Max Estates has announced plans to invest Rs 3,400 crore in the development of two housing and two commercial projects in Noida and Gurugram over the next few years. The company has already developed three premium office complexes in Noida and Delhi, covering around 15.5 lakh square feet, as well as a small boutique luxury housing project in Dehradun. Max Estates has acquired a land parcel in Noida and entered into a joint development agreement with a landowner for a housing project in Gurugram. The company will launch a housing project in Noida in July, comprising 250 units, while the Gurugram project, with 1,200-1,400 units, is scheduled for launch next year. Additionally, Max Estates will develop two office complexes in Noida and Gurugram, covering 26 lakh square feet of leasable area, and is expecting sales revenue of Rs 4,500 crore from its upcoming housing projects.
To finance the capital-intensive commercial projects, Max Estates has partnered with New York Life Insurance Company as an equity partner at the project level. New York Life Insurance has committed ₹800 crore to Max Estates' commercial projects and has a 23% stake in MaxVIL, which is listed on stock exchanges. Recently, New York Life Insurance announced a ₹290 crore investment to acquire a 49% stake in Max Estates' upcoming commercial project in Gurugram.