Hi ,

M3M is slated to launch it's high end residential project in Sector 67 , Gurgaon by the name of MERINO around July 15,2011. ( Singapore Style Living ) as they have opted to position these apartments

Minimum Ticket Size : 1800 sq ft

Current Rate : 6750 / sq ft less inaugral discount of 650 for few
editions / limited period.

Effective Current Rate : 6100 / sq ft.

Location : Sector 67 , adjacent to Ireo Victory Valley and
between Landmark Commercial.

M3M has huge land bank in Sector 67.
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  • Originally Posted by St_Anger
    Quixotic jee!!

    Yes, i went ahead with it. Wanted to buy GolfEst, didnt have the means. Would have had to sell a major chunk of what I own in gurgaon to buy it and then its such a lovely thing that I would definitely used it for self use. To dukaan band ho jaati :D


    Lol.... Golf Estate seems to have that effect on people. I am too contemplating to use it myself, but in all probability would sell it after some time.

    So, what floor plan did you finally go with. 3BR + 3T or 3BR + 2T ?
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  • Originally Posted by quixotic
    Lol.... Golf Estate seems to have that effect on people. I am too contemplating to use it myself, but in all probability would sell it after some time.

    So, what floor plan did you finally go with. 3BR + 3T or 3BR + 2T ?


    Sir 3BR+2T 1844 sf ft.
    Its been just a 3 weeks and excavation started. Seems like I brought good luck to merlin investors :D
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  • St_Anger ji, were you able to take a snap of the site?

    :D
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  • Originally Posted by Rahulk1
    St_Anger ji, were you able to take a snap of the site?

    :D


    Rahuljee!!

    Very sorry.. havent visited the site since.. went on a week long road trip with friends.. driving more than 2k kms across north india..have been kinda tired since i returned yesterday... !!!

    will plan something soon!!
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  • Angerjee,

    Many of my ex coollegues (who are in RE I banking/PE deals) have strictly told me that M3M does not have the capability/will to execute these projects.

    They have asked me never to invest a single penny with M3M.

    Could be wrong.
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  • amitjee!!!

    We're all speculating over here.. so you might have a valid point as well but I have a lot of faith in a company like L&T. They have a very strict set of rules. For example, they wont even let their name be associated with a developer till they get paid 30--40% of their total remuneration upfront.
    Now, if M3M has the means to pay them 40% of the money upfront i guess, we are underestimating the company here.

    In my opinion, if anything can go wrong with M3M, it will be their source of funding. I am sure the money they are pouring in the market belongs to some neta or his cronies... and if there is some disclosure on that front, it might severely dent the company's ability to complete projects. Other than that, I feel there is nothing which points towards an impending disaster.

    Baaki you never know.. If there was a CRB capital.. a Home trade.. a satyam.. there may as well be an M3M.. This is something only time can answer :)
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  • Sir jin logo ki baat main kar raha hoon - they know the promoters very well..

    As per them the promoters are shady!!!

    Why will they advice me not to invest?

    They have always spoken very highly of IREO.

    Better to avoid risky players when there are better options available.

    They have absolutely no track record that perhaps is the reason that the resale price of Goif estates has not jumped like other IREO Projects.

    I am just sharing information with all of you
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  • sir hum same same baatein do alag threads pe kyu kar rahe hain... :D
    ek hi jagah likhte raho .. hehehe
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  • Angerjee - You could be very well right in what you are saying.

    I just wanted to share what I heard. It could be right it could be wrong.
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  • amit ji sab developers ki kahani hoti hai ,
    There is a big group of people who say IREO mei pranab mukherjee ka and various netas ka black paisa hai jo mauritius se white hoke aa raha hai FDI ke form mei and when this gets busted IREO ko koi nahi bacha paega . It might also be very true as IREO which is predominantly only doing projects in india , why does it feel the need to have a head office at USA and Mauritius .We all know that what mauritius is famous for in india(money laundering)
    The ownership pattern of IREO also till date is not known .

    M3M ke baare mei bhi bahut kahaniya hongi aisi , but as far as i have heard there is no political backing as such . It is a cash rich , land rich co. , with the biggest of visions , and yes till the time they dont deliver anything , nothing can be said .

    Originally Posted by amit001
    Sir jin logo ki baat main kar raha hoon - they know the promoters very well..

    As per them the promoters are shady!!!

    Why will they advice me not to invest?

    They have always spoken very highly of IREO.

    Better to avoid risky players when there are better options available.

    They have absolutely no track record that perhaps is the reason that the resale price of Goif estates has not jumped like other IREO Projects.

    I am just sharing information with all of you
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  • I agree sir,

    Chintels is again one of the company with shady developers, but the performance of the company so far as been top notch..

    M3M could be a similar story..
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  • Rahul jee!!!

    Snaps of merlin as requested by you

    http://www.indianrealestateforum.com/406695-post81.html
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  • Originally Posted by ISHANb
    amit ji sab developers ki kahani hoti hai ,
    There is a big group of people who say IREO mei pranab mukherjee ka and various netas ka black paisa hai jo mauritius se white hoke aa raha hai FDI ke form mei and when this gets busted IREO ko koi nahi bacha paega . It might also be very true as IREO which is predominantly only doing projects in india , why does it feel the need to have a head office at USA and Mauritius .We all know that what mauritius is famous for in india(money laundering)
    The ownership pattern of IREO also till date is not known .

    M3M ke baare mei bhi bahut kahaniya hongi aisi , but as far as i have heard there is no political backing as such . It is a cash rich , land rich co. , with the biggest of visions , and yes till the time they dont deliver anything , nothing can be said .


    IREO ke saath aam aadmi ka haath nahi.. kamal ka phool hai..
    I have some unconfirmed but somewhat reliable news that the sector 67 A project of ireo is being made on the land which belongs to someone whos a hand-yman and no i am not referring to the son-in-law of india.
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  • ownership pattern of IREO

    Originally Posted by ISHANb
    amit ji sab developers ki kahani hoti hai ,
    There is a big group of people who say IREO mei pranab mukherjee ka and various netas ka black paisa hai jo mauritius se white hoke aa raha hai FDI ke form mei and when this gets busted IREO ko koi nahi bacha paega . It might also be very true as IREO which is predominantly only doing projects in india , why does it feel the need to have a head office at USA and Mauritius .We all know that what mauritius is famous for in india(money laundering)
    The ownership pattern of IREO also till date is not known .

    M3M ke baare mei bhi bahut kahaniya hongi aisi , but as far as i have heard there is no political backing as such . It is a cash rich , land rich co. , with the biggest of visions , and yes till the time they dont deliver anything , nothing can be said .


    Published by IREO in leading newspapers way back on18th november 2010. People interested can download the document in this link, thr document also addresses several insinuations going around in this topic point by point , which after cross verifying seems to be a very convincing one.

    ireoworld.com/download.aspx?pdf=FactsAboutIreo_18Nov10.pdf

    What is Ireo source of funds ? who are its promoters ?

    Ireo in India has been set up and capitalized by IREO funds, which are private equity funds domiciled in Mauritius. So unlike traditional Indian real estate firms, there is no single promoter or group of promoters in IREO. Instead , IREO entire investment capital in India ( of approximately Rs 8000 Cr. ) has been raised from a base of over 400 investors in IREO Funds. The investment decisions of IREO Funds are run by a team of professional fund managers.
    IREO Funds have a base of global blue chip investors that include some of the most respected and world reknowned institutions , such as :
    Global Financial Institutions like JP Morgan Chase,TPG Axon,Citadel Investment Group, Tiger Partners
    University endowment funds of reputed university like Stanford university, university of Minnesota, university of rocherster, university of notre dame
    Sovereign wealth funds like Temasek and
    Leading Global Real estate developers like Reichmann Family ( Canary wharf, London ), Stephen ross of Related Group ( Time warner building , NY )
    The structure of fund raising is typical of Private equity fund models worldwide and has enabled IREO to become Indias largest FDI contributor in Urban Infrastructure Development since 2004.
    Moreover , in the interest of full and complete transparency , IREO has already shared with regulatory authorities a comprehensive list of 100 % equity investors in IREO fund alongwith details of their investments
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  • background info on the investors in IREO funds

    Citadel LLC (formerly known as Citadel Investment Group, LLC) is a global financial institution based in Chicago, Illinois. Founded in 1990 by Kenneth C. Griffin, the firm today deploys capital across multiple asset classes and strategies. Current activities also include equity and options market-making.
    Temasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion (US$157 billion) at end of March 2011, focused primarily in Asia. It is an active shareholder and investor in financial services, telecommunications & media, technology, transportation, industrials, lifesciences, consumer, real estate, energy & resources.

    JPMorgan Chase & Co. (NYSE: JPM) is an American multinational banking corporation of securities, investments and retail. It is the largest bank in the United States by assets and market capitalization. It is a major provider of financial services, with assets of $2 trillion and according to Forbes magazine is the world's largest public company based on a composite ranking. The hedge fund unit of JPMorgan Chase is one of the largest hedge funds in the United States. It was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co

    Stanford’s $16.5 billion endowment (as of Aug. 31, 2011) provides an enduring source of financial support for fulfillment of the university’s mission of teaching, learning and research. About 75 percent of the endowment is designated by donors for a specific purpose. There are nearly 7,000 endowed university funds.
    Each year, a portion of investment return from the endowment is used to support annual operating expenses. The remainder of the return is reinvested in the endowment to maintain its value over time. The Stanford Management Company (SMC) was established in 1991 to manage Stanford’s financial and real estate assets. SMC is a division of the university with oversight by a board of directors appointed by the university board of trustees.

    Stephen M. Ross (born 1940 in Hamtramck, Michigan) is an American real estate developer who lives in New York City. He is the founder, chairman and CEO of The Related Companies, L.P., a global real estate development firm. Related is best known for developing the Time Warner Center, where Ross lives and works. A native of Miami Beach, he is the majority owner of the Miami Dolphins and Sun Life Stadium. The University of Michigan renamed its business school the Ross School of Business in his honor after receiving a $100 million gift from Ross.
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