Real Estate

Real Estate Transactions

Max gets Noida authority's nod to take over ‘Delhi One’ project; to pay Rs.613-Cr

Economic Times  

Max Estates Ltd, Max Group’s realty arm, has received approval from the Noida authority to take over a commercial project in sector 16B Noida, by clearing INR 613 crore dues owed to the authority.The National Company Law Tribunal (NCLT) had, in February 2023, approved the resolution plan of Max for the development of a commercial plot in Noida admeasuring 34,697 sq m under the project name ‘Delhi One’. The project has the potential to add 2.5-3 million square feet of additional development footprint to the portfolio of Max Estates. The project, spread over 12.5 acres, was started by the 3C group, and it later went into insolvency.