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 golu11
    Agreed, L&T or any other sound co does a credit check before entering into any contract, I am sure L&T must have taken a bank guarantee from M3M for the full value of the contract, which makes it a very less risk project for end buyer.

    what M3M has done is not a easy thing to do ..giving all contracts to L&T and Shapoorji, the vision is there and getting implemented. I strongly belive that it will create a very strong brand value with each passing year.


    L&T asks for higher upfront money, but doesn't really get all that money in one go... I know of a project where L&T is using just a fraction(10-20%) of its staff, because builder hasn't paid them the due amount... so even engaging L&T/shapoorji could result in large delays and project taking much more time to complete...
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  • Originally Posted by RamanT
    L&T asks for higher upfront money, but doesn't really get all that money in one go... I know of a project where L&T is using just a fraction of its staff, because builder hasn't paid them the due amount... so even engaging L&T/shapoorji could result in large delays and project taking much more time to complete...

    which is that project?
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  • Originally Posted by shkhan
    This logic doesnt work.sir. just because you were impressed by corporate governance in Satyam during first few years of Its operation doesnt mean that it becamne te role model, we all know what happened.

    What happened to IVV ? It was launched 2 years back and will take another 2 -2.5 yes for possession . LnT to be blamed or Ireo.


    sir on the advice of GB sir gracefully withdrawing. Trying to learn from my guru :) :). aap sahi ho .
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  • Originally Posted by Bikumatre
    sir on the advice of GB sir gracefully withdrawing. Trying to learn from my guru :) :). aap sahi ho .


    So in one sentence 2 "sir"...matlab 2 shikaar ek saath...hence you still hold the title of guru mate :)
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  • Originally Posted by golu11
    Agreed, L&T or any other sound co does a credit check before entering into any contract, I am sure L&T must have taken a bank guarantee from M3M for the full value of the contract, which makes it a very less risk project for end buyer.

    what M3M has done is not a easy thing to do ..giving all contracts to L&T and Shapoorji, the vision is there and getting implemented. I strongly belive that it will create a very strong brand value with each passing year.


    Completely agree with you Goluji.

    The vision was definitely there. Hence they have come up with something as grand as Golf Estate. Merlin isn't a 'me too' kind of a project either.

    But for that vision to take shape there needs to be some sort of stability within the company.

    What I have heard is that there has been a lot of chopping and changing going on within the company in the last few months.

    That in case leaves a lot of doubt in the mind of the investors / end users whether something that is envisioned by one individual(or a team of individuals) can be executed and completed to the same level and with the same degree of precision by another set of individual.

    This problem can haunt other builders as well.

    Let us give them(M3M) some time to regroup and hopefully come back with a bang.:)

    Lets keep our fingers crossed and hope for the best because as somebody earlier mentioned, the success of these 2 project will not only benefit M3M, it will benefit GCX as a whole.
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  • I have closely followed M3M management ; it appears they might have understood the market perception of their group. I know they are investing in their people , one of them was send to Harvard Business School and they are employing best consultants to support them. They have also appointed a new CEO from the industry, however it's the greed of owners which brings them down. I hope with new logo M3M Assurance they will try to improve their actions to bring quality and timely delivery. In case that happens Merlin will definitely provide good returns to investor. I was informed by a broker they have good nearly 80% of inventory in Merlin.
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  • Originally Posted by audioslv
    if emaar has a tarnished image, how is 6000 plus levels possible for them at dew?


    If a factory has excellent ventilation / amenities for the workers, it might not necessarily lead to enhanced production. But if the ventilation/amenities are poor, it can lead to loss of production.

    Similarly, excellent customer service, transparency & timely delivery will not be the primary drivers when you go to buy an apartment. It will always be the actual product.

    However, even if the company is offering an excellent product, poor customer service, lack of transparency & delays in construction will definitely affect its brand image.

    With Emaar, there has never been a question mark over 'what' it has delivered /about to deliver. The question mark has been on 'how & when' it has delivered its projects.
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  • Originally Posted by SunnyG
    If a factory has excellent ventilation / amenities for the workers, it might not necessarily lead to enhanced production. But if the ventilation/amenities are poor, it can lead to loss of production.

    Similarly, excellent customer service, transparency & timely delivery will not be the primary drivers when you go to buy an apartment. It will always be the actual product.

    However, even if the company is offering an excellent product, poor customer service, lack of transparency & delays in construction will definitely affect its brand image.

    With Emaar, there has never been a question mark over 'what' it has delivered /about to deliver. The question mark has been on 'how & when' it has delivered its projects.


    well said brother. will borrow these lines for my future posts :) :) , i enjoyed it.
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  • Originally Posted by Bikumatre
    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.


    Biku'wiki'matre ji,

    Its Sunny this side.:)

    I am actually a fan of any builder who comes up with a novel and innovative concept.

    Doesn't matter if the builder is Ireo, M3M, Homestead or Krishh, an interesting concept is the first thing that appeals to me. I am sure its the same with you as well.

    In one of the post I read that an innovative concept/idea offered by one builder will be easily duplicated by other builders in the future. And then that builder will no longer be able to command the premium that it is commanding today.

    I would rather prefer all the builders replicating the superior services like excellent customer service, complete transparency and on time possession offered by one builder rather than duplicating its innovative concepts. This way everybody stands to benefit.

    Coming to Ireo, I am not a fan of the builder but of the high standards which the builder has set. Tomorrow, if another builder can take it to the next level, I will be a fan of that builder irrespective of whether I own a unit with it or not.

    Biku sir....doesn't matter if you or me are branded as Ireo men. It doesn't change anything at all. Best ko toh best he kahenge na.
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  • Very True. Emaar End product has always been good, but there can be delays.

    Originally Posted by SunnyG


    With Emaar, there has never been a question mark over 'what' it has delivered /about to deliver. The question mark has been on 'how & when' it has delivered its projects.
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  • Originally Posted by SunnyG
    Completely agree with you Goluji.

    The vision was definitely there. Hence they have come up with something as grand as Golf Estate. Merlin isn't a 'me too' kind of a project either.

    But for that vision to take shape there needs to be some sort of stability within the company.

    What I have heard is that there has been a lot of chopping and changing going on within the company in the last few months.

    That in case leaves a lot of doubt in the mind of the investors / end users whether something that is envisioned by one individual(or a team of individuals) can be executed and completed to the same level and with the same degree of precision by another set of individual.

    This problem can haunt other builders as well.

    Let us give them(M3M) some time to regroup and hopefully come back with a bang.:)

    Lets keep our fingers crossed and hope for the best because as somebody earlier mentioned, the success of these 2 project will not only benefit M3M, it will benefit GCX as a whole.


    Couldn't agree with you more Sunny G. I believe these guys have actually regrouped well, and the senior team I met some days back seemed to be a decent lot of talent. I too strongly believe that M3M GE is an iconic development which will not only change the skyline of GCX but of Ggn as well. Amen to that !
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  • Can someone please inform the group about how much payment has gone for this project so far.
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  • Originally Posted by anksagr
    Can someone please inform the group about how much payment has gone for this project so far.


    anyone has info about the payment that has gone so far for this project ?
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  • For 1844 3 BHK , 43 has gone.
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  • Originally Posted by Sadishaun
    I have closely followed M3M management ; it appears they might have understood the market perception of their group. I know they are investing in their people , one of them was send to Harvard Business School and they are employing best consultants to support them. They have also appointed a new CEO from the industry, however it's the greed of owners which brings them down. I hope with new logo M3M Assurance they will try to improve their actions to bring quality and timely delivery. In case that happens Merlin will definitely provide good returns to investor. I was informed by a broker they have good nearly 80% of inventory in Merlin.


    Yes, I came to know that they have E&Y on board. Pretty awesome, and the Harvard news is sensational !!:o
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