On this land tract, MaxVIL, a subsidiary of Max Group, intends to build a commercial project with a leasable area of 1.6 million square feet, marking its entry into the Gurugram real estate market. It already has a footprint in the property marketplaces of Noida and Delhi.
The acquisition will allow Acreage Builders’ over 7-acre land tract in Gurgaon’s lucrative Golf Course Extension Road to be used by the company.
Max Estates, the Max Group’s real estate subsidiary, is scheduled to purchase Acreage Builders for Rs 322.50 crore. On September 7, 2022, Max Ventures & Industries, one of the three holding companies of the $4 billion Max Group, made this announcement.
This Is How Max Estates Intends To Build Grade A Commercial Space
Max Estates is Max Ventures and Industries’ wholly owned subsidiary. The transaction, which is subject to regulatory approval, is expected to close in February 2023. Acreage Builders will become a completely owned subsidiary of Max Estates following the transaction.
Acreage Builders has been granted permission to build a commercial property on 7.15 acres of land on Golf Course Extension Road, one of Gurgaon’s most promising future micro marketplaces.
On this property, Max Estates intends to build Grade A+ commercial space. The total leasable space exceeds 1.6 million square feet. The current acquisition would allow Max Estates to realize its goal of becoming a significant real estate player in Delhi and the National Capital Region.
Max Enters Gurgaon With These Residential And Commercial Projects
“With this elite deal, we enter into Gurugram, a prominent market for commercial real estate in Delhi NCR as well as across India.” “The deal will further expand our CRE collection’s regional footprint and help us reach our goal of being a prominent player in the Delhi NCR,” said Sahil Vachani, MD & CEO of MaxVIL.
“He says, “our major focus is to consolidate organisational capacity and competences to drive continuous execution across both commercial and residential projects in Gurugram, unlocking Multi-fold value for all our stakeholders.”
Source- ET
