Bengaluru, April 16, 2016: The M3M Group and Sahara land deal has come to a closure. The deal was finalized at 1211 Crores; with the payment of last installment 700 plus crores in the Sahara SEBI Account, all the dues for the 185 acre plot have been cleared. The land is a part of the Sectors 111 and 113 of the Gurgaon Master plan. The site is located along the Dwarka Expressway on the Delhi Gurgaon border, with a huge frontage of over 1 km.
M3M has paid the entire amount of the land deal which along with the Stamp duty amounts to more than 1300 crore. The deal came into spotlight as it was the largest land deal at the time. The M3M group is planning
to develop a mixed use project on the land. Owing to its strategic location and connectivity with both Delhi & Gurgaon the the developments on the site are expected to elicit interest from both investors & end users alike. The group has till date delved in to both commercial and residential realty.
Confirming the above information Mr. Vivek Singhal, President- Corporate Strategy said,” The land deal is complete now and M3M has acquired the rights of the property with the payment of the last installment. We plan to develop a mixed use project on this land which happens to be first sectors on NPR when coming from Delhi.’
Corporate Comm India (CCI Newswire)
