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Max Estates Announces INR 845 Crore Pre-Sales Booking for Estate 128 Phase II in One Week
Team Finance Saathi
27/Dec/2024
What's covered under the Article:
- Max Estates announces an impressive pre-sales booking value of INR 845 Crores within just a week of launching Phase II of Estate 128 in Noida.
- The successful launch of Phase II contributes to a total INR 5,000 Crore booking value for Max Estates in the first 9 months of FY25.
- The Estate 128 development is part of Max Estates’ commitment to providing high-quality residential and commercial spaces across Delhi NCR.
Max Estates Limited, a key player in premium residential and commercial real estate in Delhi NCR, has achieved significant success with the launch of Phase II of Estate 128, located in Noida. The company is thrilled to announce a remarkable pre-sales booking value of INR 845 Crores within just one week of the launch, surpassing the original guidance of INR 800 Crores for the phase. This performance is a testament to the growing demand for high-quality residential developments in Delhi NCR.
Estate 128 Phase II has now expanded the community, which initially started with three towers in July 2023, to include the fourth tower. The entire development now spans over 10 acres, offering 268 units and a total booking value of approximately INR 2,700 Crores. This development is registered with the UP RERA under the project number UPRERAPRJ294911/12/2024, ensuring compliance with the Real Estate (Regulation and Development) Act, 2016 (RERA).
In addition to this outstanding achievement, Max Estates Limited has already achieved a combined booking value of approximately INR 5,000 Crores in the first nine months of FY25, a significant milestone for the company. This success is driven by the recent launch of Estate 360 in Gurugram and the exceptional demand seen for Estate 128 Phase II. This performance aligns well with the company’s full-year booking value guidance, which stands between INR 4,800–5,200 Crores.
Rishi Raj, Chief Operating Officer at Max Estates, expressed his delight at the market response, stating, “We are delighted with the market’s response to the launch of Estate 128 Phase II. The net price realization for Phase II is at a 40% premium to that of Phase I, reflecting the increasing demand for end-user-oriented and well-designed residential developments. With three consecutive successful launches—Estate 128 Phase I, Estate 360, and Estate 128 Phase II—we continue to demonstrate our ability to deliver quality products at the right locations.”
The development of Estate 128 follows the company’s LiveWell philosophy, focusing on green spaces and enhancing the quality of life through thoughtfully designed residential communities. Estate 128 features 80% green spaces, designed around a landscape that mimics the journey of a river, incorporating diverse biophilia and art installations. The project also boasts large expansive decks in every unit, offering serene views of the central green landscape and the surrounding expressway.
At the heart of Estate 128 lies The Hub, a 46,000 sq. ft. area offering a range of amenities to support residents' holistic well-being. These include a swimming pool, spa, sports facilities, a multipurpose hall, and dining areas.
About Max Estates Limited
Max Estates Limited, established in 2016, is a prominent real estate developer in Delhi NCR and a part of the Max Group. The company focuses on creating premium commercial and residential spaces with a vision to enhance the quality of life through the spaces it builds. Max Estates has developed a diversified portfolio of real estate projects in Delhi NCR, including landmark developments like Max Towers, a premier commercial office space in South Delhi, and Max House, a redevelopment of an office campus.
The company has also ventured into residential real estate, launching successful projects like Estate 128 in Noida and Estate 360 in Gurugram. Max Estates has also partnered with New York Life Insurance Company to establish a commercial office platform, further expanding its portfolio.
With two major commercial office projects under construction, Max Square Two and a new project on Golf Course Extension Road in Gurugram, Max Estates continues to grow its footprint across Delhi NCR in both residential and commercial real estate segments.
Max Estates Limited is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) under the symbol MAXESTATES and Scrip Code 544008 respectively.
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