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Pre-sale refers to the sale of properties before they are constructed, a common practice in the real estate sector. The company is on track to launch the National Capital Regions first intergenerational residential community in the July-September quarter of 2024, with a revenue potential of Rs 4,000 crore.
New York Life Insurance Co. has invested Rs 388 crore for a 49% equity stake in two commercial projects in Delhi and Noida by Max Estates' SPV. This makes New York Life a 49% partner in all commercial projects by Max Estates in Delhi-NCR. The two buildings are Max Tower in Noida and Max House in Okhla, with a total leasable area of around 600,000 sq ft. Max Towers and Max House are operational commercial real estate projects in Noida and Delhi. Max Estates will hold 51% in the two SPVs after the transactions.
This investment will enable Max Estates to deliver on its aspired growth trajectory of acquiring at least 2 mn sq ft of development opportunity every year
Taking a significant stride towards becoming the foremost real estate brand and fortifying its business endeavours Max Estates Limited proudly announces the appointment of Mr. Anthony Malloy and Mr. Atul B Lall to its board as Additional Directors.
The realty firm said that the phase 2 of the development has a net leasable area of 1.5 lakh square feet but when combined with Phase 1, the campus has 2.55 lakh sq ft of leasable area