Realty firm M3M India on Thursday said it will invest Rs 700 crore to develop a new retail property in Gurugram, Haryana.
The company said in a statement that it has launched a retail project – 'M3M Capitalwalk' in sector 113, Gurugram, on the 150-metre-wide Dwarka Expressway.
The project will have 1,047 units of different sizes, ranging from 100 to 3,000 square feet. M3M is looking for a topline of Rs 2,000 crore from this project.
Pankaj Bansal, DirectorM3M India, said the company is making investments to build a portfolio of 6 million square feet of retail space. The new project will have 1 million square feet of saleable space, he added.
The company's residential project 'M3M Capital' and retail project 'M3M Capitalwalk' are spread across 25 acres. The residential project, comprising 1,700 units, is expected to generate a revenue of Rs 3,500 crore.
Recently, M3M India has launched a 5 lakh square feet retail project 'M3M Route65' in Gurugram with an estimated topline of Rs 1,000 crore from this project. M3M India has launched 41 projects so far, of which 28 projects have already been delivered.
The company is one of the leading real estate firms in the Gurugram market in the Delhi-NCR region.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!