M3M Jewel Sector 25 Gurugram
M3M Jewel Real estate developer M3M has acquired a 1.3 acre land parcel for Rs 200 crore in Gurgaon’s sector-25 through e-bidding held by Haryana Shahari Vikas Pradhikaran, said director Pankaj Bansal.
M3M Jewel Gurgaon It is one of the costliest land acquisitions in terms of price per acre, with the cost of the land similar to that in Lutyens’ Delhi. The company will develop about 300,000 square feet of retail and office space with an additional investment of Rs 250 crore, Bansal told ET.
M3M Jewel Sector 25 Gurugram “Seeing the uptick in the retail segment, we look forward to developing a comprehensive luxury-boutique M3M Jewel retail strategy,” he said. “This grade A+ luxury retail development will house most premium global brands, which will add value to Millennium City. The project will be on a par with what we see in Lutyens’ Delhi. We have already received interest from prominent international brands.”
M3M Jewel Sector 25 Gurugram
M3M Jewel Gurgaon The project will be a mix of retail space, multiplexes, and offices, with a total expected revenue of Rs 1,000 crore, he said. It will have retail spaces, anchor stores, a hypermarket, food and drink places, a four-screen movie theatre, and offices with amenities and services.
M3M Jewel Earlier, the developer had acquired two land parcels in Gurgaon’s Sector 57, where it aims to develop 800,000 sq ft of retail space with an investment of Rs 530 crore.
M3M Jewel Sector 25 Gurugram The 1.5-acre and 3.5-acre plots in Sector 57 are on the main road, and the company will develop high-streets as demand for open markets has increased after the Covid-19 pandemic. “More than 200 prominent brands have already been associated with M3M India,” said Bansal. “Timely delivery of our projects makes it easier for customers and investors to assess their investments and the escalations.”
M3M Jewel Sector 25 Gurugram India has delivered 3.9 million sq ft of retail space till date at Golf Course Road (extension), making it the largest retail space developer in Gurgaon. The company will develop around 3 million sq ft, of which 40% will be residential and 60% commercial. The commercial component will include retail and serviced apartments. The project will cost Rs 2,400 crore, including the cost of land and stamp duty.
M3M Jewel Sector 25 Gurugram is also planning to launch another 2 million sq ft of retail-cum-office space soon in Gurgaon. The company has a land bank of 3,000 acres, of which 600 acres have been recently acquired.
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