M3M to invest close to ₹1200 crore for a luxury project in Gurugram

Gurugram-based real estate developer M3M Group has launched an uber luxury project on Golf Course Road Extension for which it will be investing close to ₹1200 crore, the company said in a statement.

The 4-acre project is part of the 60-acre M3M Golf Estate and has a revenue potential of ₹4,000 crore.

The project to be called M3M Altitude will have a revenue potential of ₹4000 crore, the company said.

The project is being designed by globally-renowned architects from London, Uptown Hansen Architects (UHA).

Also Read: Gurugram real estate news: TCG Real Estate secures funding of ₹714 cr from SBI for World Trade Center project

The development cost of the project is ₹1200 crores. There will be 350 homes, with prices ranging from ₹10 crore to ₹30 crores. It will be delivered by 2031, the company said.

Also Read: Emaar India plans to invest a billion dollars over the next 4 to 5 years to develop real estate projects in the country

“In recent years, GCRE has emerged as Gurgaon’s ultimate destination for luxury residences, catalyzing a surge in demand and substantial annual price appreciation,” said Sudeep Bhatt, President, M3M India.

M3M Altitude Landscape is being designed by the Oracle Landscape. It will comprise 4 bhk (plus a servant room) and penthouses ranging from 3780 sq ft to 8000 sq ft.

Also Read: IKEA partners with Rhenus to set up warehouse in Delhi-NCR near Gurugram

The project will also have the tallest sky club in Gurugram measuring around 2 million sq ft, the company said.