New Delhi: Max Estates, the real estate arm of Max Ventures & Industries Limited (MaxVIL), is expecting a revenue of ₹1,800 crore from its first luxury residential project, said MaxVIL managing director Sahil Vachani.

The company had acquired 10 acres in Noida through the acquisition of 100% equity in Accord Hotels and Resorts Private Limited, which holds the land as its only asset.

With around one million sq ft of saleable area, Max Estates has sold the project, Estate 128, at ₹18,000 per sq ft, making it the costliest project in Noida.

"Our stated aspiration is to scale the portfolio by at least one million square feet each in residential and commercial asset classes every year across Delhi-NCR (National Capital Region) and become the most preferred developer in the region," Vachani told ET. "With approval of amalgamation of MaxVil and Max Estates Limited. MEL will get listed as a pure play real estate company."
The project will include a 46,000 sq ft club and 80% of the area will be green.

"We expect to start construction of the project by the third quarter of 2023 and achieve completion in 48-60 months, well within committed RERA (Real Estate Regulatory Authority timelines," said Rishi Raj, chief operating officer, Max Estates.