Real estate developer Max Estates Limited, along with its minority consortium partners, has secured a 5.5-acre land parcel in Sector 132, Noida, for approximately ₹272 crore through an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA). The company plans to develop a mixed-use project comprising residential, commercial, retail and amenity components on the acquired land.
The allotment of the plot, identified as COMM-01, is part of Max Estates’ expansion strategy in the National Capital Region (NCR). The proposed development has an estimated gross development value (GDV) of ₹1,500-2,000 crore and is also expected to generate recurring lease income from its commercial, retail and amenity components.
Five Lakh Sq Ft Development Potential
The acquired land parcel has a permissible floor area ratio (FAR) of 2.0, providing development potential of approximately five lakh sq ft. The proposed mixed-use project will include residential spaces alongside commercial and retail developments, supported by amenities.
The development is subject to applicable regulatory approvals and development permissions. The company expects the project to contribute to its residential and commercial portfolio in Noida while creating an additional source of recurring rental income through the leasing of commercial and retail spaces.
Under the payment terms of the e-auction, 40% of the bid value, amounting to approximately ₹108.8 crore, will be payable within 60 days of allotment. The remaining 60% will be paid in instalments over four years. This payment structure allows the company to spread the land acquisition cost over the stipulated period.
Acquisition Strengthens Noida Portfolio
Commenting on the acquisition, Sahil Vachani, Vice Chairman and Managing Director of Max Estates, said the land parcel represents a strategic addition to the company’s Noida portfolio. He stated that the acquisition is consistent with its approach of adding smaller, faster-turn development opportunities alongside larger land parcels.
The company follows a phased land acquisition strategy to maintain a multi-year development pipeline. Its approach involves securing larger land parcels for long-term development while adding smaller projects that can support development activity and new launches.
The latest acquisition is expected to strengthen Max Estates’ presence in the NCR residential and mixed-use property market. It also provides an opportunity to expand its development activities across residential, commercial and retail segments.
Development Pipeline Reaches ₹31,958 Crore
With the addition of the Sector 132 land parcel, Max Estates’ residential and mixed-use development pipeline has increased to approximately ₹31,958 crore in GDV. The company is targeting new project launches of around two million sq ft annually as part of its expansion plans.
The acquisition reflects the company’s continued focus on expanding its land portfolio and increasing its development potential across Delhi-NCR. By combining residential development with commercial and retail components, the proposed project is expected to contribute both development revenue and recurring lease income.
The Sector 132 project will add to the company’s development pipeline, while its estimated GDV of ₹1,500-2,000 crore represents an additional opportunity to strengthen its presence in Noida’s real estate market.
