Max Estates enters Ghaziabad with 9.76-acre Indirapuram joint development

Max Estates has signed a binding MoU for a joint development agreement on a 9.76-acre land parcel in Indirapuram, Ghaziabad. The project has an estimated development potential of 1.5 million sq ft and a gross development value of ₹2,500-3,000 crore. The deal marks the company's entry into Ghaziabad,

NEW DELHI: Max Estates has entered into a binding memorandum of understanding (MoU) for a proposed joint development agreement (JDA) for a 9.76-acre land parcel in Indirapuram, Ghaziabad, with an estimated gross development value (GDV) of ₹2,500-3,000 crore.

The proposed project has a super built-up development potential of approximately 1.5 million sq ft. The transaction will be structured on a capital-light basis, with the landowner compensated through a revenue-sharing arrangement.

The transaction will mark the company's entry into Ghaziabad, expanding its NCR presence beyond Noida, Gurugram and Delhi.

The Ghaziabad transaction comes as Max Estates is also expanding in Delhi, where its board recently approved the acquisition of nine land-owning companies holding about 84.71 acres in Sector 3, Najafgarh.

The Delhi land platform has an estimated development potential of four to six million sq ft and a GDV of about ₹10,000-12,000 crore. The transaction, valued at up to ₹420.23 crore, will be undertaken through a non-cash share swap.