M3M acquires 73-acre land in Noida at Rs. 900 cr.

Real estate developer M3M has acquired a 73-acre land parcel in Noida for Rs. 900 crore in one of the largest all-cash deals in recent times, said three persons aware of the development.

The land in Sector 128 and on the expressway, belonged to Kadam Developers-a subsidiary of NCR-based Shipra group—but was mortgaged with Indiabulls Housing Finance after the builder defaulted.

ET