Basant Bansal, Chairman M3M Group - his vision and business acumen has positioned M3M as one of North India’s fastest growing and most respected real estate brand.

1. Basant Bansal and Roop Bansal has made a mark in
luxury realty segments: Pankaj Bansal
Gurgaon-based realty major M3M India has made a mark in the luxury and super-luxury segments within
a short span of time. Pankaj Bansal, director of the company, for his take on their focus area of
operations and their projects. Edited excerpts:
Real estate developers generally have a mix of product categories, but M3M India has chosen to
cater to the luxury segment only. What are the reasons for this?
We are committed towards developing state-of-the-art real estate masterpieces and have always strived
to maintain the highest possible standards of quality. As a company, we are more concerned about the
value and quality of the product we offer to our buyers. We hire the best in the world for all our
construction and design activities and therefore have become a specialist in the luxury segment.
We also foresee a great future for the luxury housing segment. First, we cater to socio economic class
A++ customers who are least affected by any economic imbalance happening internally or externally.
Besides, there has been a considerable rise in the number of the super rich in the past couple of years,
which will go up further.
By 2015-16, the number is expected to reach 2.19 lakh households with a net worth of Rs 2.35 lakh crore
from 62,000 households with a net worth of Rs 45,000 crore a year back. It is also true that now the
Indian consumers are more aware of the international trends and aesthetics, and are willing to spend to
live their dreams. The recent devaluation of the Indian rupee has also attracted investments from NRIs. I
believe these are enough reasons to concentrate on this segment.
However, getting a cue of the market dynamics, we have now planned our entry into the mid and uppermid housing segment as well. Some projects will soon be launched in these segments.
M3M India has made a mark in the luxury and super-luxury realty segments within three years of
commercial operations. What has contributed to this?
We started out as land aggregators for other developers such as DLF, Unitech and Emaar MGF. Then in
a gradual process of forward integration in the same channel, we turned into developers.
However, all through these times, what helped us grow at such a rapid pace was an extremely strong
foundation that was laid by my father, Basant Bansal, and my uncle, Roop Bansal.
Also, as a company we have always been very focused in terms of our goals and objectives, and how we
plan to accomplish them.
We entered the luxury and super-luxury segment as we knew that we could create a significant mark in
the market. The outcome is now visible to everyone. We are developing some of the most sought-after
properties in India and have pioneered many new luxury living concepts.
What projects are you currently offering in the market?

2. We are currently developing 5 projects in the luxury segment. M3M Golf Estate and M3M Polo Suites are
two ultra modern luxury residential projects whereas M3M Merlin is a luxury residential project based on
Singapore-style living. We are also developing two commercial spaces by the name of M3M Urbana,
which is again a California-themed luxury retail space, and M3M Cosmopolitan, which is a Manhattan-like
retail and commercial hub in Gurgaon. All our projects are extraordinary in terms of exclusivity,
uniqueness and style.
Luxury property development has now become focus for almost all major realtors. What sets your
projects apart?
As I said, our focus is on the quality and value of the product we offer to our buyers. We ensure the bestin-class construction and design practices, provide the highest class of facilities and create homes that
pamper the wishes of the super rich.
Our Golf Estate project, for instance, is an oasis of luxury and class catering to golf adorers. The
architecture is a perfect synthesis of green eco-friendly landscapes and cutting edge design. In fact, the
project has already received awards internationally as the 'Best Upcoming Golfing Lifestyle Residences in
India' in the US, Dubai and the UK.
What class of buyers is interested in your properties?
We are obviously catering to the socio-economic class A+ and A++ customers who can afford super
luxury living. Our buyers are those who believe in class, panache and living life king size. Our marketing
is done generally through word of mouth and referrals as high net worth individuals make up for most of
our clientele.
The M3M Golf Estate and M3M Polo Suites are priced at around Rs 15,000 per sq ft, while M3M Merlin is
valued at Rs 9,000 per sq ft. Our commercial projects, Cosmopolitan and Urbana, are also priced
between Rs 15,000 and Rs 17,000 per sq ft.
As I mentioned earlier, we are also seeing considerable investments coming from NRIs, with a majority of
the investments coming from the Middle-East and South-East Asia. The NRI investment in the NCR
region has cumulatively increased by 40 percent in 2011 compared to the same period last year. The
rupee devaluation and the higher return on investments have attracted NRIs to invest in the luxury
segment of the Indian real estate market.