Compare Listings

M3M buys 25-Acre Land on Gurugram Golf Course Extension Road for Housing Project

M3M buys 25-Acre Land on Gurugram Golf Course Extension Road for Housing Project

Realty firm M3M India Ltd has acquired 25 acres of land in Gurugram, Haryana for around ₹250 crore to develop housing project, according to sources.

The land is located on Golf Course Extension Road, Gurugram.

The sources said the company has bought land from a builder in an estimated deal size of ₹250 crore. The name of the seller could not be ascertained.

When contacted, M3M India spokesperson declined to comment.

Real estate developers generally form joint venture with landowners for the development of housing and commercial projects in Gurgaon. The outright land acquisition has become very rare, because of huge capital requirement.

M3M India, which owns more than 2,000 acres of land parcel in Gurugram, is looking for land parcels in Delhi-NCR for future development.

It had bought 185-acre land in Gurugram for ₹1,211 crore from Sahara group a few years ago.

In July, M3M raised ₹570 crore debt from Oaktree Capital Management to fund its ongoing projects.

The group’s current debt stands at around 1,800 crore.

It has completed nearly 20 real estate projects in the Delhi-NCR market and around 15 projects are under development.

The company is also developing the Trump Tower in Gurugram.

Source : LiveMint

img

Axiom Landbase

Related posts

Inauguration of Dwarka Expressway by PM Modi poised to uplift Gurugram’s property market

Prime Minister Narendra Modi has finally inaugurated the Haryana section of the Dwarka Expressway....

Continue reading
by Axiom Landbase

Chintels India Hands Over Two Land Parcels Valued at Rs 121.82 Crore near Dwarka Expressway to Sobha Group

Gurugram-based real estate developer Chintels India has also transferred the ownership of two land...

Continue reading
by Axiom Landbase

Gurugram Property Rates could see a potential 70% increase; here’s the reason why

The property process in Gurugram might see an unpredicted hike as a new collector rate has been...

Continue reading
by Axiom Landbase
Trehan-one-good-earth-gurgaon-new-popup-02-05-2024

ENQUIRE NOW