M3M group plans to invest Rs 45,365 cr in Haryana

Realty firm M3M group today pledged to invest Rs 45,365 crore in Haryana over the next 5-10 years in different projects such as smart city, low-cost homes, IT Park, SEZ and others.
M3M India signed three MoUs (memorandum of understanding) with the Haryana government at the 'Happening Haryana Global Investors Summit'.
The Gurgaon-based developer signed three MOUs accumulating to Rs 45,365 crore, a company statement said.
"Investments are proposed over a period of 5-10 years in and across Haryana/Gurgaon," it added.
The MOUs were signed by company's CMD Basant Bansal in the presence of Haryana Chief Minister Manohar Lal Khattar.

Out of the proposed investment of over Rs 45,000 crore, M3M said that Rs 26,000 crore would be for the development of a smart city project in Gurgaon.

Another Rs 9000 crore is proposed to be invested on the development of low-income housing projects. The projects will have smaller size apartments and would be in the range of 30 to 60 square metres.
M3M is also foraying into development of IT park and IT SEZ planned to be developed at the cost of Rs 2000 crore.
The company would invest another Rs 8,000 crore on the development of other real-estate projects.