M3M India targets Rs 5,000 cr revenue from 333-acre township in Haryana

Realty firm M3M India on Wednesday said it is targeting 5,000 crore in revenue from its 333-acre township in Panipat.

In a statement, the company said it has received the license to develop the 'M3M City of Dreams' township at Panipat in Haryana.

The company has already sold over 700 plots -- worth about Rs 1,100 crore -- out of 2,100 plots, M3M said.

M3M is expecting a topline of Rs 5,000 crore from this project.

The company has received RERA registration for the entire 333-acre land parcel that it had acquired from Ambience for Rs 1,500 crore, including necessary government fees.

"The company is investing Rs 1,200 crore, towards its development," M3M said, adding that the total cost, including land price, would touch Rs 2,700 crore.

Gurugram-based M3M aims to deliver this project in the next 15-18 months.

Godrej eyes Rs 3,000 cr revenue from Gurugram project

Realty firm Godrej Properties will soon launch a luxury housing project in Gurugram with an estimated revenue potential of around Rs 3,000 crore as it seeks to encash a rise in demand for premium residential properties.
 

The company will develop nearly 750 apartments in a 9.5-acre housing project 'Godrej Aristocrat' located at Sector 49 in Gurugram. The starting price is around Rs 4 crore per unit.

According to real estate consultants, Godrej Properties has started seeking expressions of interest (EOI) from potential homebuyers and already received more than 1,200 EOIs.
 

Market sources said the company is expecting to generate revenue of around Rs 3,000 crore from this project.