M3M India expects Rs 4k crore revenue from new Gurugram housing project; investment at Rs 1,200 crore

Realty firm M3M India is expecting a revenue of around Rs 4,000 crore from its new luxury housing project in Gurugram.

The company has launched a new residential project 'M3M Altitude' on Golf Course Extension Road in Gurugram where it will build 350 luxury apartments.

M3M will invest Rs 1,200 crore to develop this 4-acre project, while the estimated sales revenue is around Rs 4,000 crore.

The company is selling apartments in a price range of Rs 10 crore to Rs 30 crore each.

In a statement on Saturday, the company said it has already sold about 180 units for Rs 1,875 crore.

Sudeep Bhatt, President, M3M Group, said: "Since the unveiling of M3M Altitude, we have seen a huge influx of inquiries and interests from the home buyers." This 4-acre project is a part of the 60-acre M3M Golf Estate township.

According to real estate data analytic firm PropEquity, housing sales in Delhi NCR, sales rose to 10,198 units during April-June this year from 9,635 units in the year-ago period.

Gurugram housing market has seen strong housing sales in projects of many developers including DLF, Signature Global, and M3M.