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 gvipin
    Am I missing something here.
    Why is location better. Won't it be next to Badshahpur and far away from main GCex/SPR. Badshahpur is not a small village like Kanhai / Chakarpur and will always have

    If I compare it with other new launch say Unitech South Park then
    1. Specs are similar
    2. SP will have better access to HaldiRams, Sohna Road, Rajeev Chowk
    3. Has similar status neighborhood in Tata, NC-2
    4. More reputed builder albeit people with myopic view might not agree
    5. No village in vicinity

    Why should one invest in M3M and not in SP at 5200 or whatever the current price.

    Disc: Yes, I am invested in SP and was re-evaluating my decision to hold or not as people said this is very attractive pricing and could not convince myself


    Yes the vilage is near , that is a concern , but it is not that close to the project as well , my main concerns with merlin have been highlighted in my previous posts .

    And sec-67 will always be considered a better sector when compared to the sectors 70 + on SPR , considering the tag of gc ex , and also the projects that are coming up in the surroundings , and in future as well will be high end luxury apartments , contrary to the sectors 70 + SPR .

    Also there is vast difference in spec of merlin and south park if you take a closer look in both projects .

    Unitech as it is has its own concerns regarding financial health , not saying M3M is would be any better , but i guess the two cannot be compared , unitech has delivered various projects in the past with par to below par delivery of final product , whereas M3M has delivered nothing as yet , its anew entrant with a promising future , nothing can be said until it delivers something .

    If you just simply compare the two projects , the posh quotient lies with m3m merlin for sure !!1

    A similar project called ireo skyon which was at same distance from gc ex as merlin is was pre launched at 6500 per sq ft , and now company price is 7500/7700 and resale is 7000ish i guess , so if you compare merlin with that , then its a decent proposition .

    Also many concerns have been pointed out by me in my earlier posts in the thread as well , which need to be looked into before taking a decision .
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  • I think that Ishan is right, exit out of this project will not be easy in 6-12 months and you will need a longer horizon for investing.
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  • Better to buy anyother GCX project in resale anyday better than this M3M project. Totally avoidable

    Uptown much better location 5000
    IVV Much better location and specs 5800
    PP
    Emaar

    name any other project it will be better then this one on GCX

    I think there is a big question mark on the credibility of M3M. it will be foolish to call it a brand on the basis of the specs of its previously launched projects.

    It is infact not a brand..

    Ireo also has not delivered but the pedigree and the FDI factor is comforting.

    M3M shud be avoided especially at this price...
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  • I agree with your comments Amit. At this price, M3M needs to be avoided on account of it being a new group. It will be a high-risk high-reward case.

    Other 67 properties are available at better rates.
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  • My opinion is similar to Ishan's inputs about this project.However , M3M's endevour has been to build brilliant brand equity since it's inception and it's visible and trying hard to win investors and end - users faith in this unregulated RE sector.For now , i feel looking at location per se which is deep inside Badshahpur Village.Village viccinity irks the most. ( Esp when there's been stay on fresh acquiring of Badshahpur Village land - It's there in today's news ) and already comparison between Ireo VV , this project is No No for me.This is my POV.
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  • I think they have been pretty successful in creating a buzz; but they need to translate this buzz into action. Until they deliver on the promises, M3M looks like a risky proposition, especially for Merlin.
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  • amit ji with due respect to you i would like to differ withyou on almost all the points . Firstly M3M is as good a brand as IREO .They have similar patterns of working , both have appointed L&T as their contractor . Both of them have marketed their brand really well . It is ridiculous to say that IREO is a brand and M3M is not .
    Secondly returns on investment has been much higher in m3ms previous project than IREO's projects.
    Thirdly a project like uptown cannot be compared with Merlin . Merlin has way better specs than uptown .
    Next , the location of uptown is deep inside in the sector. When all sector roads are ready Merlin will have a way better approach than uptown .
    IVV location is definitely better but virtually there is only a difference of 19-21. And exit / selling at this point of time is very difficult from IVV , this is a fact .

    and this project is not deep seeded in badshahpur village its like this , on sector 66-67 sector road there is first IVV thdn landmark IT then Merlin, then the whole township of ansal essencia then PVSN and then the Bqdshahpur village .
    Considering its a new launch with high end specs and good new amenities like intelligent home access system , reflexology walk paths and s central water body in the project thats actually a lazy river swimming pool it is a decent project at a decent price range .
    In my point of view it is a better buy than ireo skyon , ireo 67 a project etc .

    It is a good project to invest in considering it is a fresh launch and landing price is nearabout 5650 per sq ft .

    If you have to compare this with resale projects then i think palm terraces select is a very good option just because it is avlble in the market at buying price as well . AROUND 5600-5750 i guess . But investing in emaar is also a big worrying factor right now.

    And heres a cheers to my first long post on this esteemed Forum

    CHEERS amit ji and other senior forum members




    Originally Posted by amit001
    Better to buy anyother GCX project in resale anyday better than this M3M project. Totally avoidable

    Uptown much better location 5000
    IVV Much better location and specs 5800
    PP
    Emaar

    name any other project it will be better then this one on GCX

    I think there is a big question mark on the credibility of M3M. it will be foolish to call it a brand on the basis of the specs of its previously launched projects.

    It is infact not a brand..

    Ireo also has not delivered but the pedigree and the FDI factor is comforting.

    M3M shud be avoided especially at this price...
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  • Prakash I do not agree woth you. IREO is an FDI based company.

    But i respect your opinion.

    Cheers
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  • Still receiving daily SMS of their inaugural discount. How many days before this discount is discontinued ? Any idea on how the response has been to this project so far?
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  • Originally Posted by ggnkaaadmi
    Still receiving daily SMS of their inaugural discount. How many days before this discount is discontinued ? Any idea on how the response has been to this project so far?

    My broker also has been asking me about this project, he said pre-launch is still on. Im confused on this as the layouts given do not look very efficient to me.
    - The 3 BHK 1794 sqft has 2 Bedrooms which are both smallish (the master bedroom is 12X12) and a Study of 10X10. No servant quarter.
    - The 3 BHK 2387 has better sized bedrooms but smallish bathrooms and a huge terrace (13X15 ft). Again no servant qtr. In such a size, I would expect to have 4 BHK or atleast 3BHK+Study and a servant quarter.

    I know investors dont do such nit-picking but Im more of an end-user and dont really like these layouts much.
    Does anyone know if the layouts are confirmed, as per the broker they may change layouts later.
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  • the layouts are more or less confirmed...they may do a bit of tinkering but expect too much change...
    yes 2 baths is a challenge...


    Originally Posted by sh-saxena
    My broker also has been asking me about this project, he said pre-launch is still on. Im confused on this as the layouts given do not look very efficient to me.
    - The 3 BHK 1794 sqft has 2 Bedrooms which are both smallish (the master bedroom is 12X12) and a Study of 10X10. No servant quarter.
    - The 3 BHK 2387 has better sized bedrooms but smallish bathrooms and a huge terrace (13X15 ft). Again no servant qtr. In such a size, I would expect to have 4 BHK or atleast 3BHK+Study and a servant quarter.

    I know investors dont do such nit-picking but Im more of an end-user and dont really like these layouts much.
    Does anyone know if the layouts are confirmed, as per the broker they may change layouts later.
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  • the prices have increased to 6350 and 6500 per sq ft (depending on tower)about a week - 10 days back , so the inaugral discounts have been taken off , and prices increased by 250 and 400 respectively !!!
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  • Originally Posted by prakash1
    the prices have increased to 6350 and 6500 per sq ft (depending on tower)about a week - 10 days back , so the inaugral discounts have been taken off , and prices increased by 250 and 400 respectively !!!

    I think the discount is still available for this. Price looks ok for the specs they have given but comfortable with the location, floorplan and not sure of what ROI would be there.
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  • For the benefit of guys, who missed this article . Saare Builders chor hain, all r in the same boat .


    Originally Posted by MANOJa
    A recent raid by income tax sleuths on the offices of a prominent Gurgaon-based realty firm M3M India Ltd yielded Rs 314 crore unaccounted income. Searches, conducted this month, led to the seizure of which revealed many unaccounted transactions for purchase of land and other business activities by the company. This is one of the highest seizures in the region, according to I-T officials. M3M India Holdings, a sister company of the M3M Group, sold 8 lakh shares of another firm of the same group RS Infrastructure Pvt Ltd for Rs 526 crore to Lowe Realty Pvt Ltd, a group concern of Religare, Mumbai, Hindustan Times reported, citing I-T sources.

    M3M India Holding has Basant Bansal, Roop Bansal, Abha Bansal and Punkaj Bansal as partners. The company had 8 lakh shares of RS Infrastructure Pvt Ltd, which also had about 18 acres of land in Golf Course Extension Road, Gurgaon with commercial CLU (change in land use) certificate. The documents showed that M3M India Holdings had already handed over 4,88,000 shares to Lowe Realty Pvt Ltd at Rs 6,575 per share and had received part payment of Rs 240 crore in the current fiscal. The amount was a part of the total transaction of Rs 320 crore and, therefore, was liable to capital gains tax in financial year 2011-12.

    During the search it was found out that the assessee, M3M India Holdings, had manipulated its accounts such that the amount was not shown as income in the current fiscal. While Rs 314 crore had been surrendered, more unaccounted income was likely to be detected on the completion of the case in a fortnight’s time, said YR Saini, director, Directorate of Income Tax (investigation). Apart from the revenue intelligence gathering, a lavish function organised on an island in Turkey by one of the company officials for her daughter’s wedding proved to be a major lead for the I-T sleuths. A huge expenditure was incurred on the marriage, the report added.



    IT Raids Gurgaon Based Developers M3M
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