Project Review : The M3M 65th Avenue is situated in the sector 65, Gurgaon/Gurugram. This project is under developing by the M3M India Private Limited. The M3M 65th Avenue consists of commercial retail shops. Commercial office spaces, Food courts, 10 screen multiplex and entertainment facilities etc.
Possession | Construction Update
The M3M 65th Avenue project is under construction. The new revised promised date of delivery/possession is in the year of June 2024. The previously promised date of delivery was in the year of December-2019.
As per Location
The M3M 65th Avenue is located in the sector -65, Golf Course Extension Road, Gurgaon. It’s a two side open corner plot. Both sides are wide roads. The project is properly visible to maximum passers from the Golf course extension road and adjoins main roads. The M3M 65th Avenue is surrounded by several urban rich ready to move residential societies. So can say that the M3M 65th Avenue is an excellent location project.
Drawbacks | Bad Factors
The Sector 61, 62, 65 and 66, is already cross the limit of commercial property development. Actually, there is no need for new commercial projects in this location i.e. Golf Course Extension Road.
That the M3M 65th Avenue, location is prime but in this prime location several other prime locations ready to move and under construction commercial/retail/office space/Mall type properties are exist like The M3M Cosmopolitan, The M3M Urbana, Emaar MGF The Palm Square, Emaar MGF Digital Greens, Emaar MGF Emrald Plaza, The Suncity Success Tower, Pioneer Urban Square, Spaze Buziness Park, Splendor Trade Tower and under construction M3M Tee Point, M3M City Hub, M3M Financial Centre, M3M Urbana Premium, M3M Marconi, AIPL Joy Street, AIPL Joy Central, Elan Town Centre, Imperia Mind Space, Emmar MGF Colonnade,Banni The One, The Landmark Walkway 66, Era Casa Pisasso, Suncity The Summit, Pioneer Hi Street, Bharti Worldmark and the Splendor Epitome Work n Stay etc.
All above-said projects are within the one kilo Meter radius. And all these projects have same types of products. All are commercial/retail/office space/serviced apartments/studio apartments/Mall type properties. All these commercial properties/projects are creating investment competition at this location.
There is a big gap in demand and supply. The supply is very high in comparison to demand for this same type of commercial projects/properties in this location.
So in future and in present time, investors are facing problems in leasing and selling their commercial properties in all above said commercial projects.
Now the question is that, what’s the logic behind all these oversupply commercial? Is there any limit? Actually, there is no proper planning and re-planning for commercial development by the concern development authorities Of Haryana government (GMDA)/HUDA.
How much commercial property is needed and when it is needed, Haryana Government has no planning. And the innocent people trapped in the name of investment and growth. Actually, it’s a System failure and we all are the victims of this pre-planned cheating.
The Maximum Mall or Mall type properties are not the good and safe investment options in the Gurugram and Delhi area. The maximum investors who invested in Mall type properties are in 99% loss.
Actually, only a few Malls is running fine in Gurugram and Delhi area like The Ambience Mall, The DLF Mega Mall, The MGF Metropolitan Mall, and The Select City Walk, Saket, New Delhi etc otherwise all other Mall type properties are the investment of 99% loss.
The construction and possession of this kind of project depend on the sale of shops/space, so the project may be the delay.
The M3M Group has a good market reputation in the real estate industry. M3M is a big name in Gurgaon real estate market. He has successfully handover several residential and commercial projects in the Gurugram (Gurgaon) and Delhi.
The prices won’t very much hike at least for a couple of years because of the huge unsold commercial property on the Golf Course Extension Road, Gurugram.
For a small investor, it’s better to go for small residential sector markets and visible/pickup road facing ground floor retail commercial shops in a high-density residential area. If anyone wants to invest in the Golf Course Extension Road commercial properties we advice prefer ready to move projects.
The M3M 65th Avenue commercial complex is best suited if you are willing to hold onto a longer term for returns as the real estate market will take more time to appreciate in the locality. As for the location of the property is concerned it is a prime locality with all required amenities located within 2-3 km. And this is subjected to the market appreciation and there is no chance to early growth in the near future.
It is probably not the right choice of investment for those who are looking for ROI in the next year or so. Given the doubts of early market appreciation, there may not be a real appreciation of value for resale in a year. In fact, investors who are trying to make a sale of their property in M3M 65th Avenue are now struggling to reach their initial investment. Despite having brought their prices down, there aren’t any takers to buy these properties.
These days the developer of the M3M 65th Avenue, offering many attractive schemes to customers to invest in this property, like the 12% assured return, lease guaranty, and the 50% – 50% payment plans etc.
Basically, the assured return & lease guaranty is nothing, the real estate developers sell their low money property at a very higher price and return your hard earned money in the name of the assured return & monthly rent to you in the form of EMI. Actually, they are making you fool.
Actually, the assured return plan is a trick of fundraising. The Real estate developer sells its non-salable property with a greedy payment plan on a very higher price, to innocent customers in the name of assured return & lease guaranty. They are making you fool.
If you are an investor and have money in your bank/pocket to buy and if you rely on brokers then every project is selling fast. However, things get change drastically when you go to the market to sell anything or even the same property you bought thinking there is the huge demand for it, the same broker tells you, sir, there is huge downfall and no buyer is in the market or tells you a rate you won’t afford to sell and bear huge loss.
Moral of the paragraph is that don’t believe the builders marketing hype, do your own research or take help of an expert.
Advantages | Good Factors
As we Analyze that the location and layout design of the M3M 65th Avenue is very impressive. This project has a wide frontage, and properly visible from the Golf Course Extension Road and other connecting roads of the sector 65 Gurugram. The M3M 65th Avenue is surrounded with ready to move residential societies like the M3M Golf Estate, the M3M Merlin, the Emaar MGF Township, the Nirvana Country, the Ansal Esencia etc. Which is a very good sign for commercial property investment.
The ground floor commercial retail shop of this project is properly visible and looks like the high street open market, especially the road facing retail shop, so the investment in the ground floor commercial retail shops can give excellent returns in future.
There are more than 5 thousand flats in the sector 65 and more than 20 thousand urban rich residential populations, which is also a very good sign for the M3M 65th Avenue commercial property investment.
The M3M 65th Avenue is very well connected to the multiple public transportation facilities and other civic facilities. The project is also very well connected to the residential sectors like 49, 50, 66, 65 and 61, which is also another good sign for commercial property investment i.e. M3M 65th Avenue.
The layout design of commercial office space is also very impressive. The office space is well furnished and designed to cater every business.
There is proper parking space for stakeholders and visiting guests. The M3M 65th Avenue is GMDA (Gurugram Metropolitan Development Authority) approved, so there is no legal hassle in this project.
Price | Lease Price
Right now the retail shops are available in the M3M 65th Avenue at the price INR Rs 30K per sq ft on the lower ground floor, INR Rs 26K per sq ft on the upper ground floor and INR Rs 16K per sq ft on the first floor plus other charges. The price is already on the higher side for investment and there are not very much scope for early growth.
These days developer M3M 65th Avenue commercial project offering buyers so many interesting payments plans to invest in this project/property, Retail Commercial Shops, like the 12% assured return, and the PLP payment plans etc.
That builder/project who offers this kind of investment offers is not in the category of secure investment. As our experience most assured return and lease guaranty properties are an investment of loss.
The investment in the M3M 65th Avenue will take a very long time to grow. Our advice, at present, investment in this project may be risky.
NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH ASLO.