World · India Bureau
M3M wins Noida land auction with ₹1,850 crore bid for Sector 108
Real estate developer M3M has emerged as the highest bidder for a 12.5-acre mixed-use land parcel in Noida's Sector 108, submitting an offer of approximately ₹1,850 crore. The winning bid significantly exceeds the reserve price of ₹835 crore, reflecting strong developer appetite for premium commercial locations in the National Capital Region.
LSN India ·
M3M Group secured the contested land parcel at the Noida Authority auction on Tuesday, outbidding competitors with an offer more than double the initial reserve valuation. The strategic Sector 108 site is slated for mixed-use development incorporating both residential and commercial components, making it an attractive proposition for major real estate players.
The auction process drew participation from three pre-qualified bidders—M3M Group, DLF Limited, and Godrej Properties. However, competitive bidding ultimately involved only two of the shortlisted developers, with M3M prevailing after an intensive process that underscored the premium valuations commanding strategically positioned land parcels across Noida.
The substantial premium realised by the Sector 108 parcel underscores robust developer demand for well-located mixed-use developments in Noida, a major investment hub within the NCR. An M3M spokesperson refrained from commenting on the outcome, while the Noida Authority has not yet made an official public announcement regarding auction specifics.
The transaction marks a significant land acquisition for M3M as the company continues expanding its portfolio in the Delhi-NCR region, traditionally a stronghold for large-scale residential and commercial projects.