Tag Archives: M3M Golf Estate

M3M shells out Rs 440 cr for DLF land in Gurgaon

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india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, M3M Golf EstateM3M  has bought 28 acres of land in Gurgaon from the DLF group. The deal size is worth Rs.440 crore.

The land is located in sector 70A on Gurgaon Course (Extn)-Southern Peripheral Road (SPR), looking the Aravalis and connecting with the SPR to National Highway-8.

M3M plans to build a premium residential project on the land. The company has budgeted a total investment of Rs.1,100 crore for this project, inclusive of the deal value.

The company has already tied up with the banks, who are offering them loans at 12-12.5 per cent interest rate.

Speaking on the occasion, Pankaj Bansal, Director, M3M said, “One More Feather To our Crown and the clinching of this deal has shown our commitment towards aggressive expansion plans in the near future. The company has already launched projects worth US$ 2.5 Billion in one and a half years, one of the few companies to have launched more than 10 million sq.ft in such a short span. M3M with its present land bank of over 600 acres is now working towards quantum investments in the real estate sector.”

Bansal further added that M3M India Limited is a 100% debt free company, promising a luxurious lifestyle in the heart of Gurgaon.

The deal was hotly contested between some of India’s leading real estate companies. However, it was M3M that bagged the deal.

Dr. Kunal Banerji, President-Marketing, M3M Group, while making this deal public, said, “We are very proud to have finally concluded such a large deal with one of the leaders of real estate, DLF.  As you know, we at M3M are on an expansion mode”.

The group with its consistent investments in superior technology and fine craftsmanship has been credited with bringing unique concepts to its consumers.

Highest seizure in Delhi-NCR by IT raids on M3M

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india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, M3M Golf EstateRaids by income tax sleuths on the offices of realty firm M3M recently yielded Rs.314 crore unaccounted income. This is one of the highest seizures in the region, said I-T officials. According to officials, searches, conducted this month, led to the seizure of documents which revealed many unaccounted transactions for purchase of land and other business activities by M3M India Ltd.

M3M India Holdings, a sister company of the M3M Group, sold 8 lakh shares of another firm of the same group RS Infrastructure Pvt Ltd for Rs.526 crore to Lowe Realty Pvt Ltd, a group concern of Religare, Mumbai.

M3M India Holding has Basant Bansal, Roop Bansal, Abha Bansal and Punkaj Bansal as partners. The company had 8 lakh shares of RS Infrastructure Pvt Ltd, which also had about 18 acres of land in Golf Course Extension Road, Gurgaon with commercial CLU (change in land use) certificate.

The documents showed that M3M India Holdings had already handed over 4,88,000 shares to Lowe Realty Pvt Ltd at Rs.6,575 per share and had received part payment of Rs.240 crore in the current fiscal. The amount was a part of the total transaction of Rs.320 crore and, therefore, was liable to capital gains tax in financial year 2011-12.

During the search it was found out that the assessee, M3M India Holdings, had manipulated its accounts such that the amount was not shown as income in the current fiscal.

While Rs.314 crore had been surrendered, more unaccounted income was likely to be detected on the completion of the case in a fortnight’s time, said YR Saini, director, Directorate of Income Tax (investigation).

Apart from the revenue intelligence gathering, a lavish function organised on an island in Turkey by one of the company officials for her daughter’s wedding proved to be a major lead for the I-T sleuths. A huge expenditure was incurred on the marriage.

L&T to build the 7-star Luxury Residences – M3M Golf Estate

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M3M Golf Estate, Basant Bansal, L&T, Larsen & Tubro, Gurgaon real estate, Delhi real estate, Delhi NCR real estate, Delhi NCR property, India real estate news, realty news india, real estate news india, property news india, property news, realty news, real estate news, Track2Media, Track2Realty, Ravi SinhaLuxury real estate developer M3M India has appointed L&T to build the 7-star Luxury Residences – M3M Golf Estate. This is a 75 acre golf lifestyle resort cum residences for the discerning in Sector 65 in the heart of Gurgaon. Chairman and Managing Director of M3M Group , Basant Bansal said, “With L&T we can assure our customers that we will complete the project on the record time of 33 months instead of 42 months. L&T comes with vast experience in constructing the best projects in the world.”

They have also combined forces with LERA (of USA), a consulting firm credited for making structural designs with in-built seismic controls to ensure earthquake resistant features. M3M Golf Estate boasts of luxury apartments built around a 9-hole reversible ‘In City’ golf course designed by the world famous architect, Graham Cooke. The architecture is a perfect synthesis of green eco-friendly green landscapes and cutting edge design. The project is designed by world renowned architect ARCOP, headed by Ramesh Khosla. The work is developed around the concept of five elements and is imbued with deep spirituality.

The architecture and the art have bridged the gap between the painting and sculpture to recreate a lifestyle that treats nature with respect. It further provides a luxury option for the ever growing number of expats, corporate honchos and HNIs in the region. The project has received awards internationally, as ‘Best Upcoming Golfing Lifestyle Residences in India’ in USA, Dubai and UK. Bansal added, “In line with our commitment to give the best of quality and timely delivery, we are happy to appoint L&T which is one of the world’s best construction groups. M3M Golf Estate is our much awarded project, internationally acclaimed and we have designed this keeping in mind the taste, class and the requirements of our target audience.

M3M Golf Estate claims to be a crown in the dazzling millennium city, Gurgaon with state-of-the- art ultra luxury apartments, modern amenities and an aesthetically designed 9-Hole Golf Course. The project is strategically located on the Golf Course Road (Extn) in Sector 65, Gurgaon; 30 minutes drive from the Indira Gandhi International Airport and is set to become an urban hub of the town. M3M Golf Estate will feature world class amenities, phenomenal outdoor and indoor living spaces, state-of-the-art kitchens with fittings and high end fixtures, Wi-Fi in all buildings, rooftop jogging tracks and a world class club house.