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 Avatar01
    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


    Avatar01,

    What's attracting you towards Merlin except price?

    "Good" and "broker" doesn't go together.... :)

    Anuj
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  • My preferences..

    Originally Posted by anuj2703
    Avatar01,

    What's attracting you towards Merlin except price?

    "Good" and "broker" doesn't go together.... :)

    Anuj


    Read Rushil's post a few weeks back. I fall into the category he has recommended Merlin for. 1) Have holding capacity 2) not in hurry for possession 3) Less initial outlay 4) I will not say undervalued but would say not overvalued 5) Not too worried about short term returns 6) May end up being good for end use if I decide move back.
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  • Mr. Vralhan. Please let me know what is the PLC and parking your broker is quoting you? I am getting quote of 6500
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  • Some senior member please let me know if Merlin at 6500 is a good price considering parking is 9L and PLC is another 680,Merlin is not a cheap deal.
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  • Merlin under resale is not a cheap deal at 6500 and others charges are high. however one must need to take a long term view of 3-4 years if they have to count on ROI. As the appreciation since launch has already happened one must be patient to reap the further appreciation in 3-4 yrs which would come in different tranches based on the construction status and surrounding environment.
    So take your decision based on your expectation of ROI and holding power
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  • Originally Posted by krishna99
    Merlin under resale is not a cheap deal at 6500 and others charges are high. however one must need to take a long term view of 3-4 years if they have to count on ROI. As the appreciation since launch has already happened one must be patient to reap the further appreciation in 3-4 yrs which would come in different tranches based on the construction status and surrounding environment.
    So take your decision based on your expectation of ROI and holding power

    Thanks Krishna99 Ji, Do you think I can get Merlin below 6500 in resale??If yes do you know any broker? You can PM me.
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  • Sometimes bottom fishing backfires also. I don't see a big difference in 6450 and 6500. Most important thing is the unit itself. If its location is good and dosen't carry any location or layout disadvantage then one should rather be ready to pay a premium for it. If you are investing for 3 years then I am sure after the completion you will get much better price if a location is good.

    Regarding the justification of price in current scenario, well less said is better. Fact is we as buyers do not control anything in the entire value chain of Real estate in India. Right from the formation of masterplan where the alignments of roads and sectors is changed to benefit the politicians ,to the conversion of FSI or CLU status to benefit the builders ,to the launch of projects where under writers, financiers, big brokers, bureaucrats etc take away the creame, nothing is ever left for us to make money.

    So what we are left with is few % pass back that your brokers commits to you (and later backtracks), waiting game for the premium to come (if you were lucky with the choice),construction to progress as per schedule (most unlikely) and being able to liquidate your holding as per your price and at the time you want ( this is when we realize we were living in a fools paradise).

    And we really wonder why the prices of apartments are going up. Aren't we working day and night to support the big appetites of the stake holders in the above mentioned value chain???

    Can we really change the above hoarding game? No. Can we ever hope that one day the stakeholders mentioned above will take a big burp and say "Enough" and my Dil dosent mangey any more?? No.

    Historically only one thing has set the above order right and that is a formation of a bubble and then a big burst. But the worst part is that the burst has never lasted more then the boom and in any growing economy, booms last longer then the bursts.

    So whats in store for us? How do you make a decision right now ??


    To me its all about elimination of the maximum risks that one can right now . One also needs to be cautious of getting overtly cautious in eliminating risk.

    Following are the risk you can try to eliminate :-
    1. Location Risk :- Is the location you have selected going to be developed at the time of completion ? Is it livable for a family to survive? Has HUDA issued tenders for sewage, water and lighting so that by compltion this basic infra is at place? I think with Merlin there is no such risk.

    2. Price Risk :- Am I buying in resale by paying too much premium ? In case if some correction happens then the project which are sitting on very high premium will get a major hit. In Merlin even after 2 years of its launch not much premium has come. Compare it with IVV, I guess the price risk is least in this.

    3.Builder Risk :- If Merlin was constructed by some xyz builder who dosent have a good past to talk about then there was a risk. With L&T quality and timely delivery risk have been eliminated.

    4. Financial Risk :- To know all the negatives about the financial risk with M3M, read this entire thread and you will get every possible point and all are and were valid. I will focus on one positive so that you take your decision on time.
    M3M has big money riding on Golf Estate and Merlin. These are also one of the prime locations that they own besides other land bank. To be able to make the not so prime land (like 107) sell they need to delivery something exceptional. Hence atleast for these two projects, they will even sell family silver to complete it. Else it wont be easy to sell the rest of the inventory.
    From this assumption I see a moderate financial risk in this. In a worst case scenario even if M3M goes bust, no one would be able to discount the location advantage that will come handy at the time of liquidation.

    5. License Risk:- Most of the new launches in gurgaon are stuck with not getting their EC yet. And EC is the probably the last of 50 odd approvals one needs to start construction. Merlin probably has all of these and thats why construction has already started. Just recheck once again from their office on EC. If its there then all the License risks have been taken care off.


    Lastly about PLC and Parking charges. Yes they are high as compared to other projects. If you compare with any other project with similar specs, PLC is higher by 300 -400 Rs and Parking by 2L Rs. This excessive baggage is going to be 10% additional cost of the total project value.

    Is this 10% incremental cost too big a deterrent for taking decision? This you will have to decide.

    To make it little more easier for you just compare the price and location of forthcoming launch of Emmar Gurgaon Green 6500, Adani@ 5500 with basic specs and min 18 lakh additional charges for the lowest size.

    Now look at your finances again, see if you can wait for 3 years and tolerate another 2 years of holding pain, you will suddenly realize this is the only multi beggar that one can lay hands off in today's market.


    RA.

    Originally Posted by anshul82
    Some senior member please let me know if Merlin at 6500 is a good price considering parking is 9L and PLC is another 680,Merlin is not a cheap deal.
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  • PLC for what ?

    I think minimum PLC of 675 and parking of 9 lac IS A BIG DEAL BREAKER..

    I don't see any other project on GCX having such high PLC and PLC for what ? balcony facing open bath of jennifer lopez ? have heard of 100-300 green facing PLCs but 675 f**k sake what for?

    Parking for 9 Lac ? 9 lac to buy a Honda City and another 9 lacs to park it ?

    There are lot many projects on GCX where you can get very nice non PLC units. Lets assume that you want a green facing unit in some other project, which would cost around 300, you still are paying 375 extra for nothing, add to this extra cost of parking - 6 lacs.

    6 lacs extra parking cost for 1844 sq ft unit is approx Rs 325

    So in all 325 + 375 = 700 extra.

    So effective cost of Merlin is 6500 + 700 = Rs 7200 sq ft .

    Does Merlin still look that attractive compared to other projects on GCX ?
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  • very good points as always, SKhan sahab

    This changes the whole equation!!
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  • Originally Posted by shkhan
    I think minimum PLC of 675 and parking of 9 lac IS A BIG DEAL BREAKER..

    I don't see any other project on GCX having such high PLC and PLC for what ? balcony facing open bath of jennifer lopez ? have heard of 100-300 green facing PLCs but 675 f**k sake what for?

    Parking for 9 Lac ? 9 lac to buy a Honda City and another 9 lacs to park it ?

    There are lot many projects on GCX where you can get very nice non PLC units. Lets assume that you want a green facing unit in some other project, which would cost around 300, you still are paying 375 extra for nothing, add to this extra cost of parking - 6 lacs.

    6 lacs extra parking cost for 1844 sq ft unit is approx Rs 325

    So in all 325 + 375 = 700 extra.

    So effective cost of Merlin is 6500 + 700 = Rs 7200 sq ft .

    Does Merlin still look that attractive compared to other projects on GCX ?


    When I say effective cost in above post, I mean cost when compared to PLC units in similar projects on GCX.

    All inclusive cost of Merlin will be 6500 + 675 + 488 (parking) = RS 7663 +EC/IDC + IFMS + misc
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  • Plc and parking are indeed very high but there seems to be some confusion in the rates

    Parking is 9 lacs for set of 2 parkings which is quite similar to IERO's 10 lacs for 2 (side-by-side) or even 8 lakhs for 2 in Adani's Sec 102 project.

    Even the PLC charges are somewhat different. Please see the enclosed price list. (PLC categories are intriguing)

    It is possible that builder is now charging higher plcs but one would get lower ones in resale.

    Skyon price list - Central green plc 1,000/sq.ft

    Basic Sale Price :
    PLC
    Central Greens Rs. 1000/- psf
    Club / Landscape Rs. 300/- psf.
    Corner Rs. 250/- psf
    HEIGHT PLC
    13th - 19th Floor Rs. 400/- psf
    20th - 29th Floor Rs. 600/- psf
    30th & Above Rs. 1000/- psf
    Car parking Charges
    Back to Back Rs. 8 Lac
    Side by Side Rs. 10 Lac
    Additional parking (single) Rs. 5 Lac
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  • Hi Anger, Rushil and other GCX experts. I am considering Merlin and have few questions:
    1) Is it still OK to enter at this point - Horizon is 3 years.
    2) I am getting quote of 6.6 k psft resale and 7.7 k from builder - is this justified?
    3) Builder told me there is no 1845 sqft unit, can someone (St_Anger) confirm if thats the case in resale as well.
    4) Is there any other comparable properties in GCX - Are Tata Primanti or Baani floors compelling options. I would like to restrict to not more than 1.75 Cr tops.

    I am invested in Sohna, Sector 8x and Noida, I guess GCX is a must have in the mix - what do you guys think?

    Experts please reply, it will be of immense help to me.
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  • Has anyone similarly calculated PSF for other options on GCX?

    - Pioneer
    - Presidia
    - VV
    - H1
    - Premier Terrace



    Originally Posted by shkhan
    When I say effective cost in above post, I mean

    cost when compared to PLC units in similar projects on GCX.

    All inclusive cost of Merlin will be 6500 + 675 + 488 (parking) = RS 7663 +EC/IDC + IFMS + misc
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  • One can get 1845 in resale and price definitely is justified. But it's a 3-5 years game.







    QUOTE=raj0112;628313]Hi Anger, Rushil and other GCX experts. I am considering Merlin and have few questions:
    1) Is it still OK to enter at this point - Horizon is 3 years.
    2) I am getting quote of 6.6 k psft resale and 7.7 k from builder - is this justified?
    3) Builder told me there is no 1845 sqft unit, can someone (St_Anger) confirm if thats the case in resale as well.
    4) Is there any other comparable properties in GCX - Are Tata Primanti or Baani floors compelling options. I would like to restrict to not more than 1.75 Cr tops.

    I am invested in Sohna, Sector 8x and Noida, I guess GCX is a must have in the mix - what do you guys think?

    Experts please reply, it will be of immense help to me.
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  • can someone post an alternate link for the layouts or the layouts themselves here. The ones on the company website are poor resolution and non-downlaodable :(

    From what I could make out from the company website, I saw there are 3-4 options in 3 BHK, but the difference seemed to be wrt size of rooms- no SQ or lounges in any. is that correct.
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