A major transaction has been done in the luxury real estate market of Noida. Namely, RedRose Vanijya LLP – a firm directed by Riju Jhunjhunwala of the Bhilwara group – has purchased a luxury apartment spanning approximately 10000 square feet for 37 crore rupees. This apartment is a part of Max One, a luxury mixed-use development located in Sector 16B, Noida. This project is being developed by Max Estates and comprises ultra-luxury residences alongside premium offices, spaces, retail outlets, and lifestyle facilities.
This 37 crore deal highlights the growing demand for high-value luxury homes in Noida’s premium real estate market because of its prime location in Sector 16B and connectivity to South Delhi via the DND flyway. This area is positioned as a premium choice for buyers who prioritize exclusive residences and integrated lifestyle amenities.
This major transaction shows that buyers are now willing to pay a big amount for luxury apartments within managed communities in prime locations. Specifically, there is growing demand among high-end buyers for properties that offer superior locations, professional management, and a premium lifestyle.
Max Estates completed the acquisition of Boulevard Project Private Limited in April 2025. This acquisition was carried out under a resolution plan approved by the NCLT and NCLAT. The tribunal had directed the developer to obtain the authority’s approval to implement the plan.
Under the resolution plan, dues of approximately 932 crores were owed to the Noida Authority for this project, and Max Estates was required to make a payment of around 325 crores. Following the acquisition, an additional development potential of approximately 2.5 million square feet has been identified for Max Estates in this project, with about 1.2 million square feet of area currently unsold.
Max Estates plans to develop around 5 lakh square feet of residential space, while the remaining area will be utilised for commercial and retail development. The company expects the commercial development to add approximately 120 crores in rental income to its portfolio.
The company expects to generate revenue of approximately 2000 crores from this project. Of this, about 500 Crore is expected to come from receivables from existing customers, while around 1500 crore is likely to be generated from fresh sales. The project is targeted for delivery within the next 3 to 5 years.
The luxury real estate segment in Noida is rapidly gaining strength, with apartments priced up to 40 crore being sold in the city. Demand is also coming from senior executives and corporate professionals whose companies are establishing bases in the areas surrounding Noida.
Recently, reports emerged of a luxury bare-shell apartment spanning approximately 10,000 square feet at Prateek Edifice in Sector 107 being sold for around 20 crore. This further underscores the growing demand for high-end residential properties in Noida.
Developers such as M3M, Gulshan, and County are developing luxury residences. The average selling price in these projects is reaching approximately 25,000 to 35,000 Rs. per sq ft. This segment is expected to receive a further boost in the near future due to the upcoming Noida International Airport and rising corporate activity.
In response to the rising demand for luxury housing, developers are partnering with hospitality companies to provide professional management and premium services in the high-end residences.
Renowned developers are redefining Noida’s luxury real estate market. Partnerships with global hospitality and lifestyle brands are helping to elevate service credibility and deliver a premium living experience. Visit Hedgehomes for more property insights.
