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 samie001
    I expect ...it will be 5-6 year from launched... When big builders like DLF , IRE! EMAAR takes more then 5 year then why to blame M3m alone.... Construction is progressing ... 4th floor installment should be payable anytime now......


    I am looking for a unit in Merlin or equivalent projects for end use........pl

    Inputs on resale price in this project would be much appreciated....

    Seniors please advise
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  • Merlin- M3M's Residential, Sector 67

    Originally Posted by Fernvale
    I am looking for a unit in Merlin or equivalent projects for end use........pl

    Inputs on resale price in this project would be much appreciated....

    Seniors please advise


    Your ID sounds like a fellow Singaporean :)
    Hopefully, the promised "Singapore style apartments" is not the only reason for your interest in this project. Do go thru the earlier comments in the thread, and do your due diligence before taking any buying decision.

    It's as much true for this, or any other investment in the current market situation.
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  • The construction pace is reasonable since last one year, expected delivery is Q4, 2015, which is appropriate for that location. I hope there would be reasonable infrastructure by that time. Further this would be the first residential project to be delivered by M3M group, so stakes are high for a quality delivery. With L&T as construction contractors, I expect a quality delivery.
    I understand prices are down these days, you can expect a good location at 6800

    Originally Posted by Fernvale
    I am looking for a unit in Merlin or equivalent projects for end use........pl

    Inputs on resale price in this project would be much appreciated....

    Seniors please advise
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  • Originally Posted by Magadh_Pride
    Your ID sounds like a fellow Singaporean :)
    Hopefully, the promised "Singapore style apartments" is not the only reason for your interest in this project. Do go thru the earlier comments in the thread, and do your due diligence before taking any buying decision.

    It's as much true for this, or any other investment in the current market situation.



    Your guess is correct M_P...I am based out of Singapore only......r u invested in Merlin.....any idea on the current resale price for 2035 sqft or 1844 sqft unit......

    And interest is not because of Singapore Style apartments :).....
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  • Currently you can get units in Merlin at the rate 6500 to 6800 so all the best and it is a very good project. its just the delay in construction that had got its value down. so good for the people who are into buying it now coz at a point of time the re sale had gone up to 7100. and 2 month back only we sold a unit at 6900 to a fellow from Singapore only.

    2035 & 1844 both are lower floor unit so u might get it at 6500 to 6800 depending on back or front facing.
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  • Can anyone share construction update of Merlin
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  • Can any one has more information about whether Merlin impacted by court ruling....
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  • Originally Posted by samie001
    Can any one has more information about whether Merlin impacted by court ruling....


    No update as yet on the impact of the court ruling. Whether on merlin.. or any other project. Lets wait and watch!!
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  • Sector 67 is in the safe zone as far as i have heard. also got to know that the is a buyer in the market or mayb its the company dont know exactly. they are buying back at 6300 all sizes
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  • Latest publicity blitz!
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  • Dear Viren,

    You may go through my POV shared in the past with my view on Merlin. You may go to the respective thread to understand other's POV as well.
    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/16649-merlin-by-m3m-group-in-sector-67-gurgaon/page14?t=18887&page=14.

    Even today I still believe its a good value buy at the moment. Whether it has given return in the past or not the fact is low price of Merlin is good news for you.

    For any new buyer in Gurgaon, projects like Merlin would be a good omen as atleast there are few projects in gurgaon where one can enter even today and make some money in next 5 years.

    It has everything in it to make it a blockbuster in the long run. Even Sholay was termed a big flop when it was launched. Its only later it went on to become blockbuster.

    With 21st century's angry young man already riding on to it, just join him in the ride and wait for 3-4 years for you to make good money out of it.

    All the best..

    RA.

    Originally Posted by rushilarora
    Bang on Analysis of Merlin. Very rightly said. Would like to add few more reasons for its debacle :-


    - This project was launched at the time when M3M's credibility was at all time low and that too at over ambitious price. When after the launch they didnt get expected repsonse, they sold a very large part of the inventory to many financiers and underwriters with a promise of handsome gains in times to come. They were also offered handsome discount so many units were picked up. This lobby generally holds the unit with the cash flow plan of 2 installments. M3M faltered on construction start and demanded the third installment. This is where many of these investors lost their patience and have come out in the market at the same time. The price that you see is only due to over supply in the market and Demand from M3M for the 3 installment. I think the 4th one is also already due or is due shortly.

    - Second thing that went against in M3M's favor was loosing the confidence of the channel. Most of the commission due was held back for a long time and many of them didnt get the fair deal. What was promised wasnt delivered. Hence there was a strong backlash by the channel for the group and none seem to be excited to promote this project. By the time the group realized its mistake, it was too late and the image had already taken a beating. Nothing can explian this paradox when the project next to IVV, with similar specs and the best contractor (L&T) is still trading at discount.


    - Third big mistake was launch of Milano immediately after Merlin. Even that project was grossly over priced for that location. Infact location was really really bad. Those investors who had invested in Merlin with the hope of exiting at 30% installment, felt cheated as all the new investors were more or less tempted to invest in Milano, due to price difference and payment schedule. There was lots of confusion in the market. Merlin and Milano were competing with each other for the same share of pie and at the end cannabalized them selves.


    - Fourth and the worst thing that happened with M3M amidst all this chaos was the scrapping of Milano. What ever investor and the end user confidence was left in the market vanished over night and severely impacted the sale of Merlin. Scrapping of Milano was onbf of its kind example on Gcx, SPR, or any where in Gurgaon.

    - Lastly to add insult to injury there were rumours in the market that L&T has fallen out of the association with M3M and they would no more be doing their project. This added further fuel to the negative sentiments. Fortunately this issue was sorted out timely and without larger damage, Golf estate construction was put back on track. Many ads were released (re-released) in all national dailies about L&T and M3M association. I think post all this the momentum which was going down day by day stabilized at the bottom and now things are looking better then before.

    There is some construction visible at the site and that brings in some confidence on the table.
    Having said that, does this mean "All ez Well". Well no one knows right now. M3M as a group and Merlin as a project is at inflection point right now. They can regain what they initially envisaged about their identity or they can completely loose it again at this juncture. So this brings us to the classic vantage point . This stage sets the ball rolling for tempting returns to investors and probable "Good decision gone SOur" for the smart investor.


    At 6400 and at this location and with this specs, its a good value buy. But the returns wont be exceptional in short run. One will have to wait for good time to get return and your patience will definetely be tested.

    Till the time current inventory in the market and all the distress sales land up in strong hands with 2-3 years horizon, there will be severe pressure on the prices. I am sure slowly slowly this inventory is getting reduced. Once it gets over, you will hit the sweet spot.

    Now how many of us have the guts to take a plunge now and get the rewards later ,only time will tell.

    This is how folklores of Gurgaon RE returns are made of.

    Game is open now.

    RA.



    Originally Posted by rushilarora
    Its a very tricky question but let me try and answer it .

    I would 100% buy it if I fall in either of the two cateogires or stage of Investment :-

    1. If I have alreay made good returns in my first or second purchase and I am used to seeing good return and also understand the value of holding power (3-5 Years). None of the new launches excite me with their price proposition. Merlin does. Just because I am getting lots of distress sale.

    2. I dont want to go beyong Gcx. Period. If I belong to this category and I have 3-5 years of horizon and I need something in the least possible budget, I will go with Merlin. They also have a 1700 sq ft size for 3 bhk which you dont get in Gcx. At the current price and with this size, total cost of ownership is the least amongst all Gcx projects (for 3bhk).

    To be in the either of the above categories one needs to have :-

    1.Strong mind. Be confident of one's decision. If value deals were so easily identifiable, all of us would have been rich. Also enough confidence in oneself to not get dissuade by the negativity all around.

    2.Holding power of 5 years. Thats when the real return will come.

    3.Patience to sleep over this purchase and forget about it for 2 years.

    Reasons for my such decision would be .

    1. TINA - Is there any alternative at this price in Gcx. Price and Negative factors will move in opposite direction with the passage of time. Once the construction reaches its full speed, prices will move up and all negatives will come down.
    2.Location :- If IVV is projected to reach at 15k by possession then at 30% discount this will be at 11k approx by then. Which means from current level atleast 70-80% upside.
    3. As far as return is concerned one can say that you invest in gurgaon any where today and in 5 years this return will come. But is there any comparable location that comes to you with this return where you may also want to live one day? So it serves two purpose.
    4. This belt of sector 65,66 and 67 will be the new eco system power house of gurgaon in the future. Growth of this area is not dependent on Ireo alone but will be brought together by M3M,Emmar,Ireo, Ansal, Bestech and BPTP.
    So lot is riding in this area.
    5. Lastly this is the only project onn Gcx that is available so close to its launch price. So in terms of future slow down or recession,this project has the least risk in terms of price going down below the launch price.
    Even if M3M goes bust tomorrow, there will be enough takers for this project due to its location. By takers I mean in case of liquidation, many developers would be keen to buy this.
    Well this is the worst case scenario that I am sure none of us will see in our lifetime.

    Hope this helps.



    RA


    Originally Posted by rushilarora
    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 Virenx
    sir, please advise :-(
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  • M3M approaching individuals to give feedback to the company on costumer satisfaction... what feed back should one be giving?
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  • Any recent deal in Merlin 6500 or below ???

    I am looking for the smallest size...
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  • Originally Posted by orangecounty
    Any recent deal in Merlin 6500 or below ???

    I am looking for the smallest size... who is the best broker to go for


    hie.. the smallest size is 1844... it has recently been revised to 2025 for most flats. i am not sure if any 1844 remains..
    Price should be 6600--7200 for this size unit. Bigger sizes 2300+ may be cheaper..

    There are no good or bad brokers.. there are only two things..

    1) Good Price and
    2) Good due diligence..

    otherwise broker is the antonym of anything good or positive!! :D:D
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  • Is the increased size because of the extra bathroom ?
    Thats good that they have understood Indian sensibilities and have now made 3 bathrooms in 3BHK. I had not gone for Merlin because had got put-off by the idea of 2 bathrooms in 3BHK.
    Maybe M3M is turning over a new leaf, they do seem to have made all the right noises lately.

    Originally Posted by St_Anger
    hie.. the smallest size is 1844... it has recently been revised to 2025 for most flats. i am not sure if any 1844 remains..
    Price should be 6600--7200 for this size unit. Bigger sizes 2300+ may be cheaper..

    There are no good or bad brokers.. there are only two things..

    1) Good Price and
    2) Good due diligence..

    otherwise broker is the antonym of anything good or positive!! :D:D
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