M3M India Launches High Street Retail Project in Gurugram
M3M India, a Company that has footprint of delivering nearly 3.9 million square feet of retail space in Gurugram, has announced the launch of its new project ‘M3M ATRIUM57’, comprising 2 lakh square feet, in Sushant Lok, Sector 57, Gurugram. Being located in the densely populated area, M3M Atrium57 is a high street retail project that has all shops either facing the main Atrium or the main road. The triple height shops (30 feet height) at ground floor in Atrium57 have flexibility of adjusting the height as per the requirements. The project composition is unique with hypermarket, conventional retail shops and food court. To address parking issues, Atrium57 has two levels of parking in the basement. The retail cost of units would vary from Rs. 80 lakhs to Rs. 4 crore. Pankaj Bansal, Director-M3M India informed that “More than 200 prominent brands have already been associated with M3M India. The timely delivery of our projects is a delight for every investor and customer. It makes it easier for them to assess their investments and the escalations. M3M India has projects across the spectrum, be it residential, commercial offices and retail. We have delivered ten key residential and commercial projects in the last 6 months and overall 39 projects in a decade’s time. Corporate governance with transparency and value for money is the mantra for M3M and this is the reason we have been one of the most preferred choice for investors too.” The Company has recently delivered M3M 65thAvenue, M3M Corner Walk and M3M Prive’ to the customer’s satisfaction. M3M 65thAvenue is spread across a sprawling 9.85 lakhs square feet, M3M Corner Walk has 874 units with 8.7 lakhs square feet space and M3M Prive’ has 298 units with 1.9 lakh of square feet space. M3M India till now has successfully delivered 3.9 million square feet of retail space at Golf Course Road (extn.), which as per PropEquity, establishes M3M India as the largest retail space developer in Gurugram. M3M India is also aggressively working towards reducing the debt liabilities. The Company has repaid loan of Rs. 418 crore in Q4 FY 2020-21 ahead of its target of 400 crore. The Company is confident of clearing the balance liabilities by March 2022. In keeping with its aggressive growth plan in different segments - residential, commercial and retail, it is looking forward to reduce the debt by nearly Rs. 500 crore by the end of FY 2022 and be a debt free company.
Tags : News/Views residential Gurugram M3M India Investors commercial Retail Liabilities High Street Retail