Max Group takes up ₹600 cr realty project in NCR

Announcing its entry in the commercial realty sector, Max Group with commanding presence in life insurance, health and allied businesses as well as packaging sectors, has decided to launch a commercial real estate project in Noida at an investment of ₹600 crore. It is building a prime office building in Noida comprising 6 lakh sq.ft space as part of its strategy to create a large portfolio of rental assets by developing a 'Grade A' office complex 'Max Tower' spreading over an area of nearly one acre and located on Delhi-Noida border. The project is expected to be completed by the end of this year and has already started leasing space commanding over ₹100 per sq ft rental rates, said MaxVIL's MD and CEO Sahil Vachani, adding that the group has formed a separate subsidiary Max Estates Ltd to undertake real estate projects. A residential project at Dehradun comprising 22 super luxury villas with a price tag of ₹4.5 crore each has already been completed. It has two large upcoming commercial real estate projects in Delhi-NCR, especially focusing on providing workspaces that cater to the evolving needs of the modern workforce, he added.