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.
