NEW DELHI: M3Ms Pankaj Bansal says, “Without a doubt, property developers with enough land plots and a holistic business model will have an advantage for buyers. Uniquely, M3M India has a bank of over 2,200 acres of land gave the company a definite advantage and will always remain so”.
“We operate on an integrated business model or we call it an end-to-end integrated business model, which means, from land ownership to monetization, licensing, launch, marketing, delivery and l after-sales; the complete value chain is managed directly by M3M India,” he said, adding that “managing these factors directly also saves time, costs and projects are better integrated. in terms of installations and follow-up”.
Bansal is the director of M3M India, one of the leading property developers in Gurugram, which has completed around 40 projects comprising over 2 crore sq ft of space, including around 40 lakh sq ft of retail space.
The company is a leader in providing retail space in North India and its M3M Trump Towers and M3M Golfestate are milestones and landmarks in Gurugram.
The real estate market is poised to boom in the coming years, with startups looking to lease around 30 million square feet of space between 2022 and 2024, the majority of which will be commercial. Demand for residential housing is also expected to increase by 8-10%.
FDI in real estate also jumped three times between 2017 and 2021, reaching around 82%. India’s young population is also on the move, with 66% of young Indians under the age of 35 emerging as young millennial home loan borrowers. The cumulative active home loan base of these borrowers has grown steadily over the past 3 years at a CAGR of 3.5%.
As Delhi-NCR has replaced Bengaluru as India’s startup capital, there seems to be constant pressure for residential and commercial space in Gurugram and the much-publicized Dwarka Highway.
Gurugram also has the third highest per capita income in India and has contributed significantly to India’s entrepreneurial ecosystem. The Covid pandemic slowed activity for a few months, but the market recovered significantly in 2022 and is expected to remain so for years to come.
Bansal says: “There is no doubt that businesses around the world have slowed down since the outbreak of the Covid pandemic. But the year 2022 has started with renewed hope with a significant increase in demand. Although the Commodity prices are constantly on an upward trend, demand is also increasing for residential and commercial properties.The only other way to somehow stabilize this fluctuation and manage costs is to deliver the projects. A delay in delivery usually drives up the cost because apart from raw material costs, service costs too Since M3M India’s strength lies in delivering projects on time, we are in a better position to manage these price fluctuations.
True to its reputation for fast delivery of all residential and commercial projects, the company had launched 27 projects before 2018 and 25 projects have already been delivered.
The construction of two projects, the iconic Trump Towers and M3M Heights, is in full swing and these projects are expected to be delivered soon.
To its credit, the five new projects launched by M3M India after 2018, including M3M Marina, M3M Prive and M3M Natura, have already been successfully delivered to customers. Construction is in full swing in five newly launched projects including M3M Soulitude, M3M Capital and M3M Atrium57. The M3M Capital project is part of M3M India’s Vision 3.0. This is a new high end golf style residential project in the 113 Gurugram area, directly on the Dwarka Highway. Initially, five residential towers by M3M Capital, being built on approximately 16 acres with 644 apartments, were opened for booking, comprising 294 2.5-bedroom apartments and 350 3.5-bedroom apartments. The project is close to Aerocity and Delhi International Airport, and is part of a larger vision for Delhi Smart City Airport.
Timely ownership, corporate governance, transparency, sustainability and cost competitiveness will play a decisive role in real estate in the years to come, and it seems that developers with an integrated business model of end to end and a bank of plots of land will have a definite advantage.