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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  • As I wrote earlier, the only thing good about this project as of now is l and t. Other than that there sales team is highly highly disappointing. Given the type of management, Personally I find it a high risk investment. May be a good investment for a seasoned investor but not really great for an end user at this point of time.
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  • Mail from a broker :

    In our endeavour & continuous efforts to present you the
    best Investment opportunities in Gurgaon, we are very pleased to share the Hot
    Deal of the week M3M MERLIN (golf course extension road) Sec-67Gurgaon.

    Property Details

    Costing Sheet Tower-1 10th floor


    Sellers Expectation


    Area 4BR Apartment 3286 sqft

    BSP + Premium 7050 Per sqft

    Total BSP + Premium Rs 23166300


    2 Car Parking
    900000
    Rs



    Preferential Location Charges (green facing)
    675
    Rs per sqft
    Total PLC Cost
    2218050
    Rs



    EDC/IDC
    395
    Rs per sqft
    Total EDC/IDC
    1297970
    Rs



    IFMS
    328600
    Rs
    CLUB
    200000

    30% Paid


    Total Cost
    28110920
    Rs
    Booked @6100


    SERVICE TAX WILL BE CHARGED AS APPLICABLE.
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  • went to site...constuction is going on at good pace... once structure is visible...rate will catch up...that what my POV..
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  • I am considering investing in Merlin 2035 SFT. I am advised that the going rate in resale is about Rs. 6800.

    is the rate correct ?
    With the recent spurt in activity what is the likely time to possession ?
    What is the current payment status ? when is the next demand expected ?

    Thanking you

    Regards
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  • Originally Posted by "rcflyer
    I am considering investing in Merlin 2035 SFT. I am advised that the going rate in resale is about Rs. 6800.

    is the rate correct ?
    With the recent spurt in activity what is the likely time to possession ?
    What is the current payment status ? when is the next demand expected ?

    Thanking you

    Regards


    You shud give some thought to the fact why the rate has remained almost static (ok, may be 300/500 up) since its launch almost 2 years back when other projects with much higher outflows have appreciated by over 1000 psf.

    You can check the launch rates from the first post on this thread and ponder what's wrong....
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  • Thank you for your response Magadh_pride...but I cannot understand the point you are trying to make.

    What is wrong with M3M or the project ? to me it seems like a good buy ? specially now since L&T is constructing and that too at a good pace.

    But if you have some specific point/info please share so that I make an informed decision.
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  • I been to site...saw construction by L&T, its going in good pace ... actually both Victory Vally and M3M is by L&T ... and victory vally is already at 8800/- ... with the spec which Merlin has, its a good buy at this stage... once structure is ready..it will catch up to market rate...

    Apprehention is about builder credibility but with L&T on board that should be taken care to an extent... if some one decide to buy..its right point of entry...payment made is around 50L and premium also in reasonable..

    Its my PoV... people may have different views..
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  • Originally Posted by "rcflyer
    Thank you for your response Magadh_pride...but I cannot understand the point you are trying to make.

    What is wrong with M3M or the project ? to me it seems like a good buy ? specially now since L&T is constructing and that too at a good pace.

    But if you have some specific point/info please share so that I make an informed decision.


    I was suggesting due diligence to ascertain the reason for low appreciation- why is that this project is finding few takers - with a decent location and as you quoted worthy neighbors

    There is enough discussion in the proceeding pages of this thread - from builder credibility to poor layout/ design to aggressive payment plans. Also the track record so what they have done with their other launch(es).... End of the day liquidity of a project is also important for an investor... You don't want to get stuck with an investment

    Personally, i prefer easy liquidity with decent appreciation to a Low price and hard exit. More so in today's situation of the gurgaons RE

    Others may have differencing views - and that's perfectly fine .....
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  • Yes I had agreed with the stated position a year back, however with appointment of L&T and speed of construction since then, the risk has reduced significantly. Brand M3M is yet to be fully tested and I do consider many new builders in same category till delivery of final output. As a M3M customer for over a year, I do feel M3M has made good changes in recent months. 6800 is a good price to enter Merlin.


    QUOTE=Magadh_Pride;799371]I was suggesting due diligence to ascertain the reason for low appreciation- why is that this project is finding few takers - with a decent location and as you quoted worthy neighbors

    There is enough discussion in the proceeding pages of this thread - from builder credibility to poor layout/ design to aggressive payment plans. Also the track record so what they have done with their other launch(es).... End of the day liquidity of a project is also important for an investor... You don't want to get stuck with an investment

    Personally, i prefer easy liquidity with decent appreciation to a Low price and hard exit. More so in today's situation of the gurgaons RE

    Others may have differencing views - and that's perfectly fine .....
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  • Do any one have idea when is next instalment expected for completion of Ground Floor... and if already recieved then please inform for which tower .. I am looking information on Tower 9
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  • Next installment is due next month. I visited the site early this week; spoke to Mr. x at the site and was informed nearly 850 workers were engaged on site that day. Could see good visible progress since last vist a month back.
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  • thanks
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  • I got this update from M3M...sharing with group.. seems that construction progress is good..
    Attachments:
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  • Progress does seem to be good. I have finalized a 2035 SFT aptt in Tower 6.
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  • can you share the rate to know the price at which deals are on currently
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