Noida authority sells land parcels for ₹1100 crore
The Noida real estate market is witnessing unprecedented growth as leading developers continue to make significant investments. Max Estates Limited (Max Estates) and M3M India have recently acquired premium land parcels auctioned by the Noida Authority, further fueling the city’s expansion.
Major Land Acquisitions by Max Estates and M3M India
Max Estates, along with its consortium partners, secured a 10.33-acre mixed-use land parcel in Sector 105, Noida-Greater Noida Expressway, for ₹711 crore. This strategic acquisition is set to house 2.6 million square feet of development, comprising 40% residential (group housing) and 60% commercial (office spaces, retail, and service apartments).
Rishi Raj, COO of Max Estates, highlighted the potential of this project, stating, “The project has a Gross Development Value (GDV) potential of ₹3,000+ crore and an annuity rental income potential of ₹140+ crore. The land acquisition is structured with a deferred payment plan, with an upfront payment of ₹284 crore and the remaining amount payable in eight half-yearly installments.”
With this addition, Max Estates now boasts a 17+ million square feet diversified real estate portfolio across Delhi NCR. The company plans to expand further by acquiring at least 3 million square feet annually across residential and commercial asset classes.
Meanwhile, Gurugram-based M3M India has acquired a 23,570.92 sq. meter plot along the Noida Expressway at Plot No-H6, Sector 97, for ₹400 crore. This marks M3M’s third project in Noida, reinforcing its strategic expansion in the region.
M3M India’s Expanding Presence in Noida
Pankaj Bansal of M3M India emphasized the company’s commitment to Noida’s growth, stating, “Noida is rapidly emerging as a premier real estate destination. This acquisition strengthens our presence and aligns with the commitments made during the Uttar Pradesh Global Investors Summit 2023. Our substantial investments will boost employment, enhance lifestyles, and drive large-scale infrastructure development.”
M3M currently has nearly 6 million sq. ft. under construction in Noida, and with this latest acquisition, its total development footprint will reach 7.5 million sq. ft. The company’s total investment in Noida now stands at ₹9,000 crore, with a combined sales potential of ₹12,500 crore. Additionally, the developments are expected to create 15,000 jobs across various sectors, including construction, logistics, and infrastructure.
Noida’s Growth Fueled by Strategic Investments
Experts note that Noida’s real estate market is experiencing robust growth due to continuous investments and infrastructure advancements. The region’s proximity to key economic corridors, along with the upcoming Jewar International Airport, is enhancing its attractiveness to developers and investors alike.
Benefits of Investing in Noida Real Estate
Investing in Noida’s real estate market offers numerous advantages:
- High Returns: With increasing demand and property appreciation, investors can expect lucrative returns.
- Strategic Location: Noida’s proximity to Delhi, major expressways, and upcoming infrastructure projects makes it a prime real estate destination.
- Growing Commercial Hub: Noida is rapidly evolving into a business and IT hub, attracting multinational corporations and startups, leading to higher rental yields.
- Upcoming Infrastructure: Developments like the Jewar International Airport, metro expansions, and expressways will further boost property values.
- Job Creation & Economic Growth: Large-scale projects bring employment opportunities, benefiting the overall economy and increasing property demand.
With major players like Max Estates and M3M India making substantial acquisitions, Noida is set to solidify its position as one of the top real estate hubs in Delhi NCR. These developments will not only boost property values but also contribute to the region’s overall economic growth.
