Reliance MET City Achieves 60% Growth In FY23-24

Model Economic Township (MET City), a subsidiary of Reliance Industries, has announced impressive growth figures for the fiscal year ending March 2024. The development, which marks a significant milestone in India's industrial landscape, underscores MET City's commitment to excellence and sustainable urban development.

In a remarkable achievement, MET City recorded a staggering 60 per cent growth in the fiscal year 2023-24. The total number of plots booked during this period stood at 1079, spanning various segments, resulting in a total booking value of INR 1913 crore. This substantial increase demonstrates MET City's robust performance and its pivotal role in shaping India's economic future.

In the fiscal year 2023-24, MET City, a subsidiary of Reliance Industries, witnessed significant milestones across various segments. The industrial segment saw a remarkable surge in plot bookings, with a growth rate of 93 per cent, reaching a booking value of INR 896 Crore, reflecting a 24 per cent increase in prices compared to the previous year. In the residential segment, MET City experienced substantial growth, with a remarkable 70 per cent increase in booking value, reaching INR 1004 Crore in FY24, alongside a 70 per cent surge in prices. 

Additionally, MET City achieved a historic milestone with India's first 100 per cent FDI in defence manufacturing by SAAB of Sweden, underscoring its status as a premier business destination attracting global investments. 

Furthermore, forging strategic partnerships with leading international players and securing agreements for infrastructure expansion, including the establishment of a hospital and a school, further enhanced MET City's stature as a global business hub. With Beumer from Germany joining the city, the total number of companies now exceeds 540 from 10 different countries.

SV Goyal, CEO & WTD of MET City, expressed confidence in the city's trajectory, stating, "With its Plug-n-Play infrastructure, IGBC Platinum rated certification, and partnerships with global industry leaders, MET City has emerged as a premier business destination, attracting investments across diverse sectors."

MET City's accolades include prestigious awards such as the Most Sustainable City award by FICCI, Best Integrated Business City Award by Naredco, and the Urban Planning and Design Excellence award by Naredco, among others. These accolades underscore MET City's commitment to sustainable urban development and community welfare.

With ongoing initiatives in community development and skill training, MET City is poised to shape the economic landscape of Haryana, positioning Jhajjar as one of India's fastest-growing economic destinations.

Model Economic Township Limited (MET City), a subsidiary of Reliance Industries, stands as an exemplar of excellence, crafting a state-of-the-art Integrated Business City sprawled across 8,250 acres in Jhajjar district near Gurugram, Haryana. With top-notch infrastructure, strategic location, and unwavering commitment to quality, MET City embodies India's vision for sustainable urban development and global business excellence.