M3M has emerged as the highest bidder for a 12.5 acre mixed-use plot in Noida's Sector 108, offering about Rs 1,850 crore. That amount equates to Rs 18,500 million (mn) or Rs 18.5 billion (bn) and was reported by PTI as topping other participants in the auction. The bid was more than twice the reserve price of Rs 835 crore, underscoring strong competition for the parcel.

DLF also took part in the bidding while Godrej Properties, though shortlisted, did not participate in the auction. The Noida Authority had put up five parcels for sale in the latest round and the total receipts from the auction exceeded Rs 3,300 crore, equivalent to Rs 33,000 mn. Stamp duty and other government charges on the winning parcel were reported at nearly Rs 150 crore, or about Rs 1,500 mn, lifting the expected total outlay close to Rs 2,000 crore, or Rs 20,000 mn.

The winning bid translates to nearly Rs 147 crore per acre, or about Rs 1,470 mn per acre, highlighting the premium developers are prepared to pay for large contiguous land in prime locations. The Sector 108 plot is designated for mixed-use development comprising residential and commercial components, according to sources cited by PTI. Godrej Properties had earlier been the highest bidder for a just under five acre residential parcel in Sector 151.

M3M's latest acquisition adds to a series of aggressive land purchases in the Noida market, with the developer having won a 23,570 metre commercial plot for more than Rs 400 crore in January 2025, or about Rs 4,000 mn. Other developers have also paid high sums, including a Max Estates win for a 41,835 metre parcel for more than Rs 700 crore, or Rs 7,000 mn, reflecting sustained demand from large homebuilders and investors.

The auction outcome signals robust appetite for sizeable development sites in Noida and is likely to sustain competition among established developers for strategic land parcels in the near term.