M3M India bought 13-acre land in Noida for their upcoming project through e-auctions. They are planning to invest around 2400 crores for mixed-use development as qouted by, Mr. Pankaj Bansal director of M3M India.
Mr. Bansal told PTI, “They secured around 52,000 square metre plot in Sector 94 through e-auction conducted by Authority of Noida. This will be used to enter into the Noida Market.”
Around 827.41 crores had been spent to purchase the land and the total acquisition would cost around 1,200 crores which includes lease rent and registration charges.
This mixed-use development will be comprised of housing, retail, and serviced apartments. It is targeted to be launch in February-March of the upcoming year.
Mr.Bansal told that the company is planning to acquire more land parcels in the Noida-Greater Noida.