4,000 crore from M3M India's luxury housing project in Gurugram


Realty firm M3M India expects revenues of around Rs 4,000 crore from its new luxury housing project in Gurugram. The company has launched a new residential project 'M3M Altitude' on Golf Course Extension Road in Gurugram, where it will build 350 luxury apartments.

M3M will invest Rs 1,200 crore to develop this four-acre project, while the estimated sales revenue is around Rs 4,000 crore.

The company is selling apartments priced between Rs 10 crore and Rs 30 crore.

In a statement on Saturday, the company said it has already sold around 180 units for Rs 1,875 crore.

Sudeep Bhatt, President, M3M Group, said: “Since the unveiling of M3M Altitude, we have seen a huge influx of inquiries and interest from home buyers.”

This four-acre project is part of the 60-acre M3M Golf Estate Township.

According to real estate data analytics firm PropEquity, house sales in Delhi NCR rose to 10,198 units during April-June this year from 9,635 units in the year-ago period.

The Gurugram housing market has seen strong housing sales in projects from several developers including DLF, Signature Global, and M3M.

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