Max Estates, aims to develop 2 million square feet of property, equally split between residential and commercial development, in the coming years.

Max Estates, a subsidiary of Max Ventures and Industries Ltd (MaxVIL), has set a target to develop 2 million square feet of property, split equally between residential and commercial development, over the next few years. The company plans to launch one residential and one commercial project in both Noida and Gurugram in the next year, and aims to adopt a steady approach to development, with a plan to develop 1 million square feet of residential and commercial property each year.

As part of its expansion plan, Max Estates will invest Rs 3,400 crore over the next five years to develop two housing and two commercial projects in Noida and Gurugram. The company's maiden housing project in Noida, which is likely to comprise 200-250 units, is expected to launch subject to regulatory approval in July-August this year. Max Estates also plans to launch a residential project in Gurugram next year, with around 1200 units, and expects to generate sales revenue of Rs 4,500 crore from these two upcoming housing projects.

Max Estates has mainly focused on commercial development to date, with three premium office complexes in Noida and Delhi comprising around 15.5 lakh square feet of space. Its flagship projects, Max Towers in Noida and Phase 1 of Max House in Okhla, are already operational and fully leased, while the recently completed Max Square project in Noida has also received a completion certificate. Max Estates plans to develop two more office complexes in Noida and Gurugram, comprising 26 lakh square feet of leasable area. The company currently earns around Rs 100 crore from its completed projects, with expectations that this figure will rise to Rs 450-500 crore over the next 4-5 years.