New Delhi: Max Group is poised to breathe new life into the stalled Delhi One project in Noida’s Sector 16A. The company has secured the necessary approvals from the Noida Authority to take over the project from the beleaguered 3C Group.
Originally envisioned as a mixed-use development comprising a five-star hotel, service apartments, and office space, Delhi One encountered significant hurdles, leading to its stagnation. Max Estates, the real estate arm of Max Group, has stepped in to salvage the project through a comprehensive resolution plan approved by the National Company Law Tribunal (NCLT) in February 2023.
To execute this revitalization, Max Estates will invest a substantial Rs 542 crore into the project itself. Additionally, the company will disburse Rs 613 crore to the Noida Authority to clear outstanding dues related to the project. This substantial financial commitment underscores Max Group’s confidence in the project’s potential and its determination to transform it into a thriving development.
By taking over Delhi One, Max Group aims to not only complete the stalled project but also elevate it to new heights. The company’s proven track record in real estate development, coupled with the strategic location of the project, positions it well to create a landmark development that will contribute significantly to Noida’s skyline and economy.
The successful acquisition of Delhi One marks a significant milestone for Max Estates and reinforces the company’s position as a key player in the NCR real estate market.
