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 amit.bhalla
    It came in Orig booking sometime in 07/11 only , and after roughly 9-10 months , You bought this unit ZERO PREMIUM , When Victory Valley resale jumped from 5800 to 6500 psf in the same time or even more .

    No it was probably more. I bought merlin roughly 10 months after i bought IVV at 5900.. Rest of the facts, as i remember them, appear to be true.

    Right Now we are not talking as to the growth after you bought it , We are talking about the builder and the project from the beginning....

    Point taken!! and Fair enough...

    10 months from the date of SALE there was zero Premium , Construction for the same started approx 15 months after the sale of the First UNIT

    Yes very true!!! Thats why when this project first launched I ignored it completely, but later on it became a value preposition. Myself and amit001 had a long argument over his unitech SP about a year or so back which he eventually sold.. But now, I am urging him and others to buy unitech SP coz it has become value preposition. So what you say is right that the project was a huge laggard when it was first launched but at one point in time, with zero premium it became a value buy,which I still think it is.

    Lets Take a Run of the mill project on SPR Say CHD or on NPR say Lumbini Terrace homes....

    If one had purchased a regular unit the time of purchasing the same unit in merlin pre launch.
    CHD RESALE in 07/11 - roughly 3600 psf (approx) today - 5000
    Lumbini Terrace homes 07/11 - 3500 psf (approx) today 5100
    M3M Merlin 07/11 - 6150 psf Today 7100 psf


    So a Run of the mill project from not so much hyped builders against the mighty M3M performed better????????? How did this happen.....???


    a very simple answer to this is that they started the construction at the right time...

    Sir, iska counter argumentative example IREO skyon hai... Much more delayed project than merlin. This also didnt have any premium for the first one year( or almost one year) that it was launched ( i am very very sure of this!!!) ...
    The construction wasnt started on time. It is a much older project than merlin.. It also comes from a developer which hasnt delivered even one project .. and from a developer of whom, i have been accused of being a broker of, by certain leading luminaries of IREF....Then why not similar comments for Skyon???? kyuki Its a royal sin to point a finger at IREO?? :D:D
    And, everybody knows what the present prices ( and hype) of skyon is...


    Cant confirm ( or cant even deny) ur figures on Lumbini or CHD but in terms of location neither lumbini or CHD compare to that of merlin and this is what excites me. Fortunately, the world hasnt seen a downside since these projects were launched, kyuki had bad times come, the projects on DEW, especially, would have lost a lot of what they have gained. Also, I have never claimed to be "the warren buffet" of gurgaon. I think my being openly sharing of login prices and present prices have given you the impression that I am boasting.. but thats probably coz u havent, in all likelyhood, read the sad stories that I often share of where(and how) i went wrong.


    For example,

    http://www.indianrealestateforum.com/375770-post21.html

    Lets Look at M3M's performance till date on their existing projects...

    I am not a spokesperson for M3M and i am not here to defend the group, but to tell you that why do I think merlin was/is a value buy and if you remember correctly, our intial discussion was about how and why the progress in merlin is not satisfactory.

    GOLF ESTATE - A Super Lux 75 acre project boasting of a 9 hole reversible Golf course , How many towers would be there If you can gimme an idea ???

    Minimum 25 towers Atleast isnt it...

    They launched the project approx 2 years back and How many of them do you see above ground today ?????

    At the same given speed Do you think that they will be able to complete the entire project before 8-9 years (Possession).....

    Although I am not defending GEst, but yes, it is one of the most ambitious and huge projects in gurgaon and it would take long to complete. Also, after talking to you about lighting of projects I went to GCx in the night. Trust me Sir, GEst is the most well lit project in that stretch. Thats not a big achievment, as far as I am concerned but considering what you said, there must be something good happening there.



    MILANO - initiating the booking process and then due to lack of Sales , They simply scrapped the entire thing altogether.....WOW

    Speaks volumes about the company isnt it ??

    Depends sir, I see it as the glass half full than half empty. It was better for them to have scrapped this project.
    they could have done the following things as well

    1) Keep it selling and not construct it .. examples, Clarion legend, aaronville, mahendra meadows, today canary, ABW floors .. i can give you a hundred such examples...

    2) they could scrap the project at a much later stage.. as emaar did in sec 77.. or baani did... one more in sec 62 or sumwhere..

    They didnt stoop down to such low levels. They dont feel like angels as well but they arent as big villains as they are being potrayed to be...

    SUPER HYPED LAUNCH ON EWAY

    107 - Shit location , No approvals , Most NON transparent Pricing , Area increased after receiving the bookings , NO Complete APPROVALS TILL DATE , Almost ZERO Appreciation till date.....

    You can read my comments on 107 project I have told people from the start
    to avoid this project. But let me tell you one more thing which I said in the start. I am still telling people to avoid it, but one more spike in the market with little or not appreciation in this one ( if at all that happens) and this will become a value buy. If you see me saying that 6 months hence, dont call me hypocrite :)


    M3M till date hasnt delivered anything , Till the day he delivers something , He will be a Land Consolidator only....

    Sir deliver to na Ireo ne kiya hai.. na chintel ne.. na experion ne.. Lack of a reputation is much better than having a bad reputation.

    I rest my case

    Please let me know if any of my info provided above is not correct

    Well understod your case, Sir. This time it was followed by logic.. Isiliye I told you lets talk rationally. i am glad now we are. One more comment on a parting note, please give it due thought. I am not a spokesperson for either M3M, Ireo, or any other builder. If you feel that I say one project is good, I consider that particular developer as heaven's angel. Its not like that, sir. Its an imperfect world and we have to choose someone who one feels is better as compared to others. It doesnt mean that the one you choose is perfect. No one is and No one will be and I am certainly someone who speaks his mind is not at all partisan. I will defend where I feel there is a need to defend but once I defend an entity X on a project Y, it doesnt mean that I agree with

    1) Everything that X does on project Y
    2) Everything that X does on projects U,V,W
    3) How the contractor works on project Y
    4) How Project Y is from its dawn to dusk. I can offer limited perspective.

    I will always give you a fair opinion without a bias, even if I hold that project. View point and understanding may always differ little .. or a lot. :)

    hope that clarifies.

    I too, rest my case!!




    bhalla saab!!!

    Some of what you say is true but you were pretty strong in your critisism when we werent talking facts. Now, that we are talking facts, I see the scale of critisism has toned down a lot.

    please see my comments in blue.

    thx
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  • m3m merling construction has picked up reasonably well. this is still an optimally priced project in resale.


    M3M Merlin
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  • Like the premium specs of Merlin, other than Ireo I don't think any other project is providing specs like VRV -

    1. Does it make sense to buy a unit here as an end user?
    2. What kind of time horizon should I keep in mind?
    3. What are the current re-sale rates at which deals are being done?
    4. How much payment has gone?
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  • Hi guys, want to invest in M3M Merlin in resale - Anyfeedback on M3M as a builder compared to Ireo and Bestech in that sector? Will appreciate any feedback
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  • I had almost bought a unit here but for the sales team and my experience of M3M.

    - The official email id never gets a response.
    - The poorly made official websites doesn't give you much info. I had to struggle to find out the proper layout and positioning of various units in towers. Compare this to Ireo's and you would understand what I mean.
    - For a sales person who claims himself to be a manager for Merlin has almost zilch knowledge of the product. The people in the company themselves complain about the upper management! For a project of this status, one expects a knowledgeable, courteous staff.
    - I read it on one of the posts here which was confirmed by one of the brokers on Sohna road that M3M company was made by siphoning the money of land deals it brokered for Emmar MGF.
    - For some unknown reasons the price of this project has still not appreciated much compared to the other similar projects in vicinity.
    - The only saving grace for them as of now is L&T. Other than that, the whole experience with M3M doesn't instill confidence in me to go ahead and put my hard earned money into the company. I am really worried about their management capabilities. Even if the structure gets readied by L&T, no one knows how M3M may mess up on other fronts in the end. It is really too much of a risk to take.
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  • Originally Posted by ankurj
    I had almost bought a unit here but for the sales team and my experience of M3M.

    - The official email id never gets a response.
    - The poorly made official websites doesn't give you much info. I had to struggle to find out the proper layout and positioning of various units in towers. Compare this to Ireo's and you would understand what I mean.
    - For a sales person who claims himself to be a manager for Merlin has almost zilch knowledge of the product. The people in the company themselves complain about the upper management! For a project of this status, one expects a knowledgeable, courteous staff.
    - I read it on one of the posts here which was confirmed by one of the brokers on Sohna road that M3M company was made by siphoning the money of land deals it brokered for Emmar MGF.
    - For some unknown reasons the price of this project has still not appreciated much compared to the other similar projects in vicinity.
    - The only saving grace for them as of now is L&T. Other than that, the whole experience with M3M doesn't instill confidence in me to go ahead and put my hard earned money into the company. I am really worried about their management capabilities. Even if the structure gets readied by L&T, no one knows how M3M may mess up on other fronts in the end. It is really too much of a risk to take.

    My friends have a completely different positive experience to tell about M3M CRM and sales team. Also price of merlin is ~7100 which is just 400 less then Ireo victory valley
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  • 400 less? U mean VV is selling at 7500?? Really?
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  • Originally Posted by golu11
    My friends have a completely different positive experience to tell about M3M CRM and sales team. Also price of merlin is ~7100 which is just 400 less then Ireo victory valley


    Your friends may be lucky in that case. I tried talking to 3 different people and never got encouraging response.

    Also where are you able to get IVV for 7500?
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  • IVV certainly is 8500 to 9000 psf , any size .Merlin resale around 6800-7100 psf
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  • Very poor CRM and a worse perception amongst the current buyers/ investors was one of the key reasons of this project (resale activity) not taking off ....
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  • Originally Posted by ankurj
    Like the premium specs of Merlin, other than Ireo I don't think any other project is providing specs like VRV -

    1. Does it make sense to buy a unit here as an end user?
    2. What kind of time horizon should I keep in mind?
    3. What are the current re-sale rates at which deals are being done?
    4. How much payment has gone?

    I had booked in this project during pre launch time. There were initially delays and lack of information from the builder; I was definitely nervous for some time. However I am now more confident of the delivery particularly after the appointment of L&T as contractor for the project and speed of activities at the ground. A company representative came to my office in Jan 2013 and explained me the proposed plan for the project; this is appreciative. She told me that they plan to complete the structure by end of Q 4 2014 and I heard similar timeframe from L&T engineers when I visited the site 2 weeks back. Further I now regular monthly update on construction from the company, which is encouraging. So I feel it's a good investment or for self use. Currently I feel it's a value buy at current market price.
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  • Originally Posted by Sadishaun
    I had booked in this project during pre launch time. There were initially delays and lack of information from the builder; I was definitely nervous for some time. However I am now more confident of the delivery particularly after the appointment of L&T as contractor for the project and speed of activities at the ground. A company representative came to my office in Jan 2013 and explained me the proposed plan for the project; this is appreciative. She told me that they plan to complete the structure by end of Q 4 2014 and I heard similar timeframe from L&T engineers when I visited the site 2 weeks back. Further I now regular monthly update on construction from the company, which is encouraging. So I feel it's a good investment or for self use. Currently I feel it's a value buy at current market price.


    i van second your point on the speed of execution atleast in the last 6 months . Hope they stick to the schedule and it can turn out to be an underrated winner .
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  • They have a lot more riding on the Golf Avenue (or whatever it's called) and their reputation will be built or eroded based on what they do there ... Great location and concept

    Execution remains an unanswered question...
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  • Originally Posted by Magadh_Pride
    They have a lot more riding on the Golf Avenue (or whatever it's called) and their reputation will be built or eroded based on what they do there ... Great location and concept

    Execution remains an unanswered question...


    I agree 100% on M3m golf estate, construction here all has picked up pace. They still have a long way to go. You are spot on the execution bit.
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  • Originally Posted by Magadh_Pride
    They have a lot more riding on the Golf Avenue (or whatever it's called) and their reputation will be built or eroded based on what they do there ... Great location and concept

    Execution remains an unanswered question...

    I agree regarding execution risk, however with the appointment of reputed contractors like L&T, the risk gets mitigated significantly. But lots of execution to go!
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