Realty firm M3M has emerged as the highest bidder for a 12.5-acre mixed-use land parcel in Sector 108, Noida, securing it for approximately ₹1,850 crore in a highly competitive bidding process. According to sources, the land parcel had a reserve price of ₹835 crore and attracted strong interest from established players, with DLF Ltd also participating in the bidding process. The substantial premium fetched by the Sector 108 parcel highlights strong developer interest in strategically located mixed-use land in Noida, with the final bid significantly exceeding the reserve price.
The 12.5-acre mixed-use land parcel in Sector 108 is designated for development comprising residential and commercial components, as reported by sources. The land parcel was auctioned by the Noida authority and attracted strong interest from major realty groups. M3M has declined to comment immediately on the acquisition, while the Noida authority is yet to announce the official auction details. The substantial premium paid by M3M demonstrates the lucrative potential of mixed-use properties in Noida's prime locations.
The bidding process for the Sector 108 parcel saw DLF Ltd, M3M Group and Godrej Properties shortlisted to participate, with only two groups ultimately bidding on Tuesday. Godrej Properties had recently emerged as the highest bidder for a 4.95-acre residential land parcel in Sector 151, Noida, securing it for ₹331.75 crore. According to Noida Authority officials, the proposed residential project from Godrej Properties is expected to have revenue potential of over ₹2,000 crore. This competitive landscape illustrates the robust developer interest in strategically located mixed-use land parcels in Noida.
The latest developments come amid broader market challenges, with PropTiger reporting that housing sales across eight major cities fell 6% year-on-year to 91,729 units in the April-June quarter due to low demand. In Delhi-NCR specifically, sales declined 7% YoY to 9,352 units from 10,051 units. Despite these headwinds, County Group continues to demonstrate strong confidence in the NCR market, having recently announced a ₹2,500 crore investment for a 24-acre ultra-luxury housing project in Gurugram's Sector 88A, featuring 844 apartments scheduled for completion by 2032. This investment follows the company's previous ₹1,200 crore luxury housing project announced in Noida's Sector 151, comprising 226 apartments across 5 acres.
