Max Estates acquires development rights on 7.25 acre Gurugram land with Rs 3,000 cr development value

Max Estates

Delhi NCR-based developer Max Estates Ltd announced that it has secured development rights on a 7.25 acre land parcel at Gurugram’s Golf Course Extension Road, through acquisition of Base Buildwell Pvt Ltd, which holds licence and development rights on the land.

In a release, Max Estates said that the outlay towards the transaction is expected to be around Rs 534 crore. The land has a development potential of around 1.3 million square feet, with a gross development value of more than Rs 3,000 crore, the release said.

While Max Estates has a strong portfolio in Noida, the firm has also looked to expand its footprint in the Gurugram market, with a portfolio of around 10 million square feet. The firm has centred its growth in the city largely along the Dwarka Expressway and the Golf Course Extension Road (GCER).

“This marquee deal is a significant milestone in Max Estates’ journey of building NCR’s most trusted luxury real estate brand. It furthers our unwavering commitment to curate ‘LiveWell ’ and ‘WorkWell’ experiences across key development vectors in Delhi NCR, including Noida Expressway, Dwarka Expressway and GCER. GCER is today among the most vibrant residential hubs, and this project will strengthen our growing footprint in Gurugram ”, said Sahil Vachani, Vice Chairman and Managing Director, Max Estates.

In Gurugram, Max Estates reported strong sales at its Estate 360 project at Sector 36A along the Dwarka Expressway, with pre-sales of Rs 4,800 crore. Next to Estate 360, the firm is planning a 18.23 acre development, which has a gross development value of Rs 9,000 crore, and has a development potential of around 4 million square feet.