Max Estates Ventures into Gurugram with Ambitious Residential Project
Max Estates Ltd has acquired 7.25 acres in Gurugram to develop a housing project aimed at generating Rs 3,000 crore in revenue. The acquisition of Base Buildwell Private Limited marks a strategic move to expand in the Delhi-NCR market amidst strong demand for premium residential properties.
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- India
Max Estates Ltd is set to further its dominance in the Delhi-NCR real estate scene by acquiring a 7.25-acre land in Gurugram. The land will host a new housing project aimed at raking in approximately Rs 3,000 crore in revenue.
In a decisive move, Max Estates secured Base Buildwell Private Limited, which holds developmental rights for the well-located parcel on Golf Course Extension Road, Gurugram. This acquisition comes after the company's board approved the purchase.
The transaction, valued at Rs 534 crore, encompasses full ownership of 10,000 equity shares and convertible debentures of BBPL. Max Estates's acquisition aligns with its pursuit of top-tier residential projects in the region, strengthening its real estate portfolio in the competitive Delhi-NCR market.
(With inputs from agencies.)
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