Max Estates acquires 10.33 acre land in Noida for Rs 711 cr

Max Estates 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 Rs 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 Rs 3,000+ crore and an Annuity Rental Income potential of Rs 140+ crore. The land acquisition is structured with a deferred payment plan, requiring an upfront payment of Rs 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).

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