M3M Continues to Transform the Very Contours of the Indian Real Estate Space
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by Axiom Landbase
- February 20, 2019
- Market Updates
- 0
The group recorded sales close to a whopping Rs. 3700 crores during the last financial year 2017-18 making it one of India’s top 3 real estate developers.
The Indian real estate sector is poised to grow in 2019. The sector witnessed the major transformation in the last couple of years with government initiatives. The implementation of RERA, GST and FDI has infused much more transparency in the sector. This has resulted in strengthening consumer and investor sentiments. With the significant rise in the sale of the residential property as well as incorporate leasing, 2018 has been a great year for the Indian real estate sector. In India, many new projects were launched in 2018 with unsold inventory got liquidated. The luxury residential emerged as the centre stage in the year.
2018 was the year when many Indian developers have partnered with global realty and have delivered projects which are of the global standard. One such example is M3M.
The Group has partnered up with global realty, architecture and consulting firms such as L&T, UHA (UK), RSP (Singapore) and Golf Plan (USA) all through its developmental and growth years. The Group has also partnered up with Global Construction Management Company Mace for its recent project M3M 65th Avenue. Mr. Pankaj Bansal has been instrumental in the Group signing some path-breaking deals such as DLF Group in 2012 worth Rs. 440 crore, Shapoorji Pallonji and Co. Ltd. in 2014 worth Rs. 116 crore, Sahara Group in 2016 worth Rs. 1211 crore and Tata Realty and Infrastructure Ltd. and Standard Chartered Private Equity worth Rs. 500 crore. With a host of ambitious projects rapidly taking shape, today M3M stands at the threshold of bringing in more landmarks and more innovative concepts of home, retail and business.
As one of India’s top 3 real estate developers, M3M has changed the very contours of the Indian real estate space. Established in 2010, the young organization has taken giant strides in a short span of time. The Group sold close to 2,000 units, approx. 3,00,000 sq. mtr. of area.
The recent rate cut by the RBI will give a boost to the economy by providing affordable credit to small businesses and homebuyers.
With all the above factors 2019 will bring good news for the real estate sector.
Source : News18
