As said by Director of M3M, Mr. Pankaj Bansal, the realty developer recently acquired two land parcels for a total of Rs. 670 crores, in an auction held by Haryana Shahari Vikas Prabhakaran (HSVP). The land parcels are located in the prime of Gurugram.

The land parcel measuring around 3 acres, situated next to the Golf course road will be turned into a retail and office complex of 6,00,000 square feet. The second plot which is of 1.3 acres emplaced along the MG road will be established into retail complex of 1,80,000 square feet.

The M3M plans to have multifold retail complexes in Gurugram for which the realtor is seeking to procure more land parcels in forthcoming government auction, as said by Director, Mr. Pankaj Bansal. He also affirmed that construction of projects on these two land parcels will start this year, in which the group will invest about Rs. 400 crores.

Mr. Bansal announced the top line of Golf Course Road project to be about Rs. 2000 crores, meanwhile that of MG Road project will be Rs. 650 crores. Both the plots are in Sector 57, situated on the main road where the developer will construct high-streets as demand for an open market has amplified. M3M group is seeking to buy more land parcels, centring focus on retail projects.

The developer had acquired two land parcels last year, in Gurugram’s sector 57, where it aspires to develop a retail space of 8,00,000 square feet by investing Rs.530 crore.

MRM India has rendered 3.9 million square feet of retail space at Golf Course Road (extn.) till the present day, making the group the largest retail space developer in Gurugram.

Director Mr. Bansal said that more than 200 companies are affiliated to M3M group the reason being the timely delivery of projects which makes the assessment done by investors and buyers effortless.

The real estate company recounted for a surging Rs. 6,100 crores in sales in FY2022 which is anticipated to rocket to Rs. 10,000 core this year, while delivering 39 projects in a decade.

M3M group will be inaugurating several retail, residential and office spaces this year and also attain fresh plots in prime location of Gurugram, as said by Mr. Bansal.

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Resource: https://realty.economictimes.indiatimes.com/news/industry/m3m-acquires-two-land-parcels-in-gurugram-for-rs-670-crore-from-hsvp/91952185