M3M India Achieves Record Rs 40,000/Sq Ft for Jacob & Co. Branded Residences in Noida, Sells Out Units Rapidly

M3M India has set a new benchmark in Noida's real estate market by selling out all 5BHK units at its recently launched Jacob & Co.-branded luxury residences. The company achieved a record pricing of Rs 40,000 per square foot for these ultra-luxury apartments, a first for any residential project in the city. While the base price started at Rs 35,000 per square foot, the final traded price, including preferred location charges (PLC) and parking, reached the Rs 40,000 per square foot mark.

The project offers premium luxury residences in 3, 4, and 5 BHK configurations, with prices ranging from Rs 14 crore to Rs 25 crore. A typical 5BHK apartment spans around 6,400 square feet, with a ticket price of approximately Rs 25 crore. The sell-out of these exclusive 5BHK units occurred rapidly, within just 3 to 4 days of their launch, highlighting robust demand for branded luxury homes and a changing perception of Noida as a premium residential address.

This development is part of a larger project with a total investment of Rs 2,100 crore spread across six acres in Noida Sector 97, along the Noida-Greater Noida Expressway. The overall development is projected to generate a revenue of Rs 3,500 crore. This is the first branded residence project in India by the globally renowned luxury brand Jacob & Co., known for its high-jewellery timepieces.

Impact:

The success of the Jacob & Co.-branded homes signifies a major shift in Noida's luxury housing sector. Experts believe it has elevated the city's aspirational value, with buyers willing to pay a premium for exclusivity and global design standards. The trend reflects rising wealth creation, a growing appetite for international luxury brands, and a post-pandemic preference for premium, amenity-rich homes. This development could encourage more developers to launch ultra-luxury inventory in the region, potentially boosting property values and investor interest in the Noida micro-market.

Rating: 8/10

Definitions:

• Branded Residences: These are residential properties (apartments, villas) that are developed, managed, or licensed by a well-known brand, often from the hospitality, fashion, or luxury goods sector. They offer services and design elements associated with the brand, promising exclusivity, high quality, and a specific lifestyle.
• 5BHK: Stands for five bedrooms, hall, and kitchen, indicating the configuration of a large residential unit.
• Preferred Location Charges (PLC): An additional charge levied by real estate developers for units located in more desirable positions within a project, such as those offering better views, higher floors, or proximity to amenities.
• High-net-worth buyers: Individuals with significant liquid financial assets, typically defined as over $1 million USD, who are potential buyers for luxury and high-value properties.
• Ultra-luxury: Refers to properties that offer the highest level of finishes, amenities, exclusivity, and services, exceeding the standards of even standard luxury housing.