M3M India to Invest Rs 1,200-1500cr in Next 3yrs in Gurugram Housing Project

Realty firm M3M India on Wednesday said it will invest Rs 1,200-1,500 crore over the next three years to develop a luxury housing project in Gurugram.

M3M India has launched luxury golf residential project ‘M3M Capital’ at Sector 113, Gurugram, a company statement said.

M3M India also claimed that it has already sold Rs 800 crore worth inventories on the first 3-days of its launch. In the first phase, M3M India has launched five residential towers, comprising 644 apartments. The prices start from Rs 1.5 crore.

“Our M3M Capital luxury golf residential project is a state-of-the-art project in northern India with a topline of Rs 4,000 crore with development cost of about Rs 1,200 to Rs 1,500 crore, to be invested in next 24 to 30 months,” said Pankaj Bansal, Director – M3M India.

The company, is one of the leading real estate developers in Delhi-NCR, has developed around 20 million square feet area. It is currently building many projects including Trump Towers.

Source : The Print