New Delhi: Leading real estate developer M3M India has emerged as the highest bidder for two commercial land parcels, while Max Estates has secured the top bid for another commercial plot with a 40% residential development option in a recent auction conducted by the Noida Authority.
According to the Noida Authority, Max Estates placed the winning bid for the largest plot, measuring 41,835 sq. meters, at a value exceeding ₹700 crore.
Meanwhile, M3M India secured a 23,570 sq. meter plot for over ₹400 crore. Additionally, a 24,000 sq. meter land parcel was auctioned for ₹400 crore to Mangalam Group, a subsidiary of M3M India. Another 812 sq. meter plot received the highest bid from Vertex Constructions.
Noida’s Rapid Growth as a Real Estate Hub
Commenting on the development, Pankaj Bansal of M3M India stated:
“Noida is rapidly establishing itself as a leading real estate destination. We have honored our commitments made during the Uttar Pradesh Global Investors Summit 2023 by making substantial investments, creating employment opportunities, enhancing lifestyles, and driving large-scale infrastructure development.”
This auction marks a significant milestone in Noida’s real estate expansion, attracting major developers and boosting investment opportunities in the region.
Also read: M3M MD Pankaj Bansal Expresses Joy in Attending Trump Inauguration
Key Takeaways:
✔ M3M India & Max Estates emerge as top bidders in Noida Authority auction
✔ Max Estates secures the largest land parcel (41,835 sq. meters) for ₹700 crore
✔ M3M India wins a 23,570 sq. meter plot for ₹400 crore
✔ Mangalam Group (M3M subsidiary) secures a 24,000 sq. meter plot for ₹400 crore
✔ Vertex Constructions wins a smaller 812 sq. meter plot
✔ Noida continues to rise as a real estate and investment hub
