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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  • I have a feeling that people are unnecessarily beating up and finding faults in M3M for no good reason.

    Some of them are Ireo investors which always compare Ireo with every other builders on earth just to give themselves good feeling about their own investments. No doubt Ireo is doing really well with the project and communication about it. But Merlin looks like of the best investment options provided one has medium term horizon (3-5 years).

    One can clearly see that M3M does not have best PR team and apart from publishing big ads. They haven’t done much on customer communication. This does affects customer sentiments and they need to catch up on that.

    But we need to look at few points I find worth mentioning :

    M3M picked golf course theme as its first project for development which is always difficult to develop due to large scale and complexity. Until people don't see greens and sand dunes it is difficult to believe how things will look come up. Prices of Jaypee in Noida rose only after it developed the golf course. Absence of any tangible signs is one of reason for distrust for M3M

    When Ireo hired L&T it was highly praised and was one of the USPs of the project. When M3M hired L&T we are suspecting that they might not pay to the vendor. Would you expect L&T to work without their due diligence?

    When there is delay in commencing construction of Merlin by a few months we suspect all sort of things, while Ireo Skyon delay of 2 years can be considered due to government apathy on approvals.

    Merlin resale oversupply is seen as something fishy and not as an opportunity. Every project passes through this kind of phase where initial investors who are primarily there for 300-500 initial gains look to exit as project progresses as they do not want to leverage. At this stage long term investors who are willing to finance entire cost of a unit get into the project.

    Similar thing happened with Godrej Frontier last year when after an year of holding people were willing to exit at 4000-4100 as Godrej was constructing very fast and was putting pressure on investor finances. Nothing was wrong with Godrej and we don't get anything below 5200.

    Location of Merlin is similar to Ireo victory valley and better than uptown. Specifications are high end if not luxury better than uptown which is at a 30% premium and inferior location. Ireo is certain one of the best but I see no reason why one should not invest in this project

    PS: I have no investments in either Ireo or M3M
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  • Next payment?

    Can anyone tell me what percentage of payment is gone? And, when is the next payment demand expected to be raised?
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  • I visited the site yesterday to check the progress. There was a good progress on the site and multiple activities, including excavation for few towers, were happening. While I was not allowed to enter into construction area, I manage to meet few individuals within M3M site office. Per them construction has now taken speed and their USP was construction was undertaken by L&T, hence it would be good and timely. I was convinced by the progress and hope it turns to be a good project. Still it's earlier days !

    disclaimer- I hold a unit in this project.
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  • Originally Posted by Sadishaun
    I visited the site yesterday to check the progress. There was a good progress on the site and multiple activities, including excavation for few towers, were happening. While I was not allowed to enter into construction area, I manage to meet few individuals within M3M site office. Per them construction has now taken speed and their USP was construction was undertaken by L&T, hence it would be good and timely. I was convinced by the progress and hope it turns to be a good project. Still it's earlier days !

    disclaimer- I hold a unit in this project.


    Can you please tell me when the next payment is expected to be demanded? 35% payment is gone, right?
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  • one of the most undervalued projects in that area.....end users shld hv a 2nd look here...
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  • Originally Posted by Avatar01
    Can you please tell me when the next payment is expected to be demanded? 35% payment is gone, right?


    I did check the timing of next instalment with M3M officials during my visit. Per them the next installment will be due in next Feb/ March on completion of basement. Yes 35% payment has been made.
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  • Thanks

    Originally Posted by Sadishaun
    I did check the timing of next instalment with M3M officials during my visit. Per them the next installment will be due in next Feb/ March on completion of basement. Yes 35% payment has been made.


    Thanks for the information..

    A
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  • PLC seems to be on the higher side (Rs 475-675 psft) to me...
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  • Really

    Originally Posted by reHash
    PLC seems to be on the higher side (Rs 475-675 psft) to me...


    Is 475 the lower end of PLC? That is pretty high...
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  • Not sure if that is the lowest PLC but these are the definitely two of the data points...
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  • hello St. Anger Ji,
    I have just been offered today a rate of 6450 for M3M merlin at BSP. Is this a rate acceptable? Is this project better than PVSN ? Can you please share what should be the realistic price. Also plc etc. and what type of units should I look at purely from investment. Is this a high risk project? I am a little nervous about this one. Is there any better alternative than this on GCX?
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  • Originally Posted by vralhan
    hello St. Anger Ji,
    I have just been offered today a rate of 6450 for M3M merlin at BSP. Is this a rate acceptable? Is this project better than PVSN ? Can you please share what should be the realistic price. Also plc etc. and what type of units should I look at purely from investment. Is this a high risk project? I am a little nervous about this one. Is there any better alternative than this on GCX?


    st anger bhai to lambi chutti ya lambe kaam par gae hue hain, so I doubt if will be replying to your post.

    If its for end use or if you can forget this for next 3 years after buying and can refrain from tracking prices like you do for stocks, then it will give you much better returns than other projects on GCX. No other project with this specs on GCX and having tag of L&T and with upfront of only 30% is available at this price.

    Having said that, there are some inherent risks with this project, which have been discussed in many posts; go through them especially the ones by St_Anger and Rushil bhai.

    So if your risk appetite is low then stay away from Merlin, but if your risk appetite is med to high, then this is a good investment opportunity.
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  • Rushil Ji,
    Loved your posts on Merlin. I have a offer of 6450 on Merlin today from a broker but want to make sure if this is the right price? Also with a high PLC of 400-500 , is this still worth it considering tehre is a holding capacity? I would ideally like to buy at the 6000-6100 price if possible. What is the best rate. Can yo please PM me any good broker who can get me a better price ? Also, if I compare sector 65, 66 and 67 , which project is best for investment with 3-4 year time line?
    Senior Members please advice as I am a first time investor.
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  • what size?

    Originally Posted by vralhan
    Rushil Ji,
    Loved your posts on Merlin. I have a offer of 6450 on Merlin today from a broker but want to make sure if this is the right price? Also with a high PLC of 400-500 , is this still worth it considering tehre is a holding capacity? I would ideally like to buy at the 6000-6100 price if possible. What is the best rate. Can yo please PM me any good broker who can get me a better price ? Also, if I compare sector 65, 66 and 67 , which project is best for investment with 3-4 year time line?
    Senior Members please advice as I am a first time investor.


    What size and floor you are talking about?

    Thanks
    A
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  • Good broker..

    I am also looking for a unit in Merlin. Both sizes of 1844 or 2035 sqft work. Can anyone suggest a good broker to me too? Having a good broker suggested would be one of the greatest helps I can get from so many experienced people around. Senior members - Shkhan, Manoja, Rushil, Amit001, and many more..

    Pls feel free to PM me with the details.

    Thanks
    A
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