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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  • which unit will be better? 2047 sqft (3BHK) or 2338 sqft (3bhk+s) in terms of long term investment?

    Is 11.5' x 11' a small size room? or people want better room size in resale?

    please advise
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  • Just visited the site and here are some pictures
    Attachments:
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  • Wasnt aware that Merlin has progressed that much.
    Maybe M3M is turning over a new leaf !!
    What is current resale here ?
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  • resale 6600 to 6700
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  • Originally Posted by KohliSuraj
    resale 6600 to 6700


    I m receiving quotes of 7000+ for my unit, I think resale rates should be more than 6600/6700 as M3M is buying back @6400-6500.
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  • Never ever trust these buy-back stories, no builder will ever do that.
    Even IREO brokers had floated an IVV buyback rumour encouraged by IREO themselves and it was all total lies !!!

    Originally Posted by Justbegud
    I m receiving quotes of 7000+ for my unit, I think resale rates should be more than 6600/6700 as M3M is buying back @6400-6500.
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  • got a call from broker...... got confirmed that M3M is buying back at 7K....
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  • M3M Merlin

    Yeah M3M is buying back Merlin for 7000.. Got calls from 3 brokers yesterday, they were quite aggressive in convincing me for this... M3M lately has started doing lot of good things- construction progress, brand building@advertisements, buyback to lift resale prices, transparancy@ shared new layouts (earlier everyone expected it to happen during possession), hiring right people (have hired almost entire team of Ireo), expanding broker network( recently they held series of sessions with brokers at their construction sites n added lot to the channel)...now i am quite bullish on this project, earlier wad feeling annoyed for last one yr :p
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  • advise

    Dear Senior members,
    Builder is selling at 9936 PLP 25-75 Plan with further 414 rebate on timely payment.
    What may the timeline for possession?
    Is it a fair deal?
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  • Not a fair deal at all.
    Why would you buy from builder at 10000 when resale is at 6700-6800 ?
    And dont trust the timely rebate, builders will find ways to wriggle out of it.

    Originally Posted by eildilp
    Dear Senior members,
    Builder is selling at 9936 PLP 25-75 Plan with further 414 rebate on timely payment.
    What may the timeline for possession?
    Is it a fair deal?
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  • Thanks Saxena ji,

    What may be the right price for just to pay 25% in next 3 months and rest at possession for Merlin.

    I heard company is buying back at 7k, so the resale from market will be available >7k.
    Should it be okay if the rate comes down to 8900 (including timely rebate)?
    Thanks
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  • Such subvention schemes are a complete no-no in current times.

    I'd done an analysis for IREO Victory Valley subvention scheme here :
    https://www.indianrealestateforum.com/forum/other-forums/general-real-estate-discussion/937-nagpur-sez-only-sez-in-maharashtra-to-complete-land-acquisition?p=1514#post937
    Just put the amounts for Merlin instead and do your analysis and you will find how disadvantageous it is even with the claimed Timely Payment discount.

    I dont believe any buy-back scheme. These are always rumours propagated by builders themselves via brokers. It should be quite feasible to find a good resale deal below 7k in resale.

    Originally Posted by eildilp
    Thanks Saxena ji,

    What may be the right price for just to pay 25% in next 3 months and rest at possession for Merlin.

    I heard company is buying back at 7k, so the resale from market will be available >7k.
    Should it be okay if the rate comes down to 8900 (including timely rebate)?
    Thanks
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  • Merlin resale

    Saxena ji, i agree to your views on PLP schemes being not of much use for customers especially if you enter at current stage of construction ... But i disagree to your view on units (smaller units , <2200 sq ft) available in resale below 7K..i am an investor in this project so my viewpoint might look biased to you but they are actually buying back smaller units at 7K (i know these schemes are of limited period as they are launched to create hype in market), i almost went for the scheme last week but backed out at last moment because I felt its a safe investment at this juncture and can give some more returns in medium run...you don't need to believe brokers but can directly call and check from company on buy back at 7K (the catch is they are doing only for small sizes, which is logical too as builder has to make profit out of it as well by selling units back and its tough to sell big size units at higher prices)...why would anyone with a small size unit sell at less than 7K and not go for buy back?
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  • I got information that this buyback is only for 1st buyer and not for customer who bought in resale....is it true...can some one confirm
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  • Im not really tracking current prices. I had checked prices six months back when I was hunting for flats and at that time it was 6300-6500, so I would expect 6700-6800 right now (and thats what I have seen in the broker emails I keep getting now & then).
    On buyback, IREO along with its brokers had spread many rumours for Victory Valley, still sellers were willing to meet up with me for deal value lower than IREO's supposed buyback price. And everytime buyback was mentioned, I asked why the seller wasnt going for buyback instead of wasting time with me, I got vague answers like buyback is only for Towers or only for middle floors or only for midrise or only for pool facing etc etc.
    Maybe some financiers/underwriters sold back their flats to the builder and that may be the basis for such rumours but I dont believe that any buyback is open for general public. Anyways thats just my view based on my experiences and you are entitled to your own view.

    Originally Posted by reeti81
    Saxena ji, i agree to your views on PLP schemes being not of much use for customers especially if you enter at current stage of construction ... But i disagree to your view on units (smaller units , <2200 sq ft) available in resale below 7K..i am an investor in this project so my viewpoint might look biased to you but they are actually buying back smaller units at 7K (i know these schemes are of limited period as they are launched to create hype in market), i almost went for the scheme last week but backed out at last moment because I felt its a safe investment at this juncture and can give some more returns in medium run...you don't need to believe brokers but can directly call and check from company on buy back at 7K (the catch is they are doing only for small sizes, which is logical too as builder has to make profit out of it as well by selling units back and its tough to sell big size units at higher prices)...why would anyone with a small size unit sell at less than 7K and not go for buy back?
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