Max Estates Limited has entered into a Binding Memorandum of Understanding (MOU) for a proposed Joint Development Agreement (JDA) involving a ~9.76-acre land parcel in Ghaziabad. This development is expected to unlock a Gross Development Value (GDV) of approximately INR 2,500-3,000 crore. The project, located along National Expressway-3, will feature a super built-up development potential of ~1.5 million sq. ft. The transaction is subject to due diligence and requisite approvals.
Max Estates Enters Binding MOU for Ghaziabad Project
Max Estates Limited (Max Estates), a prominent real estate developer in the NCR region, announced on September 23, 2026, that it will enter into a Joint Development Agreement (JDA) for a significant land parcel. The agreement is for a ~9.76-acre land parcel located in Indirapuram, Ghaziabad. This strategic move marks Max Estates’ foray into Ghaziabad, expanding its footprint beyond existing operations in Noida, Gurugram, and Delhi.
Significant Development Potential
The proposed development is structured on a capital-light basis, with the landowner compensated through a revenue-sharing arrangement. The project envisages a substantial super built-up development potential of approximately 1.5 million sq. ft. This is projected to unlock an estimated Gross Development Value (GDV) ranging from INR 2,500 crore to INR 3,000 crore. The final GDV will be subject to applicable approvals and the final project layout.
Location and Connectivity
The land parcel is advantageously situated along the National Expressway-3, benefiting from a dedicated buffer green belt. It is located approximately 15 minutes by road from the Akshardham Temple. Furthermore, the site overlooks the green buffer zone of the Hindon River, offering excellent connectivity to both Delhi and Noida.
Transaction Conditions
It is important to note that this proposed transaction is contingent upon the satisfactory completion of due diligence. Additionally, the acquisition of all requisite approvals and the formal execution of the JDA are mandatory conditions for the deal to proceed.
About Max Estates Limited
Max Estates Limited is the real estate division of the Max Group, established in 2016. The company is dedicated to building sustainable, Grade A developments in Delhi-NCR with a core focus on enhancing well-being. Max Estates aims to create spaces that foster collaboration, innovation, and community, embodying its ‘LiveWell and WorkWell’ philosophy. The company’s portfolio includes diverse asset classes across strategic locations within Delhi-NCR. Max Estates Limited is listed on both the NSE and BSE.
Source: BSE
