Max Estates Acquires 5.5-Acre Noida Plot for ₹272 Crore Mixed-Use Project
Max Estates Ltd has acquired a 5.5-acre land parcel in Sector 132, Noida, for approximately ₹272 crore through an e-auction, marking another addition to its real estate development portfolio in the National Capital Region (NCR).
The H-DREAM Fund is one of the earliest private real estate credit funds in the world which has been dedicated to financing green, affordable, and mid-income housing. It funds residential projects based on the EDGE green building system.
The EDGE standards promote construction based on resource efficiency.
SuMiTB's investment has gone through HDFC Capital's offshore feeder fund structure which has been established under the IFSCA framework in Gujarat International Finance Tec-City (GIFT City).
HDFC Capital Advisors manages more than $5 billion worth of investments in its funds with the focus on affordable and mid-income residential projects.
Land Payment and Project Revenue Potential
The total bid value for the land is approximately ₹272 crore. Under the payment arrangement, 40% of the amount is payable within 60 days of allotment, while the remaining balance will be settled in instalments over four years.
The proposed project is estimated to generate revenue of ₹1,500 crore to ₹2,000 crore. Max Estates also expects to earn lease income from the commercial and retail components, although the company has not disclosed a detailed breakdown of the anticipated income from these segments.
Sahil Vachani, Vice Chairman and Managing Director of Max Estates, described the acquisition as a strategic addition to the company's Noida portfolio. He said the purchase reflects the company's approach to land acquisition and its strategy of replenishing a phased, multi-year development pipeline.
Strengthening Its NCR Development Portfolio
The latest acquisition is expected to increase Max Estates' overall future revenue potential to nearly ₹32,000 crore, according to Vachani.
Max Estates, the real estate arm of Max Group, has a presence in the Delhi-NCR property market through residential and commercial developments. The new land parcel adds to its development pipeline and expands its presence in Noida's Sector 132.
With residential, commercial and retail components planned on the site, the acquisition represents another step in the company's efforts to expand its mixed-use development portfolio across the NCR region.
