Transaction Details

Max Estates Limited, along with minority consortium partners, has received allotment of Plot No. COMM-01 in Sector 132, Noida, admeasuring approximately 5.5 acres. The land parcel was secured through an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA) under Scheme 2025-26 (Builder Plot-IV).

The bid value for the land parcel is approximately INR 272 crore. The payment structure is capital-efficient and phased: 40% of the amount is payable within 60 days of allotment, with the balance amount payable in instalments over 4 years, in line with NOIDA's scheme terms.

Development Potential and Financial Implications

The plot carries a permissible Floor Area Ratio (FAR) of 2.0, translating into approximately 5 lakh sq. ft. of FAR potential for an integrated mixed-use development. The development will comprise residential, commercial, retail, and amenities components, subject to applicable approvals and development regulations.

This development is estimated to generate a Gross Development Value (GDV) of approximately INR 1,500-2,000 crore. It is expected to generate lease income from the commercial and retail components upon completion.

Strategic Rationale and Location

Strategically located in Sector 132, Noida, the land parcel is within a 10-minute radius of Max Estates' operational and under-construction assets—Max Square, Estate 128, and Estate 105. This acquisition reinforces the company's core Noida cluster and strengthens its presence in its core market.

The acquisition fits the company's "Trunk-and-Branch" land strategy, serving as a smaller, faster-turn "Branch" addition that complements larger anchor "Trunk" parcels such as the ~85-acre Najafgarh land parcel announced in August 2026. This approach is consistent with the company's aspiration to add approximately 2 million sq. ft. of new launches each year.

Pipeline Impact and Management Commentary

This acquisition increases the company's overall residential/mixed-use GDV pipeline to approximately INR 31,958 crore (updated from ~INR 30,958 crore mentioned earlier in the release).

Sahil Vachani, Vice Chairman & Managing Director of Max Estates, commented: "This is a strategic addition to our Noida portfolio and reflects the disciplined, opportunistic approach we bring to land acquisition. Sector 132 sits at the heart of our core operating cluster, minutes from Estate 128 and Estate 105, and gives us a faster-turn and capital-efficient addition to the portfolio. This win is consistent with our strategy of continuously replenishing a phased, multi-year development pipeline, and we expect it to further strengthen our growth trajectory in the NCR residential and mixed-use market."

Corporate Background

Max Estates Limited is the Real Estate arm of Max Group, established in 2016. The company focuses on building sustainable, grade A developments in Delhi-NCR with a focus on well-being. Its current and planned developments are diversified across various asset classes in key strategic locations across Delhi-NCR. Max Estates also has a real estate services & management company – Max Asset Services. The company is listed on NSE and BSE.