The real estate sector has witnessed a significant growth in both the residential as well as commercial sector in the year 2021-22. According to IBEF report, the real estate sector is expected to contribute a significant 13% to India’s GDP by 2025 and the market is also expected to grow from Rs 12,000 crore in 2019 to Rs 65,000 crores by 2040. No denying, real estate sector – particularly residential sector, has made a remarkable comeback post pandemic, and investors are looking aggressively to invest in the sector.
The CRISIL report has also stated that the momentum in housing demand across India’s top six cities is expected to continue this fiscal too with an uptick of 5-10%, despite rising property prices, interest rates, and a high base effect.
The growth rate in real estate sector was also highlighted up by the Finance Minister in her budget speech and also indicated that the urban planning will be in utmost focus, as nearly half of the country’s population is expected to be living in cities by 2047, when India will celebrate 100 years of its Independence.
There are a number of metropolitan cities, including Gurugram, Noida, Ghaziabad, etc. who have witnessed a growth of about 96% in housing sales and an increase of 24% in new projects and the launches.
In the current scenario, Gurugram is likely to dominate the real estate market in Delhi-NCR. Since Delhi is on the verge of pressure to accommodate both residential as well as commercial requirements, Gurugram has been emerging as the most sought after destination for the homebuyers lately.
M3M India is a leading player in retail, residential and commercial projects, and has about 40 projects to his credit in Gurugram itself. M3Ms iconic projects M3M Golfestate and Trump Towers Delhi NCR in Gurugram, have become the testimonies of the standard of development Gurugram has been witnessing in realty. M3M Golfestate – the 56 acre uber-luxury resort like residential complex, is a state-of-the-art architecture and has won a number of prestigious awards for being one of the Best Luxury Projects in India and abroad.
Keeping up to its reputation of timely delivery of all its projects, the Company launched 27 projects prior 2018 and 25 projects have already been delivered. The construction in remaining two projects, the iconic Trump Towers and M3M Heights, is in full swing and these projects are expected to be completed soon.
To its credit, the five new projects launched my M3M India post 2018, including M3M Marina, M3M Prive and M3M Natura have already been delivered successfully to the customers. Further, the construction is in full swing in 5 newly launched projects including M3M Soulitude, M3M Capital and M3M Atrium57. In fact, ‘M3M Soulitude’ (residential), has already been completely sold out.
Recently, the company has also come up with the new luxury golf residential project, ‘M3M Capital’, in sector 113, Gurugram right on the Dwarka Expressway. Having close proximity to Aerocity and Delhi International Airport, M3M Capital is a part of larger vision for Smart City Delhi Airport.
Realising the dire need to develop NPR and SPR, Pankaj Bansal- Director, M3M India explains, “There are a number of land parcels lying vacant at strategic locations. These land parcels need to be developed in the form of residential as well as commercial spaces to cater to the needs of prospective buyers, and no doubt non-utilisation of these land parcels have also kept Delhi away from Gurugram, and vice versa. M3M India’s newly launched project ‘M3M Capital’ at Sector 113, Gurugram- Dwarka Expressway, aptly relates to the beginning of utilisation of such large land parcels.”
M3M India, with the strength of about 40 projects, comprising 4 million square feet of retail space and 20 million square feet of overall space, has set up its own benchmark in real estate sector.
With a prime land bank of 2400 acres, M3M India has established itself as one of the largest real estate conglomerates across the country.
M3M Foundation – The Philanthropic arm of M3M India
M3M Foundation, a social and philanthropic arm of M3M India was established in the year 2019 with a vision to empower communities by creating multiple opportunities for the underprivileged. M3M Foundation fulfils its obligations to society through the various initiatives such as iMPower, Kartavya, Kaushal Sambhal, Lakshaya, Mashaal Fellowship, Saakshar, Sankalp, Sarvodaya, and Vaatsalya.
In a recently launched programme ‘Lakshaya’, M3M Foundation has provided scholarships to Indian players who have excelled in the game but are unable to advance due to financial constraints. Infact, in a bid to create employment avenues for the local youth and women, M3M Foundation launched a skill training centre – iMpower Academy for Skills – on May 28 at Tauru block, Nuh district in Haryana and another centre in Badshahpur, Gurugram on 17th June. The iMpower Academy for Skills is an integral part of the foundation’s nationwide initiative “Kaushal Sambal” which aims at skilling 10,000 youth in various employable and entrepreneurial skills in the next three years. For this one-of-a kind project in Tauru, M3M Foundation has partnered with Paris-based international development organisation, Aide et Action, working in 19 countries across the globe, including India and Empower Foundation – an established not for profit organisation in India, working for skill development in Badshahpur, and many other partnerships are underway to achieve the set target.
Through these development programmes in education, healthcare, environment, sports, and social infrastructure, M3M Foundation aims to promote an overall development of a more humane and independent society in the future.
Source : TOI