Realty firm Max Estates has purchased a 10.33-acre land parcel in  Noida, for Rs 711 crore to develop a mixed-use real estate project. This acquisition, done in partnership with a consortium, was made through allotment from the Noida Development Authority.

The land, located in Sector 105 along the Noida-Greater Noida Expressway, offers a development potential of 2.6 million sq. ft., divided into 40 percent residential (Group Housing) and 60 percent commercial space, including offices, retail outlets, and service apartments. The project holds significant growth potential, with an estimated Gross Development Value (GDV) of over Rs 3,000 crore and an annuity rental income potential exceeding Rs 140 crore.

The payment structure for the acquisition involves an upfront payment of Rs 284 crore, with the remaining amount to be settled in eight half-yearly instalments. This addition brings Max Estates' total real estate portfolio to over 170 lakh sq. ft., diversifying its presence across Delhi-NCR.