Jan 23, 2025 11:22 PM IST
Gurugram-based M3M said that it acquired the plot under the Noida Authority’s auction scheme for ₹400 crore.
Delhi-NCR based M3M India has acquired a 24,000 sq m plot along the Noida Expressway under the Noida Authority’s auction scheme for ₹400 crore. This is the company’s third project in Noida, the company said in a statement on January 23.
M3M now has three projects in Noida with a cumulative investment of ₹9,000 crore, the company said.
The combined sales potential from these projects is projected to exceed ₹12,500 crore, the company said in a statement.
“Noida is rapidly establishing itself as a prominent destination for real estate development. We have fulfilled the commitments made during the Uttar Pradesh Global Investors Summit 2023 by making substantial investments, creating employment opportunities, enhancing lifestyles, and facilitating large-scale infrastructure development,” said Pankaj Bansal, M3M India.
Currently, M3M has nearly 6 million (60 lakh) square feet under construction in Noida, and with this latest acquisition, the company’s consolidated development footprint in the region will expand to 7.5 million (75 lakh) sq ft.
Additionally, the development will generate employment for approximately 15,000 individuals across various sectors, including contractors, suppliers, construction workforce, and logistics partners, further contributing to the local economy.
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