M3M Group is on track to close its Rs 1300-crore loan from Indiabulls by the first quarter of the 2025-26 fiscal year. The loan, which M3M India secured, was used to purchase and develop the M3M City of Dreams project in Panipat. This venture marks the company's first large-scale real estate development in a Tier-2 city, underlining its expansion strategy beyond major metropolitan areas.
M3M City of Dreams, popularly referred to as M3M City in Panipat, has commenced possession for its first phase. The project spans 337 acres and includes premium residential plots, independent floors, schools, temples, social clubs, retail spaces, entertainment zones, and lush green landscapes.
The project also boasts a 1.74 million sq. ft. retail space, making it one of the largest marketplaces in North India. Five exclusive lifestyle clubs spanning 200,000 sq. ft. ensure a vibrant commercial and social environment for its residents.
Robin Mangla, President of M3M India, said, "We have successfully repaid Rs 802 crore and are paying an additional Rs 331 crore on 31 March 2025. After that, the residual loan amount will only be Rs 167 crore, which will also be repaid within Q1 of 2025, showcasing our strong financial discipline and commitment to timely project execution and repayment of lender dues."
"This repayment will make the Group debt-free and strengthen our credibility in the real estate sector, reinforcing investor confidence in our strategic growth initiatives. The launch of M3M City in Panipat is a testament to our vision of delivering world-class real estate in emerging markets. The project has commenced possession for approximately 1,100 customers, offering a premium living experience with top-tier amenities," he added.
Santosh Kumar, Group Vice Chairman, Anarock, said, "It's encouraging to see developers like M3M leading the way in tier-2 city real estate development."
M3M City caters to the connectivity triangle of Delhi, Uttar Pradesh, and Punjab, apart from Haryana, with seamless access to key cities like Gurugram, Noida, Faridabad, and Chandigarh. The township's proximity to Indira Gandhi International Airport (100 km) and major educational institutions like Amity and Ashoka University further adds to its appeal.
M3M City is a game-changer for Panipat, marking its transformation into a premium real estate destination. The city is witnessing rapid infrastructure growth, including the Haryana Orbital Rail Corridor (HORC), Dedicated Freight Corridor (DFC), Delhi-Panipat Rapid Rail Transit System (RRTS), and the Karnal Ring Road, all contributing to improved connectivity, economic growth, and rising property values.
With 50+ projects across residential, retail, office spaces, and serviced apartments, M3M India continues to lead the real estate landscape in North India. Having delivered 36 projects and actively developing the rest, the company's 3,000-acre land bank across Gurugram, Noida, and Panipat reinforces its stronghold in the sector.
M3M City of Dreams is a landmark in M3M India's journey. It sets a precedent for high-end real estate development in tier-2 cities and reshapes the future of urban living beyond metro hubs.
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