M3M wins Noida Sector 108 mixed-use land with ₹1,850 crore bid

M3M Group has emerged as the highest bidder for a 12.5-acre mixed-use land parcel in Noida's Sector 108, quoting approximately ₹1,850 crore. The bid more than doubles the reserve price of ₹835 crore and drew interest from DLF Ltd, though only two groups participated in the final round.

Realty firm M3M has emerged as the highest bidder for a 12.5-acre mixed-use land parcel in Noida's Sector 108, quoting approximately ₹1,850 crore, sources said on Tuesday. The plot, auctioned by the Noida authority, had a reserve price of ₹835 crore and attracted strong interest, with DLF Ltd also participating in the bidding.

The land parcel is designated for mixed-use development comprising residential and commercial components, according to sources. The substantial premium fetched by the Sector 108 parcel highlights strong developer interest in strategically located mixed-use land in Noida.

DLF Limited, M3M Group and Godrej Properties were shortlisted to bid for the land. However, in Tuesday's bidding only two of the groups participated. An M3M spokesperson declined to comment immediately, while the Noida authority was yet to officially announce the auction details.

In a separate recent auction, Godrej Properties emerged as the highest bidder for a 4.95-acre residential land parcel in Sector 151, Noida, for ₹331.75 crore. The proposed residential project is expected to have revenue potential of over ₹2,000 crore, according to Noida Authority officials.