September 30, 2024 |
Max Estates Reports Rs 4,100 Crore Pre-Sale from Gurgaon Project
Max Estates Limited has reported Rs 4,100 crore pre-sale from its first residential development in Gurugram.
The company had given Rs 4,000 crore guidance for FY 25 and it has already received a collection of Rs 400 crore.
“As we look forward to introducing new LiveWell experiences, our primary focus remains on the execution of multiple projects and to scale the portfolio by adding 3 mn square feet every year,” said Sahil Vachani, MD & Vice Chairman of Max Estates.
With this Max Estates has revised the guidance for the total Gross Development Value potential of Estate 360 from Rs 4,000 crore to Rs 4,800 crore in FY25.
“The successful launch of Estate 360, has further reinforced Max Estates’ decision to consolidate its presence in this sector by acquiring additional 18.23 acres of land contiguous to current development, earlier this year, through a Joint Development Model (JDA) model. The project is under design and will be launched in phases starting next financial year, with overall development potential of 4 mn square feet and Gross Development Value potential of Rs 9,000 crore,” said Rishi Raj, COO of Max Estates.
Estate 360 is Delhi NCR’s first intergenerational residential community at scale designed by Gensler, a leading global design and architecture firm.
Two of the six residences are dedicated to senior living managed by Antara Senior Living with a dedicated healthcare centre open to all residents of the community. The entire development is an IGBC Platinum Pre-certified incorporating sustainability best practices.
The company has developed a very well diversified portfolio of real estate across the two asset classes in Delhi NCR and in this pursuit has partnered with New York Life Insurance Company (NYL) particularly for commercial office platform.
Source : Et
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