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Max Estates Limited (Max Estates), a leading real estate developer in the NCR, along with its consortium partners, announces the acquisition of a strategically located 10.33 acre mixed-use land parcel in Sector 105 on Noida-Greater Noida Expressway, for INR 711 Crore.
Secured through allotment from NOIDA, this acquisition presents an opportunity to develop 2.6 mn square feet with 40 percent Residential (Group Housing) and 60 percent Commercial (including Office, Retail and Service Apartments).
The project has a Gross Development Value (GDV) Potential of INR 3,000+ Crore and an Annuity Rental Income potential of INR 140+ Crore. The land acquisition is structured with a deferred payment plan, requiring an upfront payment of INR 284 Crore, with the balance payable in eight half-yearly instalments.
With this acquisition, Max Estates now has a total real estate portfolio of 17+ mn square feet well diversified across Delhi NCR in terms of geographical footprint (Delhi, Noida and Gurugram), asset classes (Residential and Commercial) and risk spectrum (delivered, under construction, under design and in acquisition).
On the residential front, post successful launch of Estate 128 and Estate 360 with combined booking value of INR 7,500 Crore, Max Estates already has a launch pipeline of over 7 mn square feet with Gross Development Value (GDV) potential of INR 14,000+ Crore to be delivered in FY 26 and FY 27. And, the commercial portfolio of Max Estates now has annuity rental income potential (across delivered, under construction and in acquisition) of over INR 700 Crore on a 100% basis.
Commenting on this development, Rishi Raj, COO of Max Estates said, “We are delighted with the acquisition of the mixed-use development opportunity adding 2.6 mn square feet of development potential to our portfolio, a rare opportunity in a supply deficit market like Noida to meet our growth aspiration across both asset classes that Max Estates focusses on – Residential and Commercial segments. The combination of location attractiveness, our familiarity with both commercial and residential micro markets in vicinity and our track record of delivering world class product in terms of quality and end-user experiences, will go a long way in unlocking significant value for all stakeholders. As a part of our stated growth aspiration, Max Estates will continue to acquire at least 3 mn square feet across Residential and Commercial asset classes every year to further scale its portfolio leveraging capital raised through QIP, New York Life Insurance’s investment in Max Towers and Max House, Preferential allotment of Warrants as well as other sources like Lease Rental Discounting.”
