New Delhi: In a statement, the company said it has leased about 62,500 sq ft at its commercial project ‘Max Towers’ in Noida to Yes Bank, which plans to relocate its offices from the Central Business District (CBD) to the new location to rationalize cost. During the last six months, Max Estates has also leased around 25,000 sq ft to Indian Energy Exchange (IEX) Ltd.
“The demand for Grade A office spaces has been growing in Noida mainly due to relatively high rentals in Delhi and Gurugram’s established office space locations and emerging supply of better quality assets,” MaxVIL Managing Director Sahil Vachani said. Max Estates has so far leased around 3,90,000 sq ft at Max Towers, which is located on the Delhi Noida Directway (DND). The company did not share the per sq ft rental it charges from tenants, but industry experts said the monthly rent is more than Rs 100 per sq ft.
Premium co-working brand Spaces, Khaitan & Co, Emerson, Veolia, ESRI, Udacity, Grass Valley, Kama Ayurveda and Castus Legal are some of the tenants. 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 premium commercial office project.
