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M3M Broadway in Sector 71, Gurgaon

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M3M Broadway in Sector 71, Gurgaon

Last updated: August 28 2020
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  • M3M Broadway in Sector 71, Gurgaon

    Hi experts,

    The project M3M Broadway in Sector 71, Gurgaon, is already under construction and the possession is expected in Q4 of 2023. This is multi concept, but I am thinking of investing in retail unit (about 550 sq ft), preferably on first floor which might fall within my budget (around 14K psft, around 80-85 Lacs in total). Till possession, they are giving assured return of 11%.

    Request please advise if this is a good project to invest in. What's the scope ? Would it be value for money!

    You may like to advise other competitive projects also, please.

    Thanks already.
    Last edited January 29 2019, 12:41 PM.
  • #2

    #2

    Re : M3M Broadway in Sector 71, Gurgaon

    Hi Sangeeta,

    Just to tell you a very interesting point here, about understanding floor numbers, this information is about m3m corner walk(and i assume it would apply same to Broadway) :

    1) Lower ground : only 25 shops
    2) Lower ground floor : this is actually the ground floor
    3) Upper ground floor : this is actually the first floor
    4) first floor : this is actually the second floor [so actually this point is for you, you are thinking that you are buying a first floor property but actually it will turn out to be 2nd floor], hope it helps.

    PS: I didnt even bother to check broadway details, the commercial retail lockable shops are under huge pressure, only the main road facing ground floor shops usually survive(but with so many markets coming, I suspect they will crumble under pressure in future), rest of the shops don't, thats my suggestion .. to stay away .. rest its your money ..

    2) a first floor in urbana is the first floor and same for m3m cosmopolitan [so I smell some sought of manipulation here in the new projects ..]

    Regards
    Rahul
    Last edited January 29 2019, 10:11 PM.

    Comment


    • Sangeeta Singla
      Sangeeta Singla commented
      Editing a comment
      Thanks Rahul ji...much appreciate your thoughtful response...

      Since you have not gone through the details of the project, please allow me to give you the overview...The concept of this project is bit different than that of retail projects..... Broadway is coming up with DT, service apartments, office suits, retail and food court (sort of The Good Earth Mall).....
      Wonder if it changes your expert opinion or still we should emphasize only on ground floor where the budget would go as higher as 3 crores which I surely I cant afford.
      Of course its our money, but then one would never wish to invest at huge risk/stake.

      Seeking your advice still....

      Thanks...

    • rahk2012
      rahk2012 commented
      Editing a comment
      Antyime Sangeeta.

      Nothing new in broadway, [M3m urbana + urbana premium] already has everything you mentioned[I dont know what is DT], all other developers like Dlf/Vatika/Ameya/Baani/Aipl/Paras/Amb/Elan/Signature global/SS group are working on similar commercial products

      2) I wanted to warn you regarding the first floor [floor clarity], you will end up buying something on the 2nd floor .. there are other factors like high loading factor[high super area .. less carpet area]/high maintenance[since your Super area is more]/over supply of retail shops/markets[builders themselves are strategically holding their units so at the end of the day the end users would struggle to maintain their roi, further no capital gains is on the cards in future, fake rentals are fabricated just to pump some good sentiments such that the prices of the shops could be made to run at a particular price point like 30k per sq feet for example] ... a few more points ..

      PS: I have wrote this message in a bit hush but I have tried my best to educate you .. rest my take is that the retail shops will be under huge pressure and the market correction would bound to happen in about 5 years [the builders have sold off their stuff at premium and its the end users later who would bear the brunt .. the market never waits for any1 .. it just corrects itself and moves on ..]


      Regards
      Rahul
  • #3

    #3

    Re : M3M Broadway in Sector 71, Gurgaon

    Thanks again...

    I wonder where to invest then ?...

    residential !!... do we have any options in gurgaon...talking budget, if its residential we can stretch it to 1 cr at maximum..... but in case of commercial, we have restricted the budget to 85 lacs...

    Talking residential investment, we would not prefer sector eighties.... around sohna road/SPR/golf course, do we have any options ??? or is it too less for the buddget.... ?

    Thanks....

    Comment


    • rahk2012
      rahk2012 commented
      Editing a comment
      * sangeeta:

      well I think in commercial you can invest in virtual office spaces or virtual space in an anchor store(but you need to understand a lot of things around it, specially the location of the property and the price point you are entering[assured return + first lease, these factors will decide your cost price]), if you are following the market over a period of time .. then only invest ..else I am sure you will be trapped.

      there are investors that bought in m3m urbana main road facing at 10,500 per sq feet in 2011/2012 "Vs" you are planning to buy a first floor shop in 2019 for 14000/per sq feet [which actually turns out to be the 2nd floor property], that too the urbana's location is expected to boom in the next 2 - 3 years where as yours will take 4 years to complete + add at least 6 years to be a dead property [urbana inspite of good location was dead for about 3 years.. ]

      Residential luxury properties are a dead investment ..you can do some due diligence in properties that are offered by signature global or ninex sector 76 [ just to give an example .. I compared m3m golf estates 3000 sq feet property with ninex sector 76 property which is 1950 sq feet .. the carpet are for both turned out to be almost same ..if you really wanna see a true premium property .. which is an actual true premium property .. I must say you should look at ninex sector 76 .. just try to feel how big are the room sizes ]

      PS: I am not endorsing ninex or bashing M3m, I am a huge fan of m3m's workmanship (the quality which m3m offers, their delivery speed .. but as an RE enthusiast .. my liking shouldn't be influencing me but rather various RE fundamentals .. )and its investors have prospered but those were old days .. the market fundamentals are very weak since last 5 years and expected to be worse going fwd ..

      Regards
      Rahul
  • #4

    #4

    Re : M3M Broadway in Sector 71, Gurgaon

    Is there any builder offering mixed land use where there are residences connected to mall/ office space. I'm not taking about service apartments. Thanks.

    Comment


    • rahk2012
      rahk2012 commented
      Editing a comment
      Radhadesh : Mate, urbana business park .. its next to victory valley .. m3m golf estate .. m3m merlin .. [these are like 5 mins drive away] .. now dont tell me if m3m is coming with a project with offices and residential apartments [that becomes a new category] ..

      PS : these office spaces are also 5 minutes apart : urbana premium/tee point/aipl central/m3m ifc etc

      Regards
      Rahul
  • #5

    #5

    Re : M3M Broadway in Sector 71, Gurgaon

    Hi sangeeta just went through your thread, broadway is a mix use development by M3M since you know the intricacues il give you as perspective on these projects, its located on the southern periphral road very near to the golfcourse road extension eventually going to be a metro corridor. Such high street retail projects have picked up a lot since about 2 years or so and to make it more lucrative developers are offering a return your money paid which gives back about 40% of the money you have paid. I feel SPR will take about 4-5 years to develop. This project has got a pretty decent catchment as well. Now there are a lot of such projects coming up in the vicinity,how good m3m will lease it, is proportional to the appreciation you will get.

    Comment

    • #6

      #6

      Re : M3M Broadway in Sector 71, Gurgaon

      Hi,



      I am close to finalizing the shop in M3M corner walk. Any advide or sugegstions from experts are welcome.



      Thanks

      Comment

      • #7

        #7

        Re : M3M Broadway in Sector 71, Gurgaon

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