What's the current status of the project? I know that excavation has been carried out but any signs of construction or foundation work?

Would appreciate if someone can post a pic. Thanks :)

Latest price

The new rate list is interesting when Merlin price in resale market is around 6500. I went to their site recently and I could see construction activities happening post agreement for construction by L&T. This project looks to be undervalued project as of today when compared to prices of nearby IREO projects. Can I request the views of senior members expert in GCx on investment in this project?

Seems there is no comments coming in for M3M Merlin..

During my search for GCX properties , I find Merlin to be a very good price proposition but I am not sure about the promoters , seem with Shady background , on the other hand M3M has given the construction to L&T ..

apart from this , is there any reason why this project resale prices are very nominal as compared to IVV or Skyon..

would like to see comments from ALL GCX experts please..

M3M has given the construction to L&T --- But has the construction actually started at the merlin site?

I believe the market never really underprices anything without good reason.
When Merlin was launched at 6750 (6100 after discount) in June last year, the adjoining IVV with higher specs was 5800-6000, Presidia with same specs and better location was 6500 and Uptown with lower specs was 5000. After one year, IVV/Presidia have reached 8000+ level, Uptown 7500 and Merlin still languishing at 6500.
In my view, reasons are quite a few -
- When it was launched, it sort of lost to projects like Skyon/VV which had better specs and were in similar new launch stage and priced at lesser or same rate. There was also anticipation of IREO 67A which swayed many investors to it.
- Endusers were probably wary of somewhat unpopular perception of M3M and maybe the inefficient floor plans was a putoff (it was surely a putoff for me).
- I think M3M just failed to connect with buyers esp the endusers - shoddy website, immature sort of sales team, the management came across as unprofessional which made their execution capability come under doubt. It didnt help that they launched a super-ambitious project like Golf Estate as their first project and then didnt wow everyone with timely execution. Instead launching the same product in different names spoke of desperation (e.g Polo suites which has the silliest advertisement video ever, find it on this forum).
- Merlin never started construction (I believe it has now), which should defn not have been a deter for investors atleast but as months passed and there was no news of Merlin starting, investor interest waned as the resale price never jumped which never jumped as people did not flock to it, Catch-22 ??

The positives still remain the same - good specs, and the construction being from L&T and these are very big positives and yes, a price of 6500 for luxury specs is a steal today for GCX.
It just might reap rich dividends if someone takes the plunge.

M3M felt that it could price their projects on the higher side and use the brokers' mafia to fool the gullible public. It failed because the group was not realistic in pricing strategy, given the fact that it has yet to completely deliver a project. Broker hype did n't succeed in this case.

I agree with your sentiments, but after all is said and done I believe that Merlin is still well priced with the specifications it offers. Also I happened to meet a few senior people from M3M, and their projects team as well - I returned home satisfied. I can put my money on the developer.

I don't have anything against the promoters of Merlin. Let them deliver a project first. They would gain a lot from a successful project completion.

I think M3M Merlin & Emaar Palm Drive are two projects on GCX where there is nothing wrong with the actual project. They are suffering because of the question marks on the execution capability of their respective developers. They are suffering because of the somewhat poor(and tarnished in case of Emaar) reputation of their developers.

Both these projects are currently undervalued and have the capability of giving very handsome returns in the future but the risk associated with them is also high.

A year or so ago, IREO didn't enjoy a great reputation either. But they earned every bit of it(still are) through the hard work and dedication of their management and sales team.

There is no reason to believe that Emaar cannot get back to its glory days and M3M cannot reach the same levels as IREO. Just that they would have to work very very hard for it.

Guess both these builder can look towards IREO for inspiration!!

if emaar has a tarnished image, how is 6000 plus levels possible for them at dew?

But I tend to agree your with points on m3m and emaar at gcx

In India builders don't get inspiration from a successful one but rather feel jealous and think of ways to use their political links make a CBI or Income tax raid over the other and then feel happier ke "ab dekhte hain kaise aage badhega"

sunil Ji

very balanced view from my standpoint, but i am a certified ireo fan. Dekh lena sir you will also be branded as an Ireo man. While i don't know what it means, my interpreatation is anyone who says good things about ireo or defends them becomes an ireo man.:) :)

I agree with you , every builder needs to learn from the positive aspects of others and hope the standard of builders in general raise much above the present.

Most important is transparency. Customers do understand that in a complex, multilayered approval process for re in india, delays do happen. as long as people keep customers informed in advance and try their utmost to keep their commitments, things will be fine. even basic things like these is not followed in gurgaon today.

BROKER MAFIA..... I really loved that Word.

The way Brokers in Gurgaon can sell "Brass" (peetal) as "Gold"... (Sona) is an Art we should learn from them.

:)))))