The proposed development has a super built-up development potential of around 1.5 million square feet. The transaction will be structured on a capital-light basis, with the landowner to be compensated through a revenue-sharing arrangement.
The proposed transaction is subject to satisfactory completion of due diligence, receipt of all requisite approvals and execution of the JDA.
ALSO READ | Max Estates Q1 Update: Pre-sales surge over 5x to ₹1,100 crore; sells 487 homes
The land parcel is located along National Expressway-3, with a buffer green belt, and is around 15 minutes by road from Akshardham Temple. It overlooks the green buffer zone of the Hindon River and has connectivity from both Delhi and Noida.
The proposed transaction marks Max Estates’ entry into Ghaziabad, extending its NCR footprint beyond Noida, Gurugram and Delhi.
Shares of Max Estates Ltd ended at ₹599.20, up by ₹3.40, or 0.57%, on the BSE.