After over seven years of uncertainty, Max Estates Limited has successfully taken over the Delhi One project in Noida by acquiring Boulevard Projects Private Limited (BPPL) under the Insolvency and Bankruptcy Code (IBC). The final approvals from NCLT (February 2023) and NCLAT (October 2024) mark the official closure of the acquisition, enabling Max Estates to revive one of NCR’s most ambitious integrated mixed-use developments.

This strategic move brings significant relief to homebuyers who have waited years for progress on the site and places Max Estates at the forefront of premium real estate development in Noida and the broader NCR region.

Project Highlights: Ultra-Luxury Living Meets Commercial Excellence

The Delhi One project, situated at the edge of South Delhi with direct access via the Delhi-Noida-Direct (DND) Flyway, will be a state-of-the-art integrated campus blending luxury, commerce, and wellness. Spread across a 10-acre land parcel (approx. 34,696 sq. m.) with a 2.5 million sq. ft. development potential, it will include:

• Ultra-luxury serviced residences

• Premium office spaces

• Curated high-street retail outlets

• An exclusive lifestyle club

Estimated project value:

• Sales Potential: Over ₹2,000 Crore

• Annuity Rental Income: More than ₹120 Crore

A Boost to Max Estates’ Vision and Portfolio

With this development, Max Estates further cements its reputation as a premium and sustainable developer. The Vice Chairman and Managing Director, Sahil Vachani, expressed the company’s excitement and vision:

“We are delighted to announce that Max Estates has taken over Delhi One. We believe that we will provide a world-class real estate experience to the residents and office goers of the NCR. We look forward to bringing to life our first integrated campus, weaving Max Estates’ philosophy of LiveWell, WorkWell, PlayWell, and EatWell into a holistic downtown experience.”

Focus on Wellbeing, Sustainability, and Design

Max Estates is bringing its philosophy of real wellbeing into reality by developing Delhi One with:

• Green building practices

• Energy-efficient systems

• Biophilic design principles

This design aims to enhance harmony between built environments and nature, promoting physical and mental wellness for residents and workers. Notable features include:

• Homes with natural light, customisable spaces, and comfort-focused layouts

• Offices with flexible designs, cutting-edge technology, and collaborative zones

• Retail spaces with curated offerings designed to enhance lifestyle convenience

Location Advantage: Unmatched Connectivity and Strategic Placement

Situated just steps from key metro stations and major highways, Delhi One is perfectly positioned to benefit from unmatched connectivity across Delhi NCR. Its proximity to South Delhi, as well as commercial hubs in Noida, makes it a prime location for both residents and businesses.

This project is expected to catalyse real estate growth in the area and offer high returns for investors and stakeholders.

Unlocking a Dormant Asset with Market Confidence

Delhi One had once been a promising project, but development stalled due to financial issues. The acquisition by Max Estates—one of NCR’s trusted names in premium and sustainable real estate—brings fresh momentum and market confidence back to the site.

This marks a notable shift in IBC-led resolution success stories, where homebuyer interest, developer credibility, and institutional financing can align for mutual gain.

Conclusion: Max Estates Charts a New Growth Path in NCR

By acquiring and reviving the Delhi One project, Max Estates is not only delivering a long-overdue promise to homebuyers, but is also adding a massive ₹2,000 crore potential pipeline to its balance sheet. As the project moves into its active development phase, Delhi NCR’s real estate market is poised to see one of its most transformative mixed-use developments come to life.

The company’s commitment to wellbeing, premium design, and sustainable practices ensures that Delhi One will be more than just a real estate offering—it will be a community ecosystem built for the future of urban living.

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