Overview
- M3M emerged as the highest bidder on Tuesday, offering roughly Rs 1,850 crore for a 12.5‑acre mixed‑use parcel in Noida’s Sector 108.
- The bid more than doubled the reserve price of Rs 835 crore and beat DLF, with only those two developers actively competing in the auction.
- Noida Authority records show M3M also acquired a 6‑acre plot in Sector 98 for about Rs 414 crore, taking its combined auction outlay to over Rs 2,400 crore.
- A Noida official and market reports say stamp duty and other charges of close to Rs 150 crore will push M3M’s total cash cost for the Sector 108 site toward Rs 2,000 crore.
- Developers and officials say the high price highlights strong demand for scarce, well‑located land in the Dwarka Expressway–Noida corridor and could put upward pressure on regional land values and future project pricing.