Max Estates Revives 'Delhi One' with Major Investment

Max Estates Ltd has announced it will rejuvenate the long-stalled 'Delhi One' project in Noida by investing Rs 1,400 crore. The property will feature ultra-luxury residences, premium offices, and retail spaces. This acquisition aligns with Max Estates' strategy to expand its real estate business in Delhi-NCR.

Realty giant Max Estates Ltd has revealed its plan to resuscitate the 'Delhi One' project in Noida. Through the insolvency process, the company has gained control over the initiative and plans to invest a whopping Rs 1,400 crore to develop the mixed-use property.

The company announced on Thursday that it successfully took over Boulevard Projects Pvt Ltd to jumpstart the long-dormant development, which includes luxury serviced residences, office spaces, and retail units. This follows crucial approvals from NCLT and NCLAT earlier this year.

Max Estates expects the project, with a development potential of 2.5 million square feet, to generate sales close to Rs 2,000 crore. This strategic move is part of the firm's broader goals to expand its footprint in the real estate sector within Delhi-NCR.

(With inputs from agencies.)