Max Estates Ltd. has acquired a 7.25-acre land parcel in Gurugram to develop a housing project expected to generate around ₹3,000 crore, reflecting the company’s plans to expand amid strong market demand.
In a regulatory filing on Saturday, the company stated that its board had approved the acquisition of Base Buildwell Private Limited (BBPL). Consequently, BBPL—a special purpose vehicle holding the license and development rights for the land located in Sector 59, Golf Course Extension Road, Gurugram—will now come under Max Estates’ ownership.
“The outlay associated with the transaction is expected to be around Rs 534 crore, comprising the acquisition of 100 percent of the share capital of BBPL on a fully diluted basis, comprising 10,000 equity shares of Rs 10 each and 2,417,256 compulsorily convertible debentures of Rs 100 each, and project-level payments toward security deposit, purchase of Transferable Development Rights, and related approvals,” the company said.
Moreover, developers estimate that the land can support 1.3 million square feet of construction, which could generate sales bookings exceeding ₹3,000 crore.
“The acquisition aligns with the company’s premium residential strategy in Delhi-NCR,” Max Estates said.
Following the acquisition, BBPL will become a wholly owned subsidiary of Max Estates. As one of India’s leading real estate firms, Max Estates has a strong presence in the Delhi-NCR region and is engaged in developing residential and commercial office complexes.
