Excelsior Correspondent
JAMMU, Apr 17: Model Economic Township Limited (MET City), a subsidiary of Reliance Industries Ltd, has reported a remarkable 60% growth in the completed fiscal year of 2023-24.
With a total of 1079 plots booked across all segments, the financial year saw a booking value of INR 1913 crore, a significant increase from the previous year.
As per a statement, the industrial segment witnessed a staggering 93% growth in plot bookings, reaching a booking value of Rs. 896 Crore in FY24, compared to Rs. 468 Crore in FY23.
Prices also surged by 24% compared to the previous year. Similarly, the residential segment experienced notable growth, with a 70% increase in plot bookings, resulting in a booking value of Rs. 1004 Crore in FY24, compared to Rs. 620 Crore in FY23. Prices in this segment rose by 70% as well.
MET City achieved several milestones, including the groundbreaking of India’s first 100% FDI in defense manufacturing by SAAB of Sweden. The facility will produce world-class Carl Gustaf Weapon systems for the Indian armed forces. Additionally, agreements were secured for the establishment of a hospital and a school, enhancing the city’s offerings and amenities.
With the addition of Beumer from Germany, the total number of companies in MET City has surpassed 540 from 10 different countries. SV Goyal, CEO & WTD of MET City, attributed this growth to the city’s plug-and-play infrastructure, IGBC Platinum-rated certification, and diverse portfolio of companies from various countries.
He highlighted MET City’s commitment to sustainable development and its role as a premier business destination in India.
As one of the rapidly expanding business hubs in North India, MET City stands out as a preferred destination for industries across sectors like defense, engineering, electronics, auto components, medical devices, FMCG, footwear, plastics, and consumer products. The city has also received prestigious awards for its sustainable urban development and community initiatives.
MET City, sprawled across 8,250 acres in Jhajjar district near Gurugram, boasts top-notch infrastructure and unrivalled connectivity to the Delhi NCR region.
With completed trunk infrastructure, including a 220 kV substation, water treatment facilities, and well-planned road networks, MET City is one of India’s largest Indian Green Building Council Platinum Rated Greenfield Smart Cities.
More than just a location, MET City represents a dynamic ecosystem that actively shapes sustainable urban development and lays the groundwork for global business excellence.
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