Max Estates to take over Delhi One project; will pay Rs 6.13 billion

14 Aug 2024 CW Team

Max Estates, the real estate division of Max Group, has secured approval from the Noida authority to take over the stalled 'Delhi One' commercial project in Sector 16B, Noida. The company will settle Rs 6.13 billion in dues owed to the authority as part of the resolution plan. In February 2023, the National Company Law Tribunal (NCLT) approved Max Estates? plan to develop the 34,697 square meter commercial plot. The NCLT required Max to obtain the Noida authority's approval for the project. Originally, the Noida authority had Rs 9.32 billion in dues associated with the project. Max Estates, under the resolution plan, proposed paying approximately Rs 3.25 billion. However, Max Estates has now agreed to increase this amount, offering to pay Rs 5.42 billion over three years, totalling Rs 6.13 billion including interest. The company will make a 25% upfront payment.

The 'Delhi One' project, which spans 12.5 acres, has the potential to expand Max Estates? portfolio by adding 2.5?3 million square feet of new development. Originally initiated by the 3C Group, the project had stalled due to insolvency.

Max Estates is expected to invest around Rs 20 billion to develop 2.8 million square feet of Grade A office space and serviced apartments. Currently, the project includes four operational towers, with additional commercial and serviced apartment towers under construction. A retail block is also being developed, with nearly 50% of the civil work on the new towers completed. The project?s remaining approvals are anticipated to take between six months to a year. (ET)

Infrastructure Transport

10 Jul 2026

Uttar Pradesh unveils infrastructure-led growth roadmap at RAHSTA

Mumbai, 9 July 2026: Uttar Pradesh’s ambitious infrastructure-led growth strategy took centre stage on Day 2 of the 16th RAHSTA Expo, where senior government officials outlined how expressways, industrial corridors and technology-driven governance are transforming the state into one of India's most attractive investment destinations.Delivering the keynote address, Srihari Pratap Shahi, IAS, Additional Chief Executive Officer, Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), highlighted the state's long-term vision of integrating world-class expressways with industrial dev..

NCW closes PRIME Offices Fund at Rs 40 billion

Nuvama and Cushman & Wakefield Management (NCW) has announced the final close of its flagship PRIME Offices Fund at approximately Rs 40 billion, exceeding its original target of Rs 30 billion following strong investor demand.The fund was launched to provide Indian investors with access to institutional-grade commercial office assets across key office markets in the country. According to NCW, the increase in the fund size was supported by strong investor participation and the availability of investment opportunities in India's office sector.The fund has already committed around 45 per cent ..

Mayfair Housing adopts Autodesk Forma for digital project planning

Mayfair Housing has entered into a three-year strategic partnership with Autodesk to deploy Autodesk Forma, an AI-enabled cloud platform, as part of its digital transformation programme aimed at improving project planning and execution across its development and redevelopment portfolio.The platform will be integrated into the company's Building Information Modelling (BIM) workflow to support architects, planners and project teams during the early stages of design and development. Autodesk Forma combines real-world data, environmental simulations and collaborative workflows to facilitate data-d..