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Max Estates, the real estate arm of Max Ventures and Industries Limited (MaxVIL), has entered the residential real estate market in Gurugram through a joint development agreement (JDA) with Namo Realtech Private Limited to develop 12 acres housing project.
According to a statement issued by MaxVIL, the project has a development with a potential of approximately 2.4 million square feet and a gross development value of Rs 3,200 crore.
The land parcel is approximately 11.8 acres in size and is located in Sector 36A Gurugram, with direct access to the Dwarka Expressway. The 150-meter-wide Dwarka Expressway links Gurugram and Delhi.
The site is near the expressway, the Central Peripheral Road (CPR), and the Haryana government’s Global City plan, which envisions a futuristic Central Business District of Delhi-NCR.
The financial year 2023 was a turning moment in the company’s real estate business’s growth journey. We will end the Financial year 2023 with a real estate portfolio of approximately 8 million square feet, which is well diversified in terms of geographical footprint across Delhi, Noida, and Gurugram, including residential and commercial assets.
“Our focus remains on exceptional design, sustainability, and consumer experiences supported by our WorkWell and LiveWell philosophy,” said Sahil Vachani, MD and CEO of Max Ventures & Industries Limited.
Max Estates Limited, founded in 2016, is Max Group’s real estate arm and a wholly owned subsidiary of MaxVIL. Its flagship projects include the commercial office space Max Towers, which opened in 2019 on the outskirts of South Delhi, Max House, a redevelopment of an office campus, and 222 Rajpur, a luxury residential villa community on Rajpur Road in Dehradun.
The company has also partnered with New York Life Insurance Company (NYL) for its third commercial project, Max Square, in Delhi-NCR. It has recently entered the residential market, with its first project planned for development in Noida.
Source- Economic times