Max Group Forays into Real Estate with Rs 600 Crore Building

Business conglomerate Max Group has forayed into commercial real estate with an investment of Rs 600 crore to develop a prime office building in Noida comprising 6 lakh sq ft area as part of its strategy to create a large portfolio of rental assets. Max Group, which has a commanding presence in life insurance, health and allied businesses as well as packaging sectors, is developing a 'Grade A' office complex 'Max Tower' spread over nearly one acre of land located on Delhi-Noida border. The project is expected to be completed by the end of this year and hence, the company has started leasing space in this building that commands over Rs 100 per sq ft rent. The group's listed entity Max Ventures and Industries Ltd (MaxVIL) has formed a separate subsidiary Max Estates Ltd to undertake real estate projects. A residential project at Dehradun comprising 22 super luxury villas with a price tag of Rs 4.5 crore each has already been completed.