Max Estates Limited on Monday announced that it has launched its first residential development in Gurugram, Estate 360 on 27th August 2024 and within 30 days of the launch, it has garnered a pre-sales booking value of approximately Rs 4,100 crore surpassing the guidance of around Rs 4,000 crore provided by the company for FY25. The company said that it has already received a collection of about Rs 400 crore.
With this launch, Max Estates revised the guidance for the total gross development value potential of Estate 360 from Rs 4,000 crore to around Rs 4,800 crore in FY25.
Sahil Vachani, MD & Vice Chairman, Max Estates, said, “We are overwhelmed by the response to our first inter-generational offering in Gurugram. The two successful launches – Estate 128 (Noida) in FY 24 and Estate 360 (Gurugram) in FY 25 at market leading price points and velocity, clearly establishes Max Estates’ ability to seamlessly curate Location, Product Quality and End User experience to enable holistic well-being through the LiveWell philosophy.”
“As we look forward to introducing new LiveWell experiences, our primary focus remains on the execution of multiple projects and to scale the portfolio by adding around 3 million square feet every year,” he added.
Rishi Raj, COO of Max Estates, said, “The successful launch of Estate 360, located in Sector 36A, Dwarka Expressway, Gurugram, has further reinforced Max Estates’ decision to consolidate its presence in this sector by acquiring additional 18.23 acres of land contiguous to current development, earlier this year, through a Joint Development Model (JDA) model. The project is under design and will be launched in phases starting next financial year, with overall development potential of ~4 million square feet and Gross Development Value potential of ~Rs 9,000 crore.”
Estate 360 is designed by Gensler, a global design and architecture firm. It is designed with a deep understanding of generational needs, and endeavours to bring people together through intentional design, natural landscape and shared spaces covering more than 60 amenities catering to different age groups, cultures and lifestyles.
Two of the six residences are dedicated to senior living managed by Antara Senior Living with a dedicated healthcare centre open to all residents of the community. The entire development is an IGBC Platinum Pre Certified incorporating sustainability best practices.
From: financialexpress
Financial News
