M3M India has launched the phase-I of its first plotted development project ‘M3M City of Dreams’ in Sector 37, Panipat, Haryana. In the first phase, M3M introduced 900 plots, ranging from 140 to 180 sq. yards with a Rs 600-crore topline expected. Out of this, 436 plots have already been sold, clocking a sales value of Rs 250 crore. The RERA license for this phase has been achieved for 50 acres.
The project is planned for execution in a phased manner on a 350-acre land parcel to emerge as a self-sustainable township, once completed. overall the layout will comprise a total of 2,100 plots, ranging from 140 to 1000 sq. yards, a 1.45 million sq-ft of retail space and four-clubs occupying overall 1,50,000 sq-ft.
In line with its lifestyle theme, the project offers offer expandable villas, community parks, cycling tracks, clubs, restaurants, worship spaces, and a dedicated green space. Educational institutions, hospitals, shopping plazas, entertainment facilities are also available in the vicinity.
Sudeep Bhatt, president, M3M India said, “Developing projects like ‘M3M City of Dreams’ has been in our radar for quite some-time now. It is our first plotted development project and our thought is to provide best-of-the-class facilities under one roof to our customers and investors with sustainable development at its core. We are not selling mere plots – but a lifestyle, which Panipat has been always looking forward to, being an admirable, resourceful and economically sound city and encourage sustainable development.”
Connectivity is afforded through the Eastern Peripheral Expressway to reach Ghaziabad, Gurugram, Faridabad, Bahadurgrah, Jhajjar and Palwal. The Indira Gandhi International Airport (IGI) is also accessible. A proposal to construct an ‘Industrial Park’ in Panipat is also being planned with the mushrooming of downstream industries.
M3M has lined-up the launch about eight to ten ultra-luxury residential and commercial projects with overall saleable space of about 14 to 15 million sq. ft. It also recorded the highest ever sales of Rs 13,000 crore in FY23, with 10 million sq. ft. of space sold in FY23. The company has nearly 30 million sq. ft. of overall space in its portfolio.
