Since most of the buyers are depending upon loans from the banks and financial institutions, timely possession has become a critical factor in the realty sector. The timely completion of the real-estate projects has also been emphasized by RERA.
Fairway West – Pool Side
Keeping up to its reputation of timely delivery of all its projects, the Company launched 27 projects prior 2018 and 25 projects have already been delivered. These delivered projects account for 4 million square feet of retail space and 20 million square feet of overall space. The construction in the remaining 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 post 2018, including M3M Marina, M3M Prive and M3M Natura have already been delivered successfully to the customers. Further, the construction is in full swing in 5 newly launched projects including M3M Soulitude, M3M Capital and M3M Atrium 57.
One thing that sets apart M3M India from its peers is the end-to-end built-in business model. From owning land to monetising, licensing, launch, construction, marketing, delivery and after-sales, the complete value chain is directly managed by M3M India.
Pankaj Bansal, Director – M3M India is confident of delivering all its future projects as well within the timelines. He says, “Timely possession in realty is very important and we believe that this will be one of the key parameters that will drive investments in all realty segments. Most of the customers look for home loans and timely delivery with best of the quality and amenities has always been our priority. We want to be the biggest and the most respected brand in India by delivering sustainable and customer centric projects. We are committed to our investors and will always remain. At the end of the day, the customer needs to be happy and satisfied.”
One of the residents of M3M Marina, Ankit Bhardwaj, Associate Director, Fractal Analytics told, “I was looking for a flat in Gurugram within my budget and one of my friend staying in M3M Sierra suggested me to book a flat in M3M Marina which was being launched in 2015. Since I was staying in a rental accommodation, it was important for me to get the possession within the promised timelines. I am glad that M3M India fulfilled its promise of timely delivery of the project. M3M Marina has everything a small residential township can have – spacious accommodation, well spread balconies, club house, meditation centre, sports facilities, kids play area, swimming pool, gym, parks, fountains, power backup, covered parking, you name it. It also has within the society the grocery stores to meet the daily requirements.”
The faith of the customers is reflecting in the bookings and sales for M3M India. The Company sold 1000+ units of their M3M Soulitude residential project in the very first week of its launch. The Company had also clocked Rs. 1000 crore sales within the first week itself. Recently. M3M India launched a new high-end luxury golf styled residential project – ‘M3M Capital
The backbone of a real-estate developer is also its channel partners. In case of M3M India, its channel partners have not only stayed with the company since its inception but have also been very aggressive on the Company’s approach.
Honey Katyal, a channel partner from Investor Clinic is associated with M3M India for the past 10 years. “We have been associated with M3M since 2011, ever since project M3M Golfestate started. We have been part of M3M’s phase 1.0, phase 2.0 and now looking forward for long association in M3M 3.0’s vision and plans. What M3M promises is the timely delivery and so far it has never disappointed its customers. Company’s focus on quality and customer experience is unquestionable. M3M is known for its unique propositions and flexible plans, and we as channel partners are able to extend that to the customers for their benefit and value addition.”
The Dwarka Expressway, connecting Delhi and Gurugram, has given developers a much needed opportunity to develop large isolated land parcels into residential and mix projects.
“The area between Gurugram and Delhi has huge potential but has remained isolated for long. Our M3M Capital Project is the beginning of utilization of such large land parcels that have also kept Delhi away from Gurugram and vice-versa. There have been many large land parcels lying either under-developed or completely un-developed between Gurugram and Delhi. The Finance Minister in the Budget speech had indicated that urban planning will be in utmost focus since nearly half of the country’s population will be living in cities by 2047, when India will celebrate 100 years of independence. I believe Dwarka Expressway will be another prominent address for these customers. Keeping this in view, M3M India has kept a strong focus on Dwarka Expressway and we are looking forward to delivering the best of our projects on this Expressway,” says Pankaj Bansal.
The realty market is all set to boom in coming years with startups looking to lease out about 30 million sq. ft. of space during 2022-24, and majority of it is going to be commercial. The demand in residential accommodation is all set to increase by 8-10 percent. On the other hand, FDIs in real estate have also jumped three times during 2017-2021, growing to about 82%.
The young Indian population is also on the move, with 66% young Indians below the age of 35 years, emerging as young millennials borrowers of home loans. The cumulative active home loan base of these borrowers has continuously grown over the last 3 years at a CAGR of 3.5%.
Timely possession, corporate governance, transparency, sustainability and cost competitiveness will play a decisive game in realty in coming years.