Zee News Probes Gurugram Land Deal Linked to M3M Group

• Allegations relate to a 9.26-acre land parcel on Golf Course Extension Road

• Zee News claims the land was auctioned despite a Delhi High Court stay

• Property value has reportedly surged to nearly ₹900 crore

New Delhi: An investigation conducted by Zee News has alleged irregularities in a high-value land transaction in Gurugram, linking the deal to the M3M Group. The report has raised concerns over compliance with judicial orders, transparency in auction processes, and the alleged role of intermediary companies in the transaction.

According to the investigation, the case involves a 9.26-acre land parcel in Sector 62, located along Gurugram’s Golf Course Extension Road—one of the most premium and rapidly developing real estate corridors in the National Capital Region. Zee News claims that the land, which was valued at approximately ₹534 crore around a decade ago, was acquired for close to ₹300 crore, significantly below its estimated market value at the time.

Alleged Violation of High Court Orders

The investigation states that in 2018, the Delhi High Court had issued a stay on the sale or auction of the land. Despite this, Zee News alleges that the property was later auctioned, potentially in contravention of the court’s directions.

The channel further claims that the auction price was nearly ₹234 crore lower than the land’s assessed value, raising questions about whether proper valuation and auction safeguards were followed. Zee News has alleged that the buyer entity was connected to the same banking group that facilitated the auction process.

Claims of Intermediary or ‘Front’ Entities

Zee News has also pointed to the alleged use of intermediary companies in the transaction. According to documents cited in the investigation, multiple entities were involved in funding and executing the deal. The report claims these companies were used to route loans and financing in a manner that ultimately enabled the acquisition of the land at a discounted price.

A senior legal expert quoted by Zee News suggested that, if proven, the transaction could indicate not only a breach of the High Court’s stay order but also a possible misuse of the insolvency and auction framework. The expert reportedly stated that such practices, if established, could amount to misleading lenders and regulators.

Sharp Rise in Land Value

Highlighting the strategic importance of the location, Zee News noted that the land’s value has appreciated significantly since the alleged transaction. Current estimates reportedly place the land’s worth at around ₹900 crore.

The channel cited nearby ultra-luxury developments to underline the location’s premium status. It referred to projects such as DLF Camellias, where individual apartments and penthouses are reported to command prices running into tens of crores, reflecting the corridor’s transformation into a high-end residential hub.

Response Awaited from M3M Group

Zee News stated that it has sought responses from the M3M Group regarding the allegations, but no official comment had been received at the time of publishing the report. The channel said it plans to continue examining the matter under its investigative series “Operation Real Loot”, and may release further findings based on documents and official records.

The allegations, while yet to be independently verified or adjudicated, bring renewed focus on transparency, valuation integrity, and judicial compliance in high-value urban land deals. Experts note that as cities like Gurugram expand rapidly, stricter oversight of auctions and insolvency-linked transactions becomes critical to maintaining trust in India’s real estate ecosystem.