M3M Soulitude project sales cross Rs 1000-cr mark within first week of launch

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Updated: November 11, 2021 2:15 PM

In the first phase, M3M India is coming up with 2 BHK and 3 BHK accommodation with features like landscaped greens, jogging tracks and other amenities.

Union Minister for Ministry of Road, Transport and Highways Nitin Gadkari's announcement of the Dwarka Expressway completion by early 2023 has given the much-required impetus to NPR.

Even when the real estate industry is going through tough times, Gurugram-based M3M, India’s leading real estate developer, claims to have registered phenomenal success through its new project – M3M Soulitude. Within the first week of launch of the project, the company has registered a robust sales of over Rs 1000 crore.

Speaking on the announcement, Pankaj Bansal, Director, M3M India, said, “We are quite pleased with the response we have received for our M3M Soulitude project. Within the first week itself we have crossed Rs 1000-crore sales. The project will have 2 BHK and 3 BHK accommodation, with an average sizes of 1100 square feet and 1400 square feet, respectively. These units are priced between Rs 70 lakh and Rs 90 lakh. The company aims to deliver the project by 2023.”

M3M’s Soulitude project is located at sector 89 at NPR and claims to offer best of both the worlds―advantage of low rise and convenience, security and amenities of a condominium.

In the first phase, M3M India is coming up with 2 BHK and 3 BHK accommodation with features like landscaped greens, jogging tracks and other amenities, including dedicated utility space – which acts as a basement; elevated pathways, and landscaping at top level, which acts as one’s terrace. The project’s proximity to Dwarka Expressway, CPR and NH8 has also been the catalyst towards attracting the attention of prospective homebuyers.

“M3M India has identified buyers’ need for low rise residential spaces that address their aspirational lifestyle. M3M Soulitude is perfectly in tune with the requirements of today’s perceptive customers who are looking for low density residential space, amenity rich accommodation, comfort and security under one roof,” he added.

Union Minister for Ministry of Road, Transport and Highways Nitin Gadkari’s announcement of the Dwarka Expressway completion by early 2023 has given the much-required impetus to NPR. The NPR has bolstered its position as the most sought-after location in NCR, owing to large infrastructure development, excellent connectivity and vibrant social infrastructure.

Additionally, “M3M India has delivered ten key residential and commercial projects in the last 6 months. This achievement reinstates our commitment towards timely delivery of projects and positions M3M India as a trusted developer, amongst both customers and investors. 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. It is confident of clearing the balance liabilities by March 2022. In keeping with the company’s aggressive growth plan in different segments – residential, commercial and retail – we are looking forward to reduce our debt by nearly Rs 500 crore by the end of FY 2022,” Bansal said.

M3M India has seen a meteoric rise in a short span of a decade. With strategic customer centric campaigns and timely delivery of projects, the company has grown from strength to strength. In the last six months, April-September 2021, the company has clocked sales of Rs 3034 crore, which include under-construction residential sales of Rs 1450 crore, under-construction commercial sales of Rs 835 crore and delivered projects sales of Rs 749 crore.

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