Two land parcels in Gurgaon acquired by M3M India for Rs. 670 crores from HSVP

 

In an auction held by Haryana Shahari Vikas Prabhakaran (HSVP), Realty developer M3M India group acquired two land parcels of 3 acres and 1.3 acre each, located in the prime spot of Gurgaon, for a grand total of Rs. 670 crores.

Planning to invest about 400 crores in these projects, M3M will construct a Retail and office complex of about 6,00,000 sq. ft on the 3-acre posh land situated near the Golf Course Road, and the 1.3-acre parcel near MG Road will emerge as retail complex of 1,80,000 sq. ft.

Mr. Pankaj Bansal M3M, the Director of M3M developer group, announced the top line for both the land parcels being Rs. 2000 crore and Rs. 650 crores respectively. M3M group is looking to acquire more such lucrative land parcels in government auctions. The developer’s special emphasis on retail projects were clear when last year it bought two land parcels, situated in Sector 57, to establish a 8,00,000 sq. ft of retail space and also has delivered 3.9 mil sq. ft of retail space around Golf course Road (ext.) till date, making it one of the biggest retail spot developers in Gurgaon.

As told by the Director, 200 leading brands are connected with M3M India, who dedicated such a feat to the group’s timely delivery of its projects. The developers have delivered around 39 projects in a decade. Surging sales as of Rs. 6100 crores have been reported by group last financial year expecting it to rocket to about Rs. 10,000 crores in FY 23.

M3M India will be delivering several residential, retail and office spaces this year as well as acquire new plots in prime Gurgaon, as said by Director Bansal.