M3M plans to invest in a retail project in Gurgaon

20 Sep 2022 , 08:35 AM

For the development of 4.87 lakh square feet of retail space in Gurugram, real estate developer M3M would invest Rs130 crore.

The project is expected to bring in Rs1,000 crore in revenue for the company.

The “M3M Route65” project is located in Gurugram’s sector 65, adjacent to the Worldmark. spanning four acres.

According to Pankaj Bansal, Director of M3M India, who talked to ET, “We are fairly aggressive in our retail portfolio and have so far delivered over 5 million square feet of retail space in Gurugram alone.”

The four-story “M3M Route65” building has 727 units that range in size from 170 to 4800 square feet. There is also plenty of parking available in the basement.

One of the most dynamic industries in India is retail, which accounts for 8% of employment and 10% of the country’s GDP. India is the fifth-largest international retail market in the world.

One of the biggest players in Indian real estate, M3M India, has completed over 40 projects, including luxury residences, shops, offices, service apartments, and plotted subdivisions. The total amount of space owned by the corporation is around 28 million square feet.

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