Max Estates Limited has achieved a significant milestone with its maiden project in Gurgaon, Estate 360, by recording a pre-sales booking value of approximately Rs 4,100 crore within just 30 days of its launch.
The project, located on the Dwarka Expressway in Sector 36A, Gurgaon, was launched on August 27, 2024. This robust response has surpassed the company's FY25 guidance of Rs 4,000 crore, prompting Max Estates to revise its gross development value target for Estate 360 to Rs 4,800 crore for FY25.
Project Details and Design
Estate 360 is Delhi NCR's first intergenerational residential community at scale, designed by the global design and architecture firm Gensler. The project is tailored to meet the needs of different generations, featuring intentional design, natural landscapes, and shared spaces with over 60 amenities. Two of the six residences are dedicated to senior living, managed by Antara Senior Living, and include a dedicated healthcare centre open to all residents.
The project is currently in the design phase and will be launched in phases starting next financial year. It has an overall development potential of around 4 million square feet and a gross development value potential of approximately Rs 9,000 crore.
Market Impact and Expansion Plans
The success of Estate 360 has strengthened Max Estates' position in the NCR real estate space. The company's shares surged over 3% to Rs 627 in early trade following the announcement, reflecting the market's positive response to the pre-sales figures.
Max Estates has also acquired an additional 18.23 acres of land adjacent to the current development through a Joint Development Agreement (JDA), further reinforcing its decision to consolidate its presence in the sector.
Sahil Vachani, MD and Vice Chairman of Max Estates, emphasized the company's focus on executing multiple projects and scaling the portfolio by adding approximately 3 million square feet every year.
