Realty firm M3M India has announced that it has acquired 350 acre land in Panipat, Haryana, for Rs 1,500 crore and will invest another Rs 1,200 crore to develop an integrated township. According to reports, the company will make an investment of Rs 2,700 crore, including land and construction costs, to develop this township project and expects a sales revenue of Rs 5,000 crore. Gurugram-based M3M India promoter Pankaj Bansal stated that they already forayed into the Noida market last month and now they have bought 350 acre land in Panipat from Ambience Group. This is the first step towards becoming a pan-India player. He said the company has entered into tripartite agreements with Ambience Group and Indiabulls Housing Finance and have taken over the loan of Indiabulls Group. He said they are targeting to launch this 4 million sq ft mixed-use project in Noida, comprising housing, retail, office and serviced apartments, in February 2023. The company plans to acquire more land parcels in the Noida-Greater Noida market from the authorities as well as private developers and landlords.