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Max Estates says its board has approved acquisition of Base Buildwell Private Limited (BBPL), a project SPV holding license, and development rights over 7.25 acre of land.
The acquisition aligns with the company’s premium residential strategy in Delhi-NCR, says Max Estates.
Max Estates on Saturday said it has acquired a 7.25-acre land in Sector 59, Gurugram, to develop a housing project with an estimated revenue of Rs 3,000 crore, as the company intends to expand business amid strong demand.
The company said its board has approved acquisition of Base Buildwell Private Limited (BBPL).
“This deal entails the purchase of 100% shareholding in Base Buildwell Private Limited (BBPL), a project SPV holding license, and development rights over 7.25 acre of land, subject to regulatory approvals and closing conditions,” Max Estate said in a regulatory filing on Saturday.
Base Buildwell is a special purpose vehicle holding licence and development rights over the 7.25-acre land parcel located at Sector 59, Golf Course Extension Road in Gurugram.
“The outlay associated towards the transaction is expected to be around Rs 534 crore, comprising the acquisition of 100 per cent of the share capital of BBPL on a fully diluted basis comprising 10,000 equity shares of Rs 10 each and 24,17,256 compulsorily convertible debentures of Rs 100 each, and project-level payments toward security deposit, purchase of Transferable Development Rights, and related approvals,” the company said.
The estimated development potential on this land is 1.3 million square feet, while sales booking value would be more than Rs 3,000 crore.
“The acquisition aligns with the company’s premium residential strategy in Delhi-NCR,” Max Estates said.
Upon completion of this transaction, BBPL will become a wholly-owned subsidiary of the company. Max Estates is one of the leading real estate companies in the country. It has a presence in Delhi-NCR. The company is developing housing and office complexes.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 06, 2025, 16:14 IST
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