Max Estates, a subsidiary of Max Ventures & Industries (MaxVIL), has leased approximately 62,500 sq ft at its Max Towers in Noida, Uttar Pradesh to Yes Bank, which plans to relocate its offices from the Central Business District to the new location as part of its exercise to rationalise cost. Yes Bank has taken 62,500 sq ft spread across 2.5 floors of Max Towers.
In the last six months, Max Estates has also leased approximately 25,000 sq ft at Max Towers to Indian Energy Exchnage (IEX), India’s first and largest power trading platform. It has so far leased around 3,90,000 sq ft at Max Towers, which is located on the Delhi-Noida Directway (DND).
Some of the firms which have taken spaces at Max Towers include the coworking brand Spaces, owned by International Workplace Group. Other marquee office tenants include Khaitan & Co, Emerson, Veolia, ESRI, Udacity, Grass Valley, Kama Aryuveda and Castus Legal.
Built with an investment of about Rs 600 crore, with a net leasable area of over 5.5 lakh sq ft, Max Towers is a 21-storey Grade A+ commercial office tower, constructed in 24 months.
Yes Bank is taking the area at Max Towers to consolidate its office space across several locations in Delhi. MaxVIL is also in talks with some other corporates and some of them are likely to fructify soon.
Max Towers will provide its occupants an energy-efficient and green work environment, a technology-enabled smart workspace and a vibrant food & recreation hub. It is the only office building in Delhi-NCR to provide an indoor swimming pool and a comprehensive fitness centre to aid the wellness of its employees.
MaxVIL’s other commercial real estate projects include Max House, Okhla, Delhi. Phase-1 of Max House, Okhla, comprising around 1,05,000 sq ft leasable area, has been launched for leasing recently, while Phase-2 of the project of similar size is targeted to start construction in Q4/FY21.
Moreover, Max Estates recently commenced construction of its third commercial realty project in Noida to be built at a cost of Rs 400 crore, having New York Life Insurance Company as financial partner.
As part of its strategy, the company is evaluating development opportunities in Gurugram as its next destination to fill the deficit in Delhi-NCR of developer-owned and developer-managed office space providing top notch experience to its occupiers.