Max Estates Ltd. has recorded ₹4,100 crore in pre-sales bookings for its residential project, Estate 360, located in Sector 36A, Dwarka Expressway, Gurugram, within just 30 days of its launch.
As a result of the project’s overwhelming response, the company has revised its guidance for the total gross development value potential from ₹4,000 crore to ₹4,800 crore for FY25.
As reported by the Hindustan Times, Max Estates had initially provided guidance of ₹4,100 crore for the project for the fiscal year 2025, but it has already secured ₹400 crore in collections within the first month of launch, according to the company’s statement released on September 30, 2024.
Due to the successful pre-sales, Max Estates has expanded its development plans for Estate 360. The company acquired an additional 18.23 acres of land adjacent to the current project site through a Joint Development Agreement (JDA) earlier this year. The project is set to expand to a total development potential of approximately 4 million square feet, with an anticipated gross development value of around ₹9,000 crore once fully developed.
Rishi Raj, Chief Operating Officer of Max Estates, said, “The successful launch of Estate 360 has further reinforced Max Estates’ decision to consolidate its presence in this sector by acquiring additional land.” He added that the project is currently under design and will be launched in phases, starting in the next financial year.
Estate 360 is a pioneering project, marking Delhi NCR’s first intergenerational residential community at scale. Designed by Gensler, a globally recognized design and architecture firm, the development features six residences, two of which are dedicated specifically to senior living, managed by Antara Senior Living. This senior living offering will be equipped with a dedicated healthcare center that will be open to all residents within the community.
Max Estates aims to provide LiveWell experiences, with a focus on creating living spaces that foster a high-quality lifestyle across different age groups. This reflects their broader strategy to introduce innovative and customer-centric residential projects.
As part of its long-term growth strategy, Max Estates plans to add 3 million square feet of new development annually. Sahil Vachani, Managing Director and Vice Chairman of Max Estates, said, “Our primary focus remains on the execution of multiple projects and expanding the portfolio by adding approximately 3 million square feet every year.”
This expansion is part of the company’s vision to scale its real estate portfolio across Delhi NCR and other key markets, driven by the success of Estate 360 and other ongoing projects.
The exceptional demand for Estate 360 underscores the appeal of Gurugram, particularly the Dwarka Expressway corridor, as a prime residential destination in Delhi NCR. Max Estates’ decision to acquire additional land and expand the project further indicates their confidence in the region’s real estate market. The project’s innovative intergenerational living concept is expected to set a new benchmark in residential development, catering to a wide range of homebuyers.
Max Estates’ expansion and its focus on delivering large-scale residential projects reinforce its role as a key player in the NCR’s burgeoning real estate sector.