Real estate companyM3M spent INR 200 crore via e-bidding held by Haryana Shahari Vikas Pradhikaran, for a 1.3 acre land parcel in Gurgaon’s Sector 25. In terms of price per acre, it is one of the most expensive land acquisitions, with a price tag similar to that of Lutyens’ Delhi.
M3M Project in Gurgaon
The proposed project envisages the development of 3,00,000 sq.ft. of retail and office space with an additional investment of INR 250 crore.
The project, with an estimated revenue of INR 1,000 crore, will include a mix of offices, multiplexes, and retail space. There will be anchor stores, a hypermarket, restaurants, a four-screen movie theatre, and offices with amenities and services.
The developers have already acquired two land parcels in Gurgaon’s Sector 57, where they plan to build 800,000 sq. ft. of retail space for a cost of INR 530 crore.
In a recent government auction, M3M paid INR 827 crore for a 13-acre plot of land in Noida. This will be the first venture of the company in Noida.
M3M will shortly develop another 2 million sq.ft. of retail and commercial space in Gurgaon. The M3M company has 3,000 acres of land bank and has recently acquired 600 acres of land.
About:
M3M is India’s Leading Real Estate Company with a reputation for identifying emerging real estate markets. They recognize aspirations in lifestyle evolution, perfecting the modulations of luxury. In less than a decade, compan has emerged as an illustrious real estate developer with speed, class and innovation.
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