Max India Limited filed a regulatory disclosure pursuant to Regulation 30 of SEBI (Listing Regulations and Disclosure Requirements), Regulations, 2015, regarding a press release from its wholly owned subsidiary Antara Senior Living Limited.

The disclosure announces that Contend Builders Private Limited, a Joint Venture Company of Antara Senior Living Limited, has received a partial Occupancy Certificate (OC) for its senior living community at Sector 150, Noida. The OC covers 3 towers and 340 units in Phase I of the development.

Key Quantitative Figures

  • Units Covered: 340 units in Phase I
  • Receivables Unlocked: Approximately ₹150 crore (contingent on possession)
  • Total Development Area: Approximately 12 lakh sq. ft. (1.11 lakh sq. mt.)
  • Phase I Area: Approximately 7.45 lakh sq. ft. (0.69 lakh sq. mt.)
  • Phase II Area: Approximately 4.55 lakh sq. ft. (0.42 lakh sq. mt.)
  • Phase I Revenue: Approximately ₹550 crore
  • Phase II Expected Revenue: Approximately ₹800 crore

Regulatory and Legal Context

The occupancy certificate resolution had been pending due to a sector-wide requirement for collective completion of shared sports facilities across Sector 150 in Noida. The company had completed its designated contribution to the sports facilities and fulfilled all payment obligations.

The company approached the Noida Authority and subsequently the Hon'ble Supreme Court of India to establish that its obligations had been fully discharged. The partial OC was granted based on the company's demonstrated compliance.

Operational Impact

The OC enables possession for 340 senior families who had booked units at Antara Noida. The company's team is reviewing the conditions laid down in the OC and expects to start the possession process soon.

Future Plans

With Phase I progressing toward possession, the company will actively pursue revalidation of approvals for Phase II of the development.

Project Description

The Antara Noida Sector 150 community is designed for seniors seeking an independent and active lifestyle, offering fully finished senior-friendly residences integrated with wellness, round-the-clock medical assistance, and emergency services.

About Antara Senior Care

The disclosure includes background information that Antara is the senior-care business of Max India Limited, part of the $7-billion Max Group. It operates in two main lines of business: Residences for Seniors and Assisted Care Services. The Noida community represents their second senior living community, with their first in Dehradun comprising nearly 200 families.