A\u00a0joint\u00a0development\u00a0agreement\u00a0has\u00a0been\u00a0signed\u00a0by\u00a0Max\u00a0Estates,\u00a0the\u00a0real\u00a0estate\u00a0division\u00a0of\u00a0the\u00a0Max\u00a0Group,\u00a0for\u00a0the\u00a0development\u00a0of\u00a018.23\u00a0acres\u00a0of\u00a0land\u00a0in\u00a0Gurgaon.\u00a0The\u00a0project\u00a0has\u00a0the\u00a0potential\u00a0to\u00a0generate\u00a0revenue\u00a0of\u00a0Rs\u00a09,000\u00a0crore.<\/p>\n\n\n\n
This\u00a0land\u00a0tract\u00a0is\u00a0adjacent\u00a0to\u00a0the\u00a011.80\u00a0acres\u00a0of\u00a0existing\u00a0land\u00a0on\u00a0the\u00a0Dwarka\u00a0Expressway\u00a0in\u00a0Gurugram’s\u00a0sector\u00a036\u00a0A,\u00a0on\u00a0which\u00a0Max\u00a0Estates\u00a0executed\u00a0a\u00a0Joint\u00a0Development\u00a0Agreement\u00a0(JDA)\u00a0the\u00a0previous\u00a0year.\u00a0The\u00a0land\u00a0has\u00a0the\u00a0potential\u00a0to\u00a0accommodate\u00a0nearly\u00a04\u00a0million\u00a0square\u00a0feet\u00a0of\u00a0development.<\/p>\n\n\n\n
With\u00a0a\u00a0revaluated\u00a0revenue\u00a0potential\u00a0of\u00a0Rs\u00a04,000\u00a0Crore,\u00a0the\u00a0firm\u00a0is\u00a0on\u00a0pace\u00a0to\u00a0open\u00a0the\u00a0first\u00a0intergenerational\u00a0residential\u00a0community\u00a0in\u00a0the\u00a0Delhi\u00a0NCR\u00a0in\u00a0Q3\u00a0of\u00a0CY\u00a02024.<\/p>\n\n\n\n
This aids Max Estates in solidifying its 30 acer holding in sector 36A of the Dwarka Expressway, which has become a sought after luxury residential area in Gurugram as a result of significant infrastructure improvements. <\/p>\n\n\n\n
Both\u00a0options\u00a0suggest\u00a0that\u00a0by\u00a0building\u00a0and\u00a0selling\u00a0an\u00a0area\u00a0larger\u00a0than\u00a06.4\u00a0million\u00a0square\u00a0feet,\u00a0Gurugram\u00a0might\u00a0generate\u00a0a\u00a0total\u00a0revenue\u00a0potential\u00a0of\u00a0Rs\u00a013,000\u00a0crore\u00a0over\u00a0time.<\/p>\n\n\n\n
“Securing at least 2 million square feet of development opportunity in Delhi NCR year for Max Estates is a key component of our stated expansion strategy. Max Estates’ portfolio, which is highly well diversified in terms of asset classes (commercial office and residential), geographic footprint (Noida, Delhi, and Gurugram), and risk spectrum (delivered and under construction), will grow by 50% from 8 to 12 million square feet of development potential after this transaction closes, according to COO Rishi Raj of Max Estates.<\/p>\n\n\n\n
The legally binding agreement calls for working with the landowner to obtain a license under the Transit Orient Development (TOD) policy and securing development opportunities through JDAs over the course of three tranches.<\/p>\n\n\n\n
New\u00a0York\u00a0Life\u00a0Insurance\u00a0Co.\u00a0recently\u00a0declared\u00a0that\u00a0it\u00a0would\u00a0invest\u00a0a\u00a0total\u00a0of\u00a0Rs\u00a0388\u00a0crore\u00a0to\u00a0purchase\u00a0a\u00a049%\u00a0interest\u00a0in\u00a0two\u00a0of\u00a0Max\u00a0Estates’\u00a0commercial\u00a0projects,\u00a0one\u00a0in\u00a0Noida\u00a0and\u00a0one\u00a0in\u00a0Delhi.<\/p>\n\n\n\n
At\u00a0the\u00a0moment,\u00a0New\u00a0York\u00a0Life\u00a0owns\u00a022.67%\u00a0of\u00a0Max\u00a0Estates,\u00a0which\u00a0is\u00a0listed\u00a0publicly. Additionally,\u00a0it\u00a0owns\u00a049%\u00a0of\u00a0the\u00a0equity\u00a0in\u00a0Max\u00a0Estates’\u00a0new\u00a0commercial\u00a0developments\u00a0in\u00a0the\u00a0Delhi-NCR,\u00a0which\u00a0include\u00a0Max\u00a0Square,\u00a0which\u00a0is\u00a0already\u00a0functioning\u00a0on\u00a0the\u00a0Noida\u00a0Expressway,\u00a0as\u00a0well\u00a0as\u00a0two\u00a0ongoing\u00a0projects:\u00a0Max\u00a0Square\u00a0Two,\u00a0which\u00a0is\u00a0being\u00a0built\u00a0next\u00a0to\u00a0Max\u00a0Square,\u00a0and\u00a0one\u00a0on\u00a0Gurugram’s\u00a0Golf\u00a0Course\u00a0Extension\u00a0Road.<\/p>\n\n\n\n
The\u00a0company\u00a0successfully\u00a0launched\u00a0and\u00a0sold\u00a0Estate\u00a0128\u00a0in\u00a0Noida,\u00a0its\u00a0first\u00a0residential\u00a0project,\u00a0in\u00a02023. It\u00a0intends\u00a0to\u00a0begin\u00a0work\u00a0on\u00a0its\u00a0second\u00a0project\u00a0in\u00a0Gurugram\u00a0during\u00a0the\u00a0first\u00a0part\u00a0of\u00a0this\u00a0year.<\/p>\n","protected":false},"excerpt":{"rendered":"
A\u00a0joint\u00a0development\u00a0agreement\u00a0has\u00a0been\u00a0signed\u00a0by\u00a0Max\u00a0Estates,\u00a0the\u00a0real\u00a0estate\u00a0division\u00a0of\u00a0the\u00a0Max\u00a0Group,\u00a0for\u00a0the\u00a0development\u00a0of\u00a018.23\u00a0acres\u00a0of\u00a0land\u00a0in\u00a0Gurgaon.\u00a0The\u00a0project\u00a0has\u00a0the\u00a0potential\u00a0to\u00a0generate\u00a0revenue\u00a0of\u00a0Rs\u00a09,000\u00a0crore. This\u00a0land\u00a0tract\u00a0is\u00a0adjacent\u00a0to\u00a0the\u00a011.80\u00a0acres\u00a0of\u00a0existing\u00a0land\u00a0on\u00a0the\u00a0Dwarka\u00a0Expressway\u00a0in\u00a0Gurugram’s\u00a0sector\u00a036\u00a0A,\u00a0on\u00a0which\u00a0Max\u00a0Estates\u00a0executed\u00a0a\u00a0Joint\u00a0Development\u00a0Agreement\u00a0(JDA)\u00a0the\u00a0previous\u00a0year.\u00a0The\u00a0land\u00a0has\u00a0the\u00a0potential\u00a0to\u00a0accommodate\u00a0nearly\u00a04\u00a0million\u00a0square\u00a0feet\u00a0of\u00a0development. With\u00a0a\u00a0revaluated\u00a0revenue\u00a0potential\u00a0of\u00a0Rs\u00a04,000\u00a0Crore,\u00a0the\u00a0firm\u00a0is\u00a0on\u00a0pace\u00a0to\u00a0open\u00a0the\u00a0first\u00a0intergenerational\u00a0residential\u00a0community\u00a0in\u00a0the\u00a0Delhi\u00a0NCR\u00a0in\u00a0Q3\u00a0of\u00a0CY\u00a02024. This aids Max Estates in solidifying its 30 acer holding in sector 36A of the Dwarka Expressway, which has become a sought after luxury residential area in […]<\/p>\n","protected":false},"author":1,"featured_media":9905,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"breadcrumbs_single_post":"","page_title_panel":"","breadcrumbs_single_page":"","single_page_alignment":"","single_page_margin":"","page_structure_type":"","content_style_source":"","content_style":"","blog_post_streched_ed":"","blog_page_streched_ed":"","has_transparent_header":"","disable_transparent_header":"","vertical_spacing_source":"","content_area_spacing":"","single_post_content_background":"","single_page_content_background":"","single_post_boxed_content_spacing":"","single_page_boxed_content_spacing":"","single_post_content_boxed_radius":"","single_page_content_boxed_radius":"","disable_featured_image":"","disable_post_tags":"","disable_author_box":"","disable_posts_navigation":"","disable_comments":"","disable_related_posts":"","disable_header":"","disable_footer":"","footnotes":""},"categories":[14,12,17,13],"tags":[],"class_list":["post-9904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-business","category-inspiration","category-real-estate","rishi-post"],"_links":{"self":[{"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/posts\/9904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/comments?post=9904"}],"version-history":[{"count":0,"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/posts\/9904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/media\/9905"}],"wp:attachment":[{"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/media?parent=9904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/categories?post=9904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dreamworldproperties.in\/blog\/wp-json\/wp\/v2\/tags?post=9904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}