Max Estates leases 80,000 sq ft to Cyril Amarchand Mangaldas at Noida Max Towers

NEW DELHI: Max Estates, a subsidiary of Max Group’s listed entity, Max Ventures & Industries Ltd. (MaxVIL), has leased close to 80,000 sq ft. at Max Towers, Noida to Cyril Amarchand Mangaldas (CAM), a leading legal firms.

The developer that operates Grade A assets in Noida and Delhi has also leased 7,300 sq. ft. to DBS.

The deal is followed by leasing of 62,500 sq. ft. to Yes Bank at Max Towers. In addition, it has also leased 25,000 sq. ft. at Max Towers to Indian Energy Exchange (IEX) Limited, India’s first and largest power trading platform.

This takes the total leased area at Max Towers to nearly 90% of the total 5.3 lakh sq ft.

“Competitive rental as compared to other mainstream office locations in Delhi-NCR, better local infrastructure, and growth prospects of Noida are some key reasons for this increased Grade A office space demand in Noida,” said Sahil Vachani, MD & CEO, MaxVIL.

Besides CAM, DBS and Yes Bank, occupiers at Max Towers include Kama Ayurveda, Indian Energy Exchange, Khaitan& Co.,Delphix, co-working firm Spaces, and French multinational Veolia, among others.

"Cyril Amarchand Mangaldas Delhi will be shifting to Max Towers Noida in June. Our office will incorporate the latest concepts in office design. These include special spaces for informal exchanges and hot-desking for lawyers who are mainly working from home. We look forward to meeting our clients in our new, exciting premises from June,” said Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas.

Built with an investment of about Rs 600 crore, with a net leasable area of over 5.3 lakh sq. ft., Max Towers is a 21 storey Grade A+ commercial office tower.

MaxVIL’s other commercial real estate projects include Max House, Okhla. Phase-I of Max House, comprising 1,05,000 sq. ft. leasable area. Phase 2 of the project of similar size as the first phase is targeted to start construction in H1 FY22.

Max Estates recently started 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 a financial partner.

As a part of its strategy to emerge as a leading commercial real estate office player in NCR, Max Estates 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.