NewsVoir
Gurugram (Haryana) [India], April 7: M3M India has announced the receipt of the Occupancy Certificate (OC) for M3M Paragon57, its flagship mixed-use development in Sector 57, Gurugram. The milestone marks the project's readiness for occupancy and operations, further strengthening the company's position in the premium retail and serviced apartment segment.
Spread across 3.16 acre, M3M Paragon57 comprises a total of 554 units, with a saleable area of approximately 5 Lac sq. ft. The project integrates high-street retail with serviced apartments, aligning with evolving urban consumption patterns and demand for integrated developments.
The project will achieve a topline of approximately Rs. 1,000 crore with an investment of Rs. 560 crore, reflecting strong market response and investor confidence.
M3M Paragon57 is poised to become one of the landmark destinations in Gurugram, offering a vibrant and well-curated mix of retail, lifestyle, and dining experiences. The development will feature prominent anchor brands such as Westside, LuLu Hypermarket, and Jetts Fitness India, ensuring strong footfall and a dynamic shopping environment. Complementing these anchors is an extensive lineup of popular retail, fashion, food and beverage brands, including Levi's, CaratLane, Looks Salon, Puma, GIVA, Honey & Dough, BlueStone, Aretto, Bewakoof, Blue Tokai, Mini Klub, Nobero, Wrogn, Lime Light, Just In Time, and Pepe Jeans, among others.
Robin Mangla, President, M3M India said, "The receipt of the Occupancy Certificate for M3M Paragon57 is a significant milestone. It reflects our commitment to timely delivery and quality execution. We have already pre-leased approx. 60% of the retail space, underscoring robust demand from leading brands and operators. The development is expected to emerge as a key commercial and lifestyle destination in the Sector 57 micro-market. The strong pre-leasing traction highlights the growing demand for curated retail environments and integrated developments in Gurugram."
M3M Paragon57 stands out because of its strong, ready-to-use location advantage. It sits in a well- developed and densely populated area (Sushant Lok Phase 3) surrounded by premium residential societies and daily footfall drivers, which is ideal for retail. The project enjoys excellent connectivity, being just off Golf Course Extension Road with smooth access to Sohna Road and other key parts of Gurugram, along with proximity to the Sector 55-56 Rapid Metro. Its catchment includes affluent residents with high spending capacity, making it suitable for premium retail and F&B outlets. Unlike projects in developing zones, this location already has established infrastructure like schools, hospitals, and offices, reducing risk and improving business viability.
The completion of M3M Paragon57 comes at a time when Gurugram's commercial real estate market is witnessing renewed momentum. Developers across the region are focusing on mixed-use and high-street retail formats to cater to changing consumer behaviour.
Industry experts note that high-street retail developments with strong catchment areas and curated tenant mixes are increasingly outperforming traditional mall formats. The rise in pre-leasing activity across projects signals growing retailer confidence and sustained consumer demand.
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