Saturday, 04 July 2020
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M3M India acquire 185 acres in gurgaon

M3M India Accelerates Land Acquisition from Sahara Group with an Advance Fund of Rs 300 crore

Delhi, M3M India, a leading ultra-luxury real estate developer has made the unprecedented move of paying a whopping Rs 300 crore in advance to Sahara Group in order to close the deal of Rs 1221 crore on a premium land parcel in Gurgaon. The move shows the real estate giant’s earnest desire to develop the land into a Smart City within a short span of time. This demonstrates M3M’s confidence and desire to obtain and go-ahead with the development.

Real estate developers has made this investment following the land transaction worth Rs.1221 crore that it had sealed with Sahara Group for 185 acres of land in Delhi NCR region. This land is to be utilized for the development of branded residencies, branded service apartments, multiplexes, hotels, offices, entertainment centers and other smart city features.

Mr. Pankaj Bansal, Director-M3M India said, “Every deal we enter into is a matter of great importance for us. We are eager to close the deal with Sahara Group so that we can kick start the developmental work of the Gurgaon land; hence we opted to make the advance payment. This is a testament to the fact that we are constantly endeavoring to make remarkable contributions to the real-estate industry and construct uber-smart cities for our patrons.”

M3M Group is one of India's premiere business conglomerates with interests in Real Estate (Residential / Commercial / Retail), Hospitality, Education and IT / SEZs. The land bank exceeds 2000 acres of prime land with 11 million sq. ft. of built up space. The organization has already invested over US $ 500 million in developing many iconic projects in North India. The projected business value of the organization exceeds US $ 5 billion.

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