M3M India to close `1300 crore Indiabulls loan for Panipat project by first quarter of FY2025-26

Gurugram: M3M group, a leading luxury real estate developer, is poised to close the entire Rs 1300 crore Indiabulls loan by Q1 of FY2025-26. The loan was availed by M3M India from Indiabulls for the purchase and development of M3M City of Dreams, a landmark project in Panipat and the company’s first large-scale venture in a Tier-2 city. This milestone underscores M3M India’s robust financial planning, strong market positioning, and commitment to timely project execution.

M3M City of Dreams, popularly referred as M3M City in Panipat, has commenced possession for its first phase. The project spans 337 acre and integrates world-class infrastructure, offering an unparalleled urban lifestyle experience. Designed to redefine tier-2 city development, it includes premium residential plots, independent floors, schools, temples, social clubs, retail spaces, entertainment zones, and lush green landscapes.

The project also boasts of a 1.74 million sq. ft. retail space, making it one of the largest marketplace in North India, along with five exclusive lifestyle clubs spanning 200,000 sq. ft., ensuring a vibrant commercial and social environment for its residents.

Commenting on the milestone, Robin Mangla, President, M3M India, said, “We have successfully repaid amount of Rs 802 crore and are paying an additional Rs 331 crore on March 31, 2025 post which the residual loan amount would only be Rs 167 crore which will also be repaid within Q1 of FY2025-26 showcasing our strong financial discipline and commitment to timely project execution and repayment of lender dues. This repayment will make the Group Debt Free and further strengthens our credibility in the real estate sector, reinforcing investor confidence in our strategic growth initiatives. The launch of M3M City in Panipat is a testament to our vision of delivering world-class real estate in emerging markets. We are proud to bring an integrated urban living experience to Panipat, setting a new benchmark for luxury townships in tier-2 cities. The project has commenced possession for approximately 1,100 customers, offering a premium living experience with top-tier amenities.”

M3M City is a game-changer for Panipat, marking its transformation into a premium real estate destination.

The city is witnessing rapid infrastructure growth, including the Haryana Orbital Rail Corridor (HORC), Dedicated Freight Corridor (DFC), Delhi-Panipat Rapid Rail Transit System (RRTS), and the Karnal Ring Road, all contributing to improved connectivity, economic growth, and rising property values.