Max Estates Enters Ghaziabad With Rs 3,000 Crore Project

Max Estates expands its NCR footprint with a proposed 9.76-acre residential project in Ghaziabad’s Indirapuram, offering around 1.5 million sq ft of development potential and an estimated ₹2,500–3,000 crore GDV.

Max Estates expands its presence across the Delhi-NCR real estate market with a proposed joint development project in Indirapuram, Ghaziabad. The company enters into a binding Memorandum of Understanding (MoU) for a proposed Joint Development Agreement (JDA) covering approximately 9.76 acres of land, with an estimated gross development value (GDV) of ₹2,500–3,000 crore.

The proposed development offers around 1.5 million sq ft of super built-up development potential. The project marks Max Estates’ entry into Ghaziabad as the developer continues to expand its residential portfolio across key NCR markets, including Noida, Gurugram and Delhi.

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The land parcel is located along National Expressway-3 in Indirapuram. According to the company, the site benefits from a buffer green belt and overlooks the green buffer zone of the Hindon River. It is also approximately a 15-minute drive from Akshardham Temple, while offering connectivity to both Delhi and Noida.

The transaction follows a capital-light development structure, with the landowner expected to receive compensation through a revenue-sharing arrangement. Under this model, Max Estates does not need to acquire the land outright, allowing it to add development potential while limiting the upfront capital requirement.

However, the proposed transaction remains subject to satisfactory completion of due diligence, receipt of all requisite approvals and execution of the final JDA. The estimated GDV is also dependent on applicable approvals and the final development plan.

The Ghaziabad project comes shortly after Max Estates expands its NCR pipeline through a proposed acquisition of approximately 84.71 acres in West Delhi’s Najafgarh. That transaction is structured as a non-cash share-swap arrangement and carries an estimated GDV of ₹10,000–12,000 crore over the coming years.

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Max Estates has been strengthening its residential development pipeline following strong sales across its existing projects. The company reports FY26 pre-sales of ₹5,305 crore, while its residential portfolio includes projects such as Estate 128 and Estate 105 in Noida and Estate 360 and Estate 361 in Gurugram.

The proposed Indirapuram development therefore adds another residential micro-market to Max Estates’ NCR strategy. With its location along a major expressway and connectivity with Delhi and Noida, the project is positioned to expand the company’s presence in Ghaziabad while adding approximately 1.5 million sq ft to its development pipeline.