M3M group signs Rs 45,000-crore MoUs with Haryana government

The Gurgaon-based realty firm, M3M group said that it has signed Rs.45,365 crore memorandum of understanding (MoU) with Haryana government at the 'Happening Haryana Global Investors Summit'. Under the agreement, the company will invest Rs.45,365 crore in state over the next 5-10 years in different projects such as smart city, low-cost homes, IT Park, SEZ and others. The first of the three MoUs involves an investment of Rs.9,000 crore for the development of large clusters of low-cost housing as part of the Prime Minister's Hosing Scheme. The second for Rs.2,000 crore is to be invested in developing IT park and special zones. "Then, Rs.26,000 crore will be invested in building a new smart city in Gurgaon envisioned to become a model for 'smart city' concept for the nation," said the company. The MoUs were signed chairman Basant Bansal before state Chief Minister Manohar Lal Khatter.