Max Estates to launch first residential project by June 2023.

Max Estates has received building plan approval for Sector 128 Noida Project and plan to launch the residential project of the company by mid of CY 23. The gross development value of the project is estimated to be over Rs. 1,300 crore.

“Despite the global macro-headwinds and rising interest rates, the demand for residential segment pan-India has remained strong. Changing consumer preferences towards ownership, significant improvement in affordability quotient of citizens, and resilience of the domestic economy have been the key driving factors for the rising demand. In addition, the industry is also going through significant consolidation, which has led to incremental market share gains for organised players,” the company said.

The total gross development value between Max Estates’ two planned residential developments is estimated to be over Rs. 4500 crore.

ET