Max Estates, the real estate subsidiary of Max Ventures and Industries Limited, has decided to enter the residential real estate market in Gurugram through a mutual agreement on development. The development has a potential of about 2.4 million square feet and a gross development value of more than Rs 3,200 crore.
The 11.8-acre tract of property lies in Gurugram’s Sector 36A and is easily accessible from the Dwarka Expressway. Gurugram and Delhi are connected by the 150-meter-wide Dwarka motorway, and in the last five years, both sides of this motorway have experienced a significant increase when it comes to commercial and residential construction.
By virtue of the site’s strategic location at the intersection of the motorway, central peripheral road (CPR), and projected metro corridor, it provides great connection to Gurugram’s primary and secondary commercial sectors, including Cyber City, Golf Course Road, and southern periphery road (SPR). The property is also close to the Haryana government’s proposed global metropolis plan, which is meant to be a futuristic version of Delhi-central NCR’s business area.
Max Estates will attempt to adopt its LiveWell philosophy here, which focuses on the overall welfare and happiness of its residents across all age groups, after successfully implementing its WorkWell philosophy in its commercial properties. The first multigenerational community in the area will be built by Max Estates.
Max Estates expanded its reach into the residential development sector in Noida following the success of its commercial developments in Delhi and Noida, and it also just declared the development of a commercial plot in Gurugram. Following this deal, the business would also be in Gurugram’s residential sector.
Sahil Vachani, MD & CEO of Max Ventures & Industries Ltd, stated that FY2023 had been a pivotal year in the company’s real estate division’s ascent. With this purchase, Max Estates will have an 8 million square foot real estate portfolio by the end of the fiscal year 2023. This portfolio is well-diversified between residential and commercial properties and spans Delhi, Noida, and Gurugram. They emphasise outstanding design, sustainability, and customer experiences built on their LiveWell and WorkWell philosophy.
With this move by Max Estates, Gurugram stands tall among other NCR cities when it comes to attracting real estate companies and developers to construct residential and commercial properties, thereby expanding their portfolios. Since Gurugram is a hotspot for several Fortune 500 MNCs and unicorn start-ups, the demand for housing and commercial buildings has skyrocketed.
