The venture is planned to be created in different stages with a total sales potential abundance of roughly Rs 1,300 crore and will cater to the premium conclusion of the residential market.

Max Estates Limited, a wholly-owned Auxillary of Max Ventures and businesses, on Monday said that it has procured roughly 10 acres of blended-use residential land parcel in Noida at the amount of Rs 306 crore. “Max Estates Limited, the real estate arm of the company will obtain 100% of the value in Accord Hotels and Resorts Private Limited for Rs. 306 Crores. Post the securing, the said company will become a 100% auxiliary of Max Estates Limited,” the $4-bn Max Group said in a statement.

Accord Hotels and Resorts Private Limited hold a completely paid up around 10-acre land that is situated in Sector 128, Noida, which will enable Max Estates to develop a mixed-use residential community. The company’s statement states that the mixed-use residential project will have an estimated saleable area of around 1 Mn Sq. Ft. “this programme will be developed in different phases with a total sales potential in excess of approximately Rs. 1,300 crores and which will cater for the premium end of the market.” Max stated.