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M3M Escala, M3M Group, Sector 70 A, Gurgaon

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M3M Escala, M3M Group, Sector 70 A, Gurgaon

Last updated: April 12 2019
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  • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

    Hi Debrajsen

    Hold onto cash. Put it in a FMP or debt fund.

    Days of 30% payment and flipping are long gone. People have burnt their fingers with most of the recent new launches.

    Regards

    Gaurav


    Originally posted by debrajsen View Post
    Thanks Shane-bhai.... Have put my decision on hold!!! Have told M3M to withdraw this clause or else deal is not going through!! Lets see their reaction... Doubt whether they'll withdraw just for one buyer??

    In case they don't, can u suggest any other avenues for investment of ~30 L ??

    Regards,
    Debraj

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    • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

      It's bad for Ireo Corridors investors. A friend had invested in the project hoping to flip it for some profit despite being told otherwise. He is not able to dispose it off even at cost to cost basis.

      Same is the case with all the recent launches.

      I think it's gonna get worse before it improves.


      Originally posted by sh-saxena View Post
      Well, but there are so many people who are still lured by 30% flipping and gullible enough to be taken in by brokers promises that this may soon be a sellout too. Same like IREO Corridors managed to sell most of the inventory they had released and there was a huge rush at that time and now after 6 months units are available at cost price easily but no ones buying !!

      So after a few more short time investors burn themselves, sanity may return to the marketplace.
      Already buyers may have noticed that all white and max white deals are quite feasible in GCX, simply because there are not enough investors interested in GCX anymore.

      Comment


      • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

        M3M Escala, Sector-70A

        Do you know which builders hv this clause.... I am not sure if this has started yet in noida market.

        Originally posted by kumar77 View Post
        Good, i am not an outlier then.
        The borker was trying to convince me that now-a-days all projects that are launched have escalation clause in them. But I was adamnant that I will only go ahead with my cheque if builder agrees to take off the escalation clause from the form. Broker said it doesnt matter, no price will be increased. I dont believe these builders.
        Anyway, I decided not to invest in any project that has escalation clause in it. That's the message the broker got from me.



        Sent from my iPhone 5 using Tapatalk

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        • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

          Originally posted by Aviral79 View Post
          Do you know which builders hv this clause.... I am not sure if this has started yet in noida market.
          I dont have a comprehensive list. But emmar has already started it, i am sure Gurgaon Greens has escalation clause. And, this could be one of the reason that at one point of time GG was selling for 5400 psqft and now it has come down to 4900 psqft. From IREF I have learnt that Ireo has esclation clause in its projects. From brokers I have learnt that DLF, unitech, IREO has escalation clause but they have not invoked it at the time of possession. As per my understanding, DLF, Unitech, and IREO have not delievered those projects that have escalation clause. So, we will know the real abuse of this clause once the projects with escalation clause are delievered. Get ready for news on dharnas.

          Yes, you are right, as per my knowledge the noida builders have not yet been smitten by escalation bug. As a matter of fact, there have not been any many launches in Noida in the past 6 months, to the best of my konwledge there has not been any new launch so far in the past six months. But, it wont be very far away when we will hear the similar clause in Noida projects.

          Comment


          • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

            Thanks brother!! An article in HT Estates (property paper of HT) had come out y'day mentioned that `Escalation Clause' is mandatory for ALL contracts whether builder mentions it or not!! Found the article a big joke... a clear case of builder lobby promoted article .... greedy journalism at the cost of gullible clients like you and me !! The broker also called me to refer this article!!! Jokers all..

            In my work, we bid for process plants worldwide (running into US$ xxx Million) having no escalation clause during the completion period.. and on the contrary, clients can levy Liquidated damages if completion time exceeds contracted time .....and to read the article was downright ridiculous???!!!???

            Regards,
            Debraj


            Originally posted by JethroNull View Post
            Hi Debrajsen

            Hold onto cash. Put it in a FMP or debt fund.

            Days of 30% payment and flipping are long gone. People have burnt their fingers with most of the recent new launches.

            Regards

            Gaurav

            Comment


            • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

              Never trust any article or property show.
              Every single one of them whether price increase/price decrease/rental increase/decrease/what to buy/what not to buy etc etc is planted by some interested party or other.
              I find this forum the best for RE knowledge !!

              Originally posted by debrajsen View Post
              Thanks brother!! An article in HT Estates (property paper of HT) had come out y'day mentioned that `Escalation Clause' is mandatory for ALL contracts whether builder mentions it or not!! Found the article a big joke... a clear case of builder lobby promoted article .... greedy journalism at the cost of gullible clients like you and me !! The broker also called me to refer this article!!! Jokers all..

              In my work, we bid for process plants worldwide (running into US$ xxx Million) having no escalation clause during the completion period.. and on the contrary, clients can levy Liquidated damages if completion time exceeds contracted time .....and to read the article was downright ridiculous???!!!???

              Regards,
              Debraj
              Last edited October 27 2013, 10:11 AM.

              Comment


              • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

                Originally posted by sh-saxena View Post
                Never trust any article or property show.
                Every single one of them whether price increase/price decrease/rental increase/decrease/what to buy/what not to buy etc etc is planted by some interested party or other.
                I find this forum the best for RE knowledge !!
                Yes, and it is so very evident. There'll be a half page article saying that "XYZ is the hottest and the most upcoming destination in NCR". And the other half of the page will have 3-4 property ads for the same location offering your dream home!

                Comment


                • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

                  I believe if every developer including Tata, DLF, 3C's etc are using Escalation clause then we can't do anything unless Regulation bill get implemented. Developers are also using area increase clause to maximize their profit margins and now people have more or less accepted the clause for area change.
                  I know a senior project person in M3M and according to him Management is focused on giving quality product to End-user. For Escala also (a small project-just 2 towers), they have hired an international architect so that their brand is not compromised. Looking at the other projects in vicinity, this project is the best in terms of pricing and quality specs (my POV) and should be deliver early.
                  I have given a cheque for 2BHK and hope my investment get multiplied asap.
                  Happy Investing!!!

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                  • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

                    I agree with you justbegud that management is focused in giving best quality as i own an apartment in golf estate and looking at the speed and quality of work at the site, I am fully satisfied.

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                    • Re : M3M Escala, M3M Group, Sector 70 A, Gurgaon

                      Heard of M3M Escala launch but no info on website?????

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