M3M India Pledges ₹1200 Crore for Massive 333-Acre Township in Haryana

M3M

On December 13, M3M India, a real estate developer based in Delhi-NCR, revealed its plans to invest a whopping ₹1200 crore in crafting a sprawling 333-acre township in Panipat, Haryana.

The company aims to rake in ₹5000 crore in revenue from this ambitious project. M3M India, having obtained the license for the M3M City of Dreams township, disclosed that a significant portion of the 2100 plots available for development has already been sold. These plots, collectively valued at around Rs. 1100 crore, have garnered substantial interest. “M3M is expecting a topline of ₹5000 crore from this project,” stated the company in a communication.

The diverse project is set to include over 2100 plots, ranging from 140 to 1000 square yards. The development will feature 400 expandable villas, 3000 uber-luxury floors, and 150 farmhouses, according to M3M India. Securing RERA registration for the entire 333-acre land parcel, acquired from Ambience for ₹1,500 crore, M3M emphasized an investment of ₹1,200 crore specifically for development.

The total expenditure, encompassing the land price and associated government fees, is anticipated to reach ₹2,700 crore. M3M India is on track to deliver the project within the next 15-18 months. The township is anticipated to evolve into a vibrant hub for industries, startups, unicorns, and renowned national and international brands seeking quality space, the company asserted.

In related news, the Haryana government has introduced measures to streamline property registrations, providing further impetus to real estate developments in the region. Stay tuned for more updates on HT Channel’s Facebook page. Join now to stay informed about the latest developments.

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