M3M India Acquires Noida Plot for Rs 400 Crore

New Delhi, Jan 23 (PTI) Realty firm M3M India has acquired a 24,000-square-metre plot in Noida for Rs 400 crore.

The company, in a statement on Thursday, said it has acquired the plot under the Noida Authority's auction scheme, with a winning bid of Rs 400 crore.

This strategic acquisition marks the company's third project in Noida.

Pankaj Bansal of M3M India, said, "Noida is rapidly establishing itself as a prominent destination for real estate development".

"We have fulfilled the commitments made during the Uttar Pradesh Global Investors Summit 2023 by making substantial investments, creating employment opportunities, enhancing lifestyles, and facilitating large-scale infrastructure development," Bansal said.

Currently, M3M has nearly 6 million (60 lakh) square feet under construction in Noida, and with this latest acquisition, the company's consolidated development footprint in the region will expand to 7.5 million (75 lakh) sq ft.