Max Estates Limited, the real estate arm of the Max Group, on Thursday, May 2, announced executing binding agreements for a Group Housing project in Gurugram. The project will be developed over an anticipated 18.23 Acres of land with Gross Development Value (GDV) estimated at INR 9,000 Crore.
The upcoming project has a development area of approximately 4 Mn-SqFt. It will be located adjacent to Max’s existing 11.80 acres of land on Dwarka Expressway in sector 36 A. Max Estates is developing Delhi NCR’s first intergenerational residential community over this land under a Joint Development Agreement (JDA). The project is expected to be launched in Q3 of CY 2024 with an estimated GDV of INR 4,000 Crore.
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Both these projects imply a combined GDV potential of nearly INR 13,000+ Crore in Gurugram. This includes developing and selling an area of over 6.4 Mn-SqFt. With both acquisitions through the Joint Development route, Max Estates is successfully expanding through relatively light capital investments.
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