The North India’s No. 1 real estate developer, M3M Group is ruling the land of Haryana by consistently launching real estate projects over and over again. Yet again Delhi NCR’S leading realty firm, M3M India Ltd has acquired 25 acres of land in Gurugram, Haryana for developing housing project worth ₹250 crore. The land for this residential development is located on Golf Course Extension Road, Gurugram.
It is estimated that the real estate giant has bought land from a builder with the deal closing value of ₹250 crore. Though name of the seller is not known to the sources as when relevant authority of M3M India was contacted, he declined to comment on that.
Generally whenever some housing or commercial projects in Gurgaon, the real estate developers form joint venture with landowners for the development. The absolute land acquisition is seen very rare as it requires huge capital for acquiring a large piece of land.
The great news coming out from M3M India is that the developer is looking for land parcels in Delhi-NCR for future real estate development. The realty firm already owns more than 2,000 acres of land parcel in Gurgaon.
Let’s quick have a sneak peek into the past real estate deals that the developer was involved in.
M3M Group had bought 185-acre land from Sahara group in Gurugram for ₹1,211 crore about a few years ago.
In July month, M3M India again raised ₹570 crore debt from Oaktree Capital Management in order to gather funding for its ongoing projects.
The M3M group’s current debt standing is 1,800 crore. Highly acclaimed for developing world class commercial and residential projects, M3M India is soon going to rule all over India with top notch realty masterpieces built in every nook of the country.
M3M Gurgaon has already accomplished 20 real estate projects in the Delhi-NCR market and around 15 projects are under development phase. The company’s most talked about development in Gurgaon is the development of Trump Tower.