M3M India to invest ₹7,200 cr to build 150-acre township in Gurugram

Don't want to miss the best from Business Standard?

Realty firm M3M India on Wednesday said it will invest Rs 7,200 crore to develop a 150-acre integrated township in Gurugram as part of its expansion plan.

In a statement, the company said it has launched the township project 'Gurgaon International City' (GIC), spread across 150 acres.

"The company will invest about Rs 7,200 crore in the development, which is expected to generate a topline of around Rs 12,000 crore," M3M said.

The upcoming project, located on the Dwarka Expressway Link Road, will have data centres, innovation parks, electric vehicle (EV) hubs, retail avenues, and premium residential zones.

The aim is to attract global corporations, such as Google, Apple, Microsoft and Tesla, that represent the future of innovation and responsible growth, Pankaj Bansal, Promoter, M3M India, said.

The first phase of the project, spanning 50 acres and already RERA-approved, will include 300 plots.

Planned as a low-emission, clean industry hub, the project will host non-polluting industrial units, advanced manufacturing facilities, and technology-driven businesses.

The company has a portfolio of 62 projects, including 40 completed developments spanning more than 20 million sq ft.

M3M India has developed a 'Trump Tower' project in Gurugram.