M3M India, a real estate company, has bought land from DLF for Rs 440 crore in Gurgaon, Haryana.
The company has acquired 28 acre in Gurgaon. M3M will invest another Rs 660 crore to build a residential project on it. The company has licences to start construction on this project and will be developing about 1,700 housing units in this project. Entire project is estimated to cost Rs 1,100 crore which will be funded through internal accrual and advances from customers.