New Delhi, Dec 27 (PTI) Realty firm Max Estates Ltd has sold 67 luxury residential homes for Rs 845 crore in Noida amid strong demand.

In a regulatory filing on Friday, Max Estates said its subsidiary Max Estates 128 Pvt Ltd has successfully launched the second phase of its residential project 'Estate 128' in Noida.

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"Building on the success of the first phase, the second phase has achieved a pre-sales booking value of Rs 845 crore within a week of its launch, and has surpassed the company's original guidance of Rs 800 crores as the booking value potential for this phase," Max Estates said.

The company did not disclose the number of units sold for Rs 845 crore and the price per apartment.

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However, market sources said the company launched 67 units in one residential tower and sold all units at a price of Rs 25,000-26000 per square feet.

The project, combining both phases, will now comprise four towers with 268 units, spanning 10 acres and a total booking value of about Rs 2,700 crore.

Rishi Raj, Chief Operating Officer at Max Estates, said the market response has been very good for the second phase of 'Estate 128' project in Noida.

"The net price realization in Phase II is at a 40 per cent + premium to that of Phase I, and it clearly reflects the high demand for thoughtfully designed, end-user oriented residential developments," he said.

"Three back-to-back successful launches in a span of 18 months — starting with Phase I of Estate 128, Noida, in July 2023, followed by Estate 360, Gurugram, in August 2024, and Estate 128-II, Noida, in December 2024—clearly affirm our ability to not only curate a good-quality product at the right location, but also our capability to bring it to the market...," Raj said.

Max Estates said it has already achieved a booking value of about Rs 5,000 crore in the first nine months of 2024-25. This performance is well within the company's full-year guidance of Rs 4,800-5,200 crore.

Established in 2016, Max Estates Ltd is the real estate arm of the Max Group.

The company has developed a very well-diversified portfolio of real estate across the two asset classes in Delhi-NCR.

The company has developed three commercial projects -- Max Towers in Noida, Max House in Delhi and Max Square on Noida Expressway. It has also built 222 Rajpur, a luxury residential villa community on Rajpur Road, Dehradun.

The company has two under-construction commercial office projects -- Max Square Two, adjacent to Max Square and a project located on main Golf Course Extension Road in Gurugram.

On the residential front, the company has successfully launched and sold its first project 'Estate 128' in Noida. It has launched a second project, Estate 360, in Gurugram.

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