Project Watch: M3M Marina, Gurgaon

In Gurgaon, M3M group is synonymous with luxury housing. The latest project of the M3M group is M3M Marina. This project, planned in Sector-68, Gurgaon, is yet to be launched, but it has already attracted the attention of end users and investors.

PropTiger.com reviews the project.

The Product:
Spread across 242 acres of land, M3M Marina offers 204 units of 2 and 3 BHK apartments. The unit size of the 2 BHK apartments is 1260 sq ft. The unit size of the 3 BHK apartments range from 1550 to 1900 sq ft.

[caption id="" align="aligncenter" width="701"] Investing in M3M Marina might yield good returns because the price has appreciated 4.1% in the past four months[/caption]

The USP:
The prime attraction of this project is an artificial lake that spreads over 2 acres. But, it is still not clear how the M3M group would maintain the lake in Gurgaon where the water supply is often disrupted.

The project has amenities like:

• Gymnasium
• Swimming pool
• Club House
• Open-deck lounge and Cafeteria
• 3 tier security
• Spa
• Banquet Area and Common hall
• Power backup and 24 hours water supply

The Builder
M3M is a reputed real estate developer in Gurgaon. The company has developed residential, commercial, hospitality, retail, education and IT/SEZ projects. M3M construction had won the `Realty Plus Excellence Awards' for 2012 and the `Best Upcoming Golfing Lifestyle Residences in India' award from the Federation of Indo-Americans.

How to Reach?
The project is located in Sector-68, Gurgaon. The project site can be reached through the road that connects Sohna and SPR, but the construction of this road is still underway. As of now, to reach the project site, you should turn toward the Sohna Gurgaon Road from the Golf Course Extension Road while intersecting Aklimpur Teekli Road.

Location Advantages
M3M Marina will be located at the intersection of the Golf Course Extension Road and the Sohna Road which connects it to major corporate hubs, retail stores and the Metro station. It is also in close proximity with major hospitals like Medanta Medicity and Artemis Hospital, and reputed educational institutions such as the Pathways World School. The project is a 40 minute drive from the IGI Airport.

Infrastructure
The infrastructure in Gurgaon is quite poor. Sector-68 is no different. But, the social infrastructure in the locality is quite good. Prominent malls, hospitals and schools are in its vicinity.

Pricing
M3M Marina offers apartments at a price of Rs 6800 per sq ft. The apartment units are likely to be delivered in the next four years. Though the price is reasonable when compared to the average prices (Rs 6,842 per sq ft) in Sector-68, similar projects in the neighborhood are cheaper. For instance, Olive Spire offers apartments at Rs 5,500 per sq ft and Pareena's new launch offers apartments at Rs 6050 per sq ft. It might be the brand name of M3M, which makes the project command a premium price at the pre launch stage.

Overall Ratings
PropTiger.com rates the project on various parameters:

Our View
If the builder's reputation and luxurious amenities matter a lot to you, then M3M Marina could be the right choice for you. But overall, the project fits the investors more than end users because it will not materialize very soon. Also, the infrastructure in the locality is not fully functional yet.

The property prices have appreciated 4.1 percent (according to research from the PropTiger Data Labs) in the past four months for people who have invested in the project. The real estate market in Gurgaon is also likely to recover soon. So, investing in the project is likely to yield good returns in the near future.

To know more about M3M Marina, visit PropTiger.com.