Max Estates Acquires 7.25-Acre Gurugram Land for Rs 3,000 Crore Housing Project
NEW DELHI: Max Estates Ltd has acquired a 7.25-acre land parcel in Gurugram to develop a housing project with an estimated revenue of Rs 3,000 crore, reflecting the company’s plans to expand amid strong market demand.
In a regulatory filing on Saturday, the company stated that its board has approved the acquisition of Base Buildwell Private Limited (BBPL), a special purpose vehicle holding the license and development rights for the land located in Sector 59, Golf Course Extension Road, Gurugram.
Max Estates said the total investment for the transaction is expected to be around Rs 534 crore. This includes the acquisition of 100% of BBPL’s share capital on a fully diluted basis—comprising 10,000 equity shares of Rs 10 each and 24,17,256 compulsorily convertible debentures of Rs 100 each—along with project-level payments for security deposits, Transferable Development Rights (TDR), and related approvals.
The land has a development potential of 1.3 million square feet, with projected sales bookings exceeding Rs 3,000 crore. “The acquisition is in line with the company’s premium residential strategy in the Delhi-NCR region,” Max Estates noted.
Following the completion of this transaction, BBPL will become a wholly-owned subsidiary of Max Estates. The company is among India’s leading real estate developers, with an established presence in Delhi-NCR, focusing on residential and commercial projects.
