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Realty firm M3M India on Thursday said it will invest Rs 600 crore to develop a commercial project in Gurugram. In a statement, the company said it has launched a commercial project, 'M3M Capital Financial Center'. M3M India said it will invest Rs 600 crore to build this project, which is spread across 1.42 acres, comprising 165 units, including 152 premium office spaces, 6 multiplex units and 7 retail units. The project, located at Sector 113, Dwarka Expressway in Gurugram, is expected to be completed by 2029. Gurugram-based M3M Group has two real estate companies - M3M India Pvt Ltd and Smartworld Developers Ltd. The Group develops residential, commercial and mixed-use projects in North India. Earlier this month, M3M Group said it will invest Rs 10,000 crore this financial year on construction and land acquisition as part of its expansion plan. "We are focusing on delivery of projects. At present, there is more than 30 million sq ft of area under construction across various ...
Singapore-listed Thakral Corporation Limited has completed the acquisition of an additional 81.6-per cent stake in TIL Investments Private Limited for SGD 93.9 million, bringing its total ownership in the 21-acre Gurugram mixed-use healthcare-led development to 95.3 per cent. The acquisition, completed through Thakral's wholly-owned subsidiary, Paramount Investments Pte Limited (PIPL), follows shareholders' approval at the Extraordinary General Meeting held on April 30. It was announced on Thursday. The increased ownership gives Thakral full strategic control over the 21-acre site with development potential of more than 2.5 million sq. ft in New Gurugram, one of India's leading real estate markets. Gurugram is the primary office hub within Delhi-NCR, accounting for 62 per cent of total office leasing in the region, and is a preferred destination for multinational and Fortune 500 companies. The city has an active luxury-housing market, with strong interest from national developers, a
Cyber city faced a major power outage on Friday evening as the electricity grid collapsed after the main transformer at the 220 KVA substation in Sector 72 blew up, an official said. The sudden blackout, amid sweltering heat, caused widespread discomfort across households and major disruptions at commercial establishments. The Rapid Metro service was disrupted for nearly an hour due to the power outage. "Due to power supply failure from Sec 72 substation of HVPNL in Gurugram, which feeds power to Rapid Metro, Gurugram, and the Gurugram section of the Yellow Line, train services were not available from 7:50 pm to 8:33 pm in Rapid Metro," a DMRC spokesperson said. However, services on the Yellow Line were regulated through standby substation and were running normal during this period. Normal services on Rapid Metro were restarted once power supply was restored by HVPNL through the Sector 72 substation, the official added.