Max Estates Ltd has announced the successful takeover of the long-delayed ‘Delhi One’ project in Noida through the insolvency resolution process, with plans to invest ₹1,400 crore to develop the mixed-use property.
According to a regulatory filing, the company has acquired 100% equity in Boulevard Projects Pvt Ltd, the entity behind the Delhi One development, bringing an end to a seven-year wait. The acquisition was completed through the allotment of 34,000 new equity shares to Max Estates and its nominees, effective April 23, 2025.
The project is envisioned as an integrated mixed-use development, featuring ultra-luxury serviced residences, high-end office spaces, and premium retail areas.
Max Estates received the final go-ahead to take over the project after securing approvals from the National Company Law Tribunal (NCLT) in February 2023 and the National Company Law Appellate Tribunal (NCLAT) in October 2024.
“The company is acquiring the Delhi One Project pursuant to a Resolution Plan, and the total capital commitment, including settlement of outstanding liabilities, is estimated to be ₹1,400 crore,” Max Estates said.
This strategic acquisition unlocks substantial development potential, with approximately 2.5 million square feet planned — including units that have already been sold.
“The project is expected to generate a total sales potential of approximately Rs 2,000 crore, along with an annuity rental income potential of around ₹120 crore,” Max Estates said.
The company said the acquisition of this stalled project is in line with its strategy to expand real estate business.
Max Estates has developed a few office complexes in Delhi-NCR and has entered the residential segment as well.
With the successful acquisition of Boulevard Projects Pvt Ltd and the revival of the long-stalled Delhi One project, Max Estates is set to transform a key location in Noida into a premium mixed-use destination. Backed by regulatory approvals and a planned investment of ₹1,400 crore, the project marks a major milestone in the company’s growth strategy, reflecting its commitment to delivering high-quality real estate developments with long-term value.
