Max Estates Share Price Surges Over 5%: To Enter a Prosposed JDA for a Land Parcel in Ghaziabad

Max Estates is looking at a new project in Ghaziabad after signing a binding Memorandum of Understanding for a proposed Joint Development Agreement. The land parcel is spread across about 9.76 acres in Indirapuram, as per the exchange filing. 

The proposed development could cover around 1.5 million sq. ft. of super built-up area. Max Estates has estimated the project's gross development value at ₹2,500-3,000 crore.  

Project Comes Up in Indirapuram 

The land is located in Indirapuram, along National Expressway-3. The site also overlooks the green buffer zone of the Hindon River and has access from both Delhi and Noida.  

The company said the location is around a 15-minute drive from Akshardham Temple. 

Development Could Cover 1.5 Million Sq. Ft. 

Max Estates sees a super built-up development potential of roughly 1.5 million sq. ft. on the land parcel. 

At present, the company has put the estimated GDV at ₹2,500-3,000 crore. The actual development potential will depend on the final layout and applicable approvals.  

Capital-Light JDA Structure 

The proposed project will follow a capital-light joint development model.  

Under the arrangement, the landowner is proposed to receive compensation through a revenue-sharing structure.  

Ghaziabad Becomes a New NCR Market 

The project would take Max Estates into Ghaziabad and add another location to its NCR presence, which the company currently describes as extending across Delhi, Noida and Gurugram.  

Max Estates said the transaction will move ahead after due diligence, the required approvals and execution of the Joint Development Agreement.  

Read More: PB Fintech and Turtlemint Share Price Drop 20% After IRDAI Consultation Paper! 

Max Estates Share Price Performance  

As of 24 September 2026, at 10:59 AM, Max Estates Ltd share price is trading at ₹633.60 per share, reflecting a surge of 5.04% from the previous trading session. 

Conclusion 

Max Estates is considering a 9.76-acre development in Indirapuram with a potential 1.5 million sq. ft. of super built-up area. The company has estimated a ₹2,500-3,000 crore GDV for the project, although the proposed JDA is yet to be executed. 

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