Year 2020 has been a year full of bad news from all around the world. After the pandemic intruding people’s health and life, it has left bad impact on almost every business. But fortunately there’s one and only real estate developer that claims, it had a good 2020 as it delivered 8 projects in 3 months becoming the only real estate developer to do so. As per the director of the M3M Gurgaon, Pankaj Bansal, the company clocked revenue of Rs. 4200 crore in last fiscal and expects 10 percent higher this year than the previous one.
Let’s quickly take you through M3M commercial projects in Gurgaon and M3M residential projects in Gurgaon to understand better the dynamics of this realtor. M3M Gurgaon properties are built over 2200acre of land with 4 crore sq ft developed and development area. Today, the group has successfully delivered 1.5 crore sq.ft of projects of which 15 projects are M3M residential projects in Gurgaon and 13 are M3M commercial projects in Gurgaon. Some of their ready to move residential offerings in Gurgaon include M3M Sierra 68, M3M Natura sector 68, M3M St. Andrews,M3M Polo suites,M3M sky suites, M3M woodshire, M3M Merlin, M3M Escala, M3M Fairway west, M3M Golf estate and more.
Here are some informational question and answers about the M3M Gurgaon group.
What has been the sale of M3M during Unlock phases?
M3M Group has recorded sales to the tune of Rs 1150 crore in July-August 2020 as part of company’s ‘Unlock Gurugram’ campaign. The comprehensive demand has been evenly distributed with both M3M residential projects in Gurgaon and M3M commercial projects in Gurgaon accounting for a 50% share. In the commercial sector (including offices, retail spaces and some service apartments), 15-20% of the demand generated from the delivered projects comprising high-street retail. Luckily, the residential segment has bounced back with the demand rising for under-construction properties too. Approximately 450 units have been sold in the M3M residential project segment with an average ticket size ranging between 85lakhs to Rs 1.5 crore.
How did the M3M residential projects in Gurgaon fared post the lockdown?
The demand for M3M residential projects in Gurgaon has been robust. The end-users accounted for a substantial share that generated primarily due to the held back demand in the past five months. Going by this momentum, M3M Group expectsits residential sales will surpass those of M3M commercial projects in Gurgaon by March 2021. All units of M3M Sierra Natura located on Sector 68, Golf Course Road (extension), have been sold out.
Approximately 750 out of a total of 1200 units have been sold out in M3M Heights SkyCity located in Sector 65, Golf Course Road (extension). The company is expecting to sell out the project completely by March 2021. The average unit size in these properties ranges from 1250 to 2450 sq ft.
How far the construction of project Trump Towers has reached? Does the change in US presidential power impact the project?
M3M group is dedicated to the timely delivery of Trump Towers. Until now, 14 floors out of 50 floors have already been constructed. The much awaited project is expected to be delivered by March 2023. You would be surprised to know that about 50 per cent of the project has already been sold out. People trust Trump association as an iconic brand, and the brand’s projects in Mumbai and Pune are already a hit. Buying behavior has not changed at all.
Has COVD-19 affected land acquisitions? Have the company acquired land recently for any of its projects?
M3M Gurgaon has acquired a parcel of land spanning 25 acres for 250 -crore deal from Ireo. M3M group was the highest bidder of approx. INR 1000 crores to acquire Vision Towers, an erstwhile project by Religare located along the Golf Course Road (extn).