate much in overheating the market. The froth normally is created by lower Class 'B' and 'C' builders who wants to give good commissions to brokers and keep the resale market alive. CHD and Tulip are classic examples. Tulip launched white, purple, orange, ivory, violet all within last one year in the same location and 2-3 phases.

              Once the project is completed or near completion, market will determine the price based on quality and nearby rates. Spire South is steal at the moment.

              Comment


              • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

                One can expect significant increase in the price of Spire on -

                a) Commencement of construction .

                b) Launch of new Phases .

                Both above events r not too far off.

                Let's be patient .


                Originally posted by amit2222 View Post
                Amit001, I understand your feelings about Spire project. My take on it is that there is still some value proposition left in the project in spite of the fact that it is almost completely sold out initially.
                When I check on the FDI funded projects including Crescent, SARE, SPIRE and SABRE, they don't normally raise prices substantially to keep up with the neighbourhood prices. They increase their prices upon some happenings in the project whether approvals, licences, construction, new schemes etc. The reason could be that they don't require investor's money for the project. The project financing is secured throughout, yet they don't participate much in overheating the market. The froth normally is created by lower Class 'B' and 'C' builders who wants to give good commissions to brokers and keep the resale market alive. CHD and Tulip are classic examples. Tulip launched white, purple, orange, ivory, violet all within last one year in the same location and 2-3 phases.

                Once the project is completed or near completion, market will determine the price based on quality and nearby rates. Spire South is steal at the moment.
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                Comment


                • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

                  There seems to be aftereffects of Godrej on other projects too..

                  Asking rates for Vipul have gone to 2950-3000... which were 2850-2950 couple of days back...

                  And one of my fried who went to meeting for Spire 1290 sqft unit this morning (2950 quoted by owner before and he was expecting to get at 2875-2900 after bargaining)... Owner changed the quote in the meeting to Rs 3050 by giving example of Godrej... and brokers are saying 3000/- is becoming benchmark for 1290 sqft unit.. Market going absurd by Godrej project... If its a success the base prices in market for all sectors would move up by 200-250 Rs. as said by a real estate consultant who is a IIT kharagpur / IIM calcutta passout

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                  • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

                    Great analysis , but i feel that the after effects really won't be permanent. Would die off after the hype of Godrej cools off.

                    Originally posted by gaurav_chugh View Post
                    There seems to be aftereffects of Godrej on other projects too..

                    Asking rates for Vipul have gone to 2950-3000... which were 2850-2950 couple of days back...

                    And one of my fried who went to meeting for Spire 1290 sqft unit this morning (2950 quoted by owner before and he was expecting to get at 2875-2900 after bargaining)... Owner changed the quote in the meeting to Rs 3050 by giving example of Godrej... and brokers are saying 3000/- is becoming benchmark for 1290 sqft unit.. Market going absurd by Godrej project... If its a success the base prices in market for all sectors would move up by 200-250 Rs. as said by a real estate consultant who is a IIT kharagpur / IIM calcutta passout
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                    Comment


                    • Re : Spire Orion at South Spire World, Sector 68, Gurgaon

                      Incidently, I met with 3 brokers from different firms. One of them is having some good rather personal contacts with Spire. This broker sold Spire units very actively during their launch. Came to know from him that Spire rates are going to increase surely in November until January where a rate closer to 3400 can been seen. Fortunately, I met with a Spire investor who is ready to part away with his unit of 1590sq ft at 2850. The offer is really attractive if someone wants to invest in it. This week I have seen two deals happening at 2930 and 2900 prices and asking rate climbing up to 3000psf.

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