M3M India to invest Rs 600 cr to build commercial project in Gurugram
Realty firm M3M India on Thursday said it will invest Rs 600 crore to develop a commercial project in Gurugram.
In a statement, the company said it has launched a commercial project, ‘M3M Capital Financial Center’.
M3M India said it will invest Rs 600 crore to build this project, which is spread across 1.42 acres, comprising 165 units, including 152 premium office spaces, 6 multiplex units and 7 retail units.
The project, located at Sector 113, Dwarka Expressway in Gurugram, is expected to be completed by 2029.
Gurugram-based M3M Group has two real estate companies - M3M India Pvt Ltd and Smartworld Developers Ltd. The Group develops residential, commercial and mixed-use projects in North India.
Earlier this month, M3M Group said it will invest Rs 10,000 crore this financial year on construction and land acquisition as part of its expansion plan.
“We are focusing on delivery of projects. At present, there is more than 30 million sq ft of area under construction across various projects,” M3M Group Promoter Pankaj Bansal had said.
He said the company is also actively acquiring land parcels to expand its business.
“We will continue to acquire land. We will participate in the upcoming land auctions in Noida,” Bansal had said, adding that the company would invest Rs 2,500 crore this fiscal on land banking.
