M3M in Rs. 1211 cr. Land Transaction

One of the biggest Real Estate transactions in recent history in Delhi/NCR

Gurgaon, Haryana, December 9, 2014 /India PRwire/ -- M3M India Pvt. Ltd. one of India's reputed Real Estate developers bought over the 185 acres of land in Delhi NCR from the Sahara Group. The premium land parcel of 185 acres is located in Sec-111 & 113 in Gurgaon. Ideal position of being on the either side of the Dwarka Expressway next to the Indira Gandhi International Airport and the adjoining the Diplomatic Enclave in (new location for all the Embassies) New Delhi. This land is a much sought after prizes in Delhi NCR.

Pankaj Bansal, Director M3M India "We are indeed delighted with the acquisition. We intend to create a mixed use development consisting of branded residencies, branded service apartments, multiplexes, hotels, offices, entertainment centers and other smart city type of development. We will also have international medical, educational and sports facilities in this area."

The source of funds is stated to be from Internal Accruals, strategic partners and corporate investors including P.E Funds.

The total project will be having a built-up area of 12million sq.ft with a value of Rs. 12,000cr. Though the first parcel of land to be developed into a mixed use development consisting of internationally branded residencies, condominiums, service apartments as well as techno commercial retail spaces with multiplex entertainment zones on 30 acres with a built-up area of 4 to 5 million sq.ft and valued at Rs. 5000 cr.

"The future is here. If we have to fulfill our Prime Minister Narendra Modi's dreams, then this new venture by M3M, will certainly go a long way to achieve this goal. We are confident of developing 'Smart Cities' in line with the government of India policies. The future is looking really bright" Basant Bansal Chairman of the M3M Group.

Notes to Editor

About the M3M Group of India:

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.

M3M has embarked upon 39 projects in Haryana. M3M Golf Estate, the 75 acre uber luxury resort-like residential complex is an example of it venture. This project has won many accolades and awards the world over at Dubai, London and San Francisco. Recently it won the award for the Best Luxury Project in India from NAREDCO, a Govt. of India patronized organization. The group is known for its philanthropist activities in uplifting the weaker sections of our society. M3M is also known to back healthy and clean living by promoting sports and games for the youth. The recent Polo tournaments were sponsored by the company.

M3M is an ardent supporter of all government initiatives. The company directors were part of the recent business delegation to Japan along with the PM and also accompanied the President of India, His Excellency Shri Pranab Mukherjee, to Finland and Norway.

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