Max Estates and M3M Group Noida land auction
Max Estates and M3M Group Secure Prime Commercial Plots in Noida Authority’s ₹1,500 Crore Auction
In a significant development for Noida’s real estate sector, Max Estates and M3M Group have emerged as top bidders in the Noida Authority’s recent commercial land auction, collectively securing properties worth over ₹1,500 crore.
Max Estates’ Landmark Acquisition
Max Estates has successfully acquired the largest plot on offer, spanning approximately 41,835 square meters in Sector 105, for over ₹700 crore. This prime parcel includes a 40% allocation for residential development, aligning with Max Estates’ commitment to creating integrated spaces that enhance urban living.
M3M Group’s Strategic Expansion
M3M India has secured a substantial 23,570 square meter plot in Sector 97 for over ₹400 crore. This acquisition marks M3M’s strategic entry into the Noida market, with plans to develop a mixed-use project comprising residential, retail, and serviced apartments. The project is expected to commence in the first quarter of 2025, bringing significant investment and generating approximately 10,000 direct jobs.
Other Notable Bids
The auction also saw other significant transactions:
Mangalam Group acquired a 24,000 square meter plot in Sector 98 for ₹400 crore.
Vertex Construction secured an 812 square meter plot in Sector 50.
All these land parcels are designated for commercial development, potentially featuring retail and office complexes, further bolstering Noida’s position as a commercial hub.
Implications for Noida’s Real Estate Market
These strategic acquisitions by prominent developers underscore the growing appeal of Noida as a prime destination for commercial and mixed-use developments. The infusion of substantial investments is poised to stimulate economic growth, create employment opportunities, and enhance the region’s infrastructure.
For more updates on Noida’s evolving real estate landscape, stay connected with Setu Realtors.
