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Redrose Vanijya LLP, a firm associated with Riju Jhunjhunwala of the LNJ Bhilwara Group, has purchased a 10,000 sq ft luxury apartment in a recently launched Max Group project in Noida for INR 37 crore. The transaction is understood to be the most expensive single-apartment sale reported in the city so far. The deal comes as Noida’s premium housing market expands, with developers launching high-end residences aimed at executives and affluent buyers. The project is part of Max Estates’ wider development plans following its acquisition of Boulevard Projects, which has significant residential, commercial and retail development potential.
Redrose Vanijya LLP, a firm associated with Riju Jhunjhunwala of the LNJ Bhilwara Group, has purchased a 10,000 sq ft luxury apartment in a recently launched Max Group project in Noida for INR 37 crore, marking one of the city’s highest-value residential transactions.
The transaction places the apartment at an approximate value of INR 37,000 per sq ft and highlights the increasing depth of demand for luxury housing in Noida. The deal is reported to be the costliest single-unit apartment transaction in the city, as developers increasingly introduce large-format residences aimed at high-net-worth buyers and senior corporate executives.
Redrose Vanijya LLP has Riju Jhunjhunwala, associated with the LNJ Bhilwara Group, among its directors. The purchase comes at a time when Noida’s residential market is expanding beyond its traditional mid- and upper-mid-income segments, with branded developers and managed residential communities entering the luxury segment.
The latest transaction also connects with Max Estates’ broader expansion in Noida. In April 2025, Max Estates completed the acquisition of Boulevard Projects Pvt Ltd following a resolution plan approved by the National Company Law Tribunal and the National Company Law Appellate Tribunal. The acquisition provided the company with development rights linked to a major commercial land parcel in the city.
The underlying project involves a 34,697 sq m plot in Noida, associated with the Delhi One development. The resolution process had been initiated after the project faced significant financial obligations, including dues payable to the Noida Authority. Under the approved resolution plan, Max Estates was required to settle a substantially lower amount as part of taking forward the development.
The project has the potential to add around 2.5 million sq ft of development to Max Estates’ portfolio. Of this, approximately 1.2 million sq ft remains unsold, according to the report. The company plans to develop around 500,000 sq ft as residential space, with the remaining development comprising commercial and retail components.
The mixed-use development is expected to generate significant revenue for the developer. Max Estates is targeting around INR 2,000 crore in revenue from the project, including approximately INR 500 crore in receivables from existing customers and around INR 1,500 crore expected from fresh sales. The development is planned for delivery over a three- to five-year period.
The INR 37-crore apartment purchase comes amid a broader increase in luxury housing activity across Noida. Developers including Max, M3M, Gulshan and County are developing high-end residential projects, with quoted prices in some developments reaching INR 25,000–INR 35,000 per sq ft. Larger apartments and branded residences are increasingly becoming part of the city's premium housing supply.
The emergence of Noida International Airport is also expected to influence the city's luxury housing market. Developers are positioning premium residences around the broader growth of corporate activity, infrastructure and hospitality services, anticipating demand from executives and affluent professionals establishing a presence in the region.
Another notable development is the increasing use of hospitality and lifestyle partnerships in premium residential projects. Managed communities and branded residences offer buyers access to professional property management and hospitality-oriented services, adding a new dimension to luxury housing in Noida.
The INR 37-crore transaction therefore reflects more than a single high-value purchase. It indicates the emergence of a deeper luxury housing segment in Noida, supported by large-scale mixed-use development, improving infrastructure, corporate expansion and growing interest in professionally managed residential communities.
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