Max Estates To Develop Rs 9,000 Crore Residential Project In Gurugram

Max Estates Ltd. has agreed to develop a housing project in Gurugram, with a gross development value of around Rs 9,000 crore.

The real-estate arm of the Max Group will develop the project on a 18.23-acre land parcel, with approximately 4 million square feet of development area along the Dwarka Expressway in Sector 36A, it said in an exchange filing on Thursday.

The plot is next to 11.80 acres of land, on which Max Estates had executed a joint development agreement last year. The combined gross development value potential of the land is over Rs 13,000 crore, with a selling area of over 6.4 million sq ft.

The company will launch an integrated residential community in the third quarter of 2024, with a gross development value re-evaluated to Rs 4,000 crore.