Max Estates: ₹3,000 Cr Ghaziabad Development

plans a 1.5 million sq ft project in Ghaziabad with estimated GDV of ₹2,500–3,000 crore. Max Estates has entered into a binding MoU for a proposed Joint Development Agreement covering approximately 9.76 acres in Indirapuram, Ghaziabad. The proposed development has around 1.5 million sq ft of super built-up potential and an estimated gross development value of ₹2,500–3,000 crore. The transaction remains subject to due diligence, approvals and execution of the final JDA. The development expands Max Estates' Delhi-NCR residential pipeline into Ghaziabad. The structure is also relevant because the company is pursuing the project through a development arrangement rather than purchasing the entire land parcel outright. My view is that the ₹3,000 crore figure should not be treated as immediate revenue. The project still needs approvals, a final agreement, construction and eventual sales. The key question is how quickly Max Estates can convert the development potential into bookings and cash flows. I will watch the final JDA, regulatory approvals, project launch and booking velocity. Stance: Tracking the project for approval, launch and monetisation progress. Disclosure: Add your actual holding, position or interest disclosure before publishing.