Max Estate 361 review
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Max Estate 361, Sector 36, Gurugram Review (2026): What Buyers Should Verify First

⚡ MyReviewHub Quick Verdict
🟡 PRE-CONSTRUCTION — VERIFY CLEARANCES BEFORE COMMITTING
🏗 Construction Not Yet Started ⏳ Registered Nov 2025 🟡 3 Clearances Pending
Estate 361 is a newly registered, pre-construction project. This verdict reflects that stage: several statutory approvals were still pending at the time of registration, backed by bank guarantees, and buyers should independently confirm their status before booking. This is not a delay or default finding — it is a pre-launch verification checklist.

This verdict is based on information available at the time of research. Always conduct your own due diligence before making any purchase decision. Featured image: Aerial view via Google Earth

This Max Estate 361 review is based entirely on the project’s HARERA registration certificate, Form REP-I (Parts A–H), the HARERA hearing order and deficiency notice, DTCP license and zoning documents, chartered accountant certificates, the project’s cash flow statement, and independently verified news reports from Times of India, Hindustan Times and Indian Express on the surrounding corridor — not builder brochures

Project at a Glance

ParameterDetails
Project NameEstate 361
Legal Entity (Promoter)Max Estates Gurgaon Two Ltd. (CIN: U68100DL2024PLC424818)
Landowner / License HolderNamo Realtech Pvt. Ltd. (CIN: U70101HR2012PTC075003)
Parent CompanyMax Estates Limited (NSE: MAXESTATES)
LocationVillage Harsaru, Sector 36 (36A), Gurugram — Dwarka Expressway belt
License No.50 of 2025 dated 09.04.2025, valid up to 08.04.2030
RERA Registration No.115 of 2025 — RC/REP/HARERA/GGM/1012/744/2025/115 dated 21.11.2025
Online Application IDRERA-GRG-2093-2025
Registration ValidityGGM/393/125/202021.11.2025 to 30.09.2033
Project TypeGroup Housing Colony under TOD Policy-2016 (93.95% Residential + 6.05% Commercial)
Total Licensed Area18.2375 acres
Towers5 Residential Towers (A, B1, B2, B3, B4) + 1 Club + 1 Sports Center + 1 Banquet + 1 EWS Tower
Total Units1,096 residential + 236 EWS units + 15 commercial units
Total FAR Area2,08,312.41 sq.m.
Escrow BankIDFC First Bank Ltd. — Master, 70% RERA, and 30% free accounts
Total Project Cost₹5,861.85 Crore (as declared in Form REP-I)
Construction Start (declared)5 March 2026
Projected Completion / OC Deadline30 September 2033
Pending at RegistrationEnvironmental Clearance, Fire Scheme Approval, Service Plan & Estimates—secured by ₹75 lakh in bank guarantees, due within 6 months (~21 May 2026)
Promoter Track Record“No Projects” launched in the last five years — Form REP-I, Part G

Location Analysis for Max Estate 361

Sector 36A sits in the same Dwarka Expressway belt of Gurugram that has driven some of the region’s strongest price appreciation over the past decade. Estate 361 is on the Harsaru side of this corridor. As with any project in this belt, the question worth asking is not whether the corridor has momentum — it clearly does — but whether the specific site and its immediate surroundings can support the premium positioning being sold.

Entrance view of Max Estate 361 in Sector 36, Gurugram, captured from Google Earth in April 2026.
Entrance view of Estate 361 in Sector 36, Gurugram. The image shows the project’s access road, entrance area and surrounding context beneath the Dwarka Expressway flyover. Base Image © Google Earth (Imagery: April 2026)

Overview

Sector 36A has emerged as one of the key growth corridors along the Dwarka Expressway, benefiting from one of the largest infrastructure transformations underway in the National Capital Region. With the Dwarka Expressway now operational, improving connectivity to Delhi, IGI Airport and central Gurugram, the locality has attracted significant residential and commercial investment from several national developers.

Max Estate 361 occupies a site on the Harsaru side of this corridor and is being positioned as a premium luxury development. However, buyers should evaluate not only the broader momentum of the Dwarka Expressway but also the characteristics of this specific micro-market. While the corridor offers strong long-term potential, several aspects—including transport infrastructure, surrounding civic development and future metro connectivity—remain in different stages of evolution.

For prospective buyers, the key question is therefore not whether Dwarka Expressway is an important growth corridor—it clearly is—but whether Estate 361’s exact location currently justifies its premium positioning and whether the surrounding infrastructure is likely to support that premium over the long term.

Road Connectivity

Road connectivity is one of Estate 361’s strongest locational advantages. The project enjoys direct access to the Dwarka Expressway, providing a largely signal-free connection towards Delhi while also linking efficiently to NH-48 and major employment hubs across Gurugram. For buyers who commute by private vehicle, this significantly improves accessibility compared with many interior sectors of New Gurugram.

Annotated Google Maps showing Estate 361 in Sector 36 Gurugram, highlighting the Dwarka Expressway, Southern Peripheral Road (SPR), and the direction towards Hero Honda Chowk.
Figure: Regional connectivity around Estate 361, Sector 36, Gurugram. The project is located along the Dwarka Expressway with access to the Southern Peripheral Road (SPR) and NH-48 via Hero Honda Chowk. Base Map © Google Maps. Editorial annotations by MyReviewHub.

However, convenient highway access should not be confused with seamless local access. Independent reporting has highlighted that the National Highways Authority of India (NHAI) has initiated action against several unauthorised access openings along the Dwarka Expressway following a series of accidents.

One Times of India report specifically identified the Max Estate area among locations where informal access cuts were under scrutiny. Residents quoted in the report expressed concerns that closure of these openings could increase travel distances because of the limited number of authorized entry and exit points available on the expressway.

Screenshot from a Times of India article (1 July 2026) mentioning the Max Estate area while reporting on NHAI's proposal to seal unauthorised access openings along the Dwarka Expressway.
Evidence Snapshot: The Times of India (1 July 2026) identifies the Max Estate area among locations near unauthorised access openings proposed to be sealed by NHAI along the Dwarka Expressway.

📰 Source: The Times of India (1 July 2026). Crashes on rise, Dwarka Expressway llegal cuts to be sealed. Read the full report →

At the time of this Max Estate 361 review, we found no evidence that Estate 361’s approved project access itself is affected by these proposals. Nevertheless, the issue illustrates a broader characteristic of access-controlled expressways: local convenience can depend heavily on officially designated entry and exit points rather than simple geographical proximity.

⚠️  MyReviewHub Note — Corridor Infrastructure vs. Site-Specific Evidence: Multiple journalist-bylined reports (Times of India, Hindustan Times, Indian Express) document recurring monsoon waterlogging on Dwarka Expressway service roads and at the Bajghera underpass, arising from incomplete master stormwater drainage across the broader Sector 81–110 / Dwarka Expressway belt. We found no verified evidence that Estate 361’s own site has experienced waterlogging — the project is pre-construction and has no occupancy history. Buyers should treat this as corridor-level due-diligence context, not a site-specific finding, and should independently inspect drainage provisions at the time of site visit.

Why this matters: Buyers should treat these reports as an indicator of the broader infrastructure environment rather than as evidence of a defect at Estate 361. During a site visit, it would be prudent to review the project’s internal stormwater drainage design, finished site levels and external road connectivity, particularly if purchasing before project completion.

⚠️ Site Context
Google Earth imagery (April 2026) shows electricity transmission infrastructure adjacent to the project. While this does not by itself indicate any regulatory issue, buyers who are sensitive to the site’s visual surroundings or have questions about transmission-line setbacks should seek clarification from the developer.

Metro Connectivity

Unlike road connectivity, metro access remains a future value driver rather than a present-day advantage for Estate 361.

The most significant future infrastructure proposal for the micro-market is the planned 35-km Gurugram Metro corridor connecting Sector 56 to Pachgaon. According to The Economic Times, the alignment includes a proposed Global City station in Sector 36A. At the time of writing for the Max Estate 361 review, the Detailed Project Report (DPR) has been finalised and submitted to the Haryana Government for approval, but construction has not yet commenced.

Screenshot from an Economic Times article stating that the proposed Gurugram Metro corridor includes a dedicated metro station inside the proposed Global City in Sector 36A, near Max Estate 361.
Evidence Snapshot: The Economic Times reports that the proposed Gurugram Metro corridor includes a dedicated metro station inside the proposed Global City in Sector 36A. The proposal remains subject to government approvals and construction timelines.

📰 Source: The Economic Times (2 July 2026). 28 stations, 35-km: Gurgaon’s proposed metro corridor connects Sector 56 to Pachgaon with a Global City stop and Namo Bharat interchanges. Read the full report →

Separately, Phase 1 of Gurugram’s Metro expansion is already underway. The 15.3-km elevated corridor from Millennium City Centre to Basai, including a spur towards the Dwarka Expressway, is expected to be completed in approximately 30 months

📰 Source: The Economic Times (6 September 2025). After 8-year gap, Gurgaon’s metro network set to expand. Read the full report →

For today’s buyer, the practical reality is straightforward. Estate 361 benefits from strong road-led connectivity today, while metro connectivity should be viewed as a credible long-term infrastructure catalyst rather than an existing commuting advantage. Buyers should therefore evaluate the project’s current accessibility primarily on the basis of the Dwarka Expressway and surrounding road network, rather than assigning a pricing premium to metro infrastructure that has not yet entered the construction phase.

🚇

Metro Connectivity Timeline

Max Estate 361 • Sector 36A • Gurugram
🛣️
Today
Road connectivity via
Dwarka Expressway
🚧
Phase 1 Metro
Millennium City Centre → Basai
Construction & Expansion
🚉
Global City Station
Sector 36A
Awaiting Government Approval
📈
Long-Term Outlook
Future connectivity potential
Available Today
Construction
Planning
Long-Term

Why this matters: Metro infrastructure has historically supported residential demand and improved long-term accessibility across several NCR micro-markets. However, infrastructure projects are subject to statutory approvals, funding allocations, land acquisition and construction timelines. Until physical work begins, buyers should regard the proposed Sector 36A metro station as future infrastructure with execution risk, rather than a completed amenity that justifies a premium in present-day pricing..

Accordingly, MyReviewHub considers the proposed metro network a positive long-term factor for Sector 36A, but not one that should materially influence a buyer’s present-day valuation of Estate 361 until construction is visibly underway.

Power Reliability in the Micro-Market

Unlike road connectivity or planned metro infrastructure, there is currently no project-specific evidence to assess the reliability of electricity supply at Estate 361. The project is under construction and has no resident occupancy history, making it impossible to independently evaluate power interruptions, transformer performance, voltage fluctuations or the effectiveness of its backup systems.

To understand the broader context, we examined evidence from the surrounding Sector 36A micro-market. Both The Times of India and Hindustan Times reported significant power disruptions at AVL36, another residential development in the same locality. One widely reported incident left nearly 1,400 families without electricity for almost 24 hours after a feeder fault, with residents stating that diesel generator backup supported only common areas and lifts rather than full apartment power.

📰 Source: Hindustan Times (20 October 2024). 1,400 families in Sector 36A suffer 24-hour power outage due to feeder fault. Read the full report →

It is important, however, not to extrapolate these reports directly to Estate 361. Electrical infrastructure, sanctioned load, transformer capacity and DG backup configurations vary between projects, and there is currently no verified evidence that Estate 361 faces similar issues.

MyReviewHub assessment: The reported outages nevertheless highlight an important due-diligence point for buyers considering any new residential development in this micro-market. Before booking, prospective purchasers should seek written clarification from the developer regarding:

  • sanctioned electricity load for each apartment,
  • extent of DG backup during prolonged outages,
  • transformer capacity and redundancy,
  • and the status of permanent electricity approvals from the relevant utility authority.

For buyers who work from home, depend on uninterrupted air-conditioning during summer or expect premium residential infrastructure, these questions are particularly relevant before possession.

Why this matters: Reliable power supply is a key component of everyday liveability, particularly in premium developments where uninterrupted lifts, air-conditioning, home offices and security systems are expected. While we found no evidence suggesting Estate 361 itself has a power reliability issue, the reported disruptions elsewhere in Sector 36A reinforce the importance of independently verifying the project’s electrical infrastructure before making a purchase decision.

Figure: Metro connectivity around Estate 361 is evolving. Road connectivity is available today, while metro connectivity remains a long-term infrastructure opportunity.

Schools, Hospitals and Daily Convenience

Sector 36A is still an emerging residential neighbourhood rather than a fully established urban district. While reputed schools, hospitals and daily shopping facilities are accessible via the Dwarka Expressway, most are located in neighbouring sectors and require a short drive rather than being within walking distance.

The area’s convenience is expected to improve as the Dwarka Expressway corridor matures and developments such as Global City become operational. However, buyers should assess the project based on the infrastructure available today rather than future development plans.

🏫 Social Infrastructure Snapshot
SchoolsGood regional options nearby, but not within the immediate neighbourhood.
HospitalsMulti-specialty healthcare is accessible via the Dwarka Expressway.
Daily ShoppingNeighbouring sectors currently meet most day-to-day retail needs.
Lifestyle & DiningExpected to improve as Global City and surrounding commercial developments become operational.

⚠️ Key Buyer Insight: Verify travel times to your preferred schools, hospitals and frequently visited destinations during weekday peak hours. Actual commuting conditions can differ significantly from off-peak navigation estimates and developer marketing material.

MyReviewHub Location Verdict

FactorAssessmentStatus
Road connectivity — accessTOI reported NHAI action against informal access cuts near Max Estate. Buyers should verify the approved access during a site visit.🟡 Verify
Corridor drainage (not site-specific)Monsoon waterlogging has been reported on parts of the Dwarka Expressway service roads and the Bajghera underpass. No Estate 361-specific issue was identified.🟡 Corridor concern
Metro connectivityThe proposed Global City station and Gurugram Metro extension could improve connectivity but remain future infrastructure projects.🔴 Wait and watch
Power reliability (micro-market)Nearby AVL36 has documented recurring outages; no Estate 361-specific record exists yet. Buyers should verify the project’s power backup and electricity arrangements with the developer.🟡 Verify with developer
Schools / hospitalsGeneral locality presence indicated; specific proximity list not independently verified in this pass🔵 Evolving
Market evidencePortal data indicates healthy asking-price growth, but verified long-term institutional market data for this micro-market remains limited.⚪ Limited Evidence

Price & Investment Analysis

Before buying any property, it’s important to understand how the local market is priced and what the available evidence says about its investment potential. This section looks at the available pricing data, rental indicators and what they mean for prospective buyers.

Property Price Trends

Sector 36 is an emerging residential micro-market where pricing is being driven more by new project launches than by a long history of completed transactions. As a result, buyers should be cautious about relying on appreciation claims, as independent long-term market data for this area remains limited.

A mid-2025 snapshot from Housing.com showed an average asking price of ₹14,404 per sq. ft., with a reported year-on-year increase of 13.62% across 94 listed properties. The portal also reflected a wide asking price range of ₹5,867–₹29,400 per sq. ft. These figures represent live listings at a specific point in time and should not be treated as verified market appreciation.

Rental data is also limited. Housing.com listings showed 2 BHK apartments renting for around ₹35,500 per month and 3 BHK units for approximately ₹40,000 per month in Sector 36 during mid-2025. We did not find sufficient verified rental data for Estate 361 itself or enough completed transactions to calculate a reliable project-level rental yield.

⚠️ MyReviewHub Due-Diligence Note

The figures above are based primarily on live property portal listings, which reflect asking prices rather than completed transactions. During our research, we did not find a verified long-term price series from institutional sources such as PropEquity, Knight Frank, ANAROCK or JLL specifically covering this micro-market.

Investment Considerations

Based on the available evidence, Estate 361 is best viewed as a long-term end-user project rather than a property with an established investment track record. rather than a property with an established investment track record. The surrounding area is still developing, long-term price data is limited, and there isn’t enough project-specific rental history yet to draw firm conclusions.

For most buyers, Estate 361’s appeal lies in its low-density planning, wellness-focused design and the long-term development of the Dwarka Expressway corridor—not in expectations of quick price gains. Buyers considering the project as an investment should base their decision on a longer holding period and their own confidence in the area’s future growth, rather than on appreciation projections that cannot yet be independently verified.

Who Else Is Building Here — Competition Landscape

Buying a premium home is rarely about price alone. Factors such as location, developer reputation, design philosophy, density, possession timeline and long-term livability often influence the decision just as much as the headline price. Buyers considering Estate 361 are likely to compare it with other premium residential developments across Gurugram that offer a similar buyer profile or lifestyle proposition. The projects below represent the closest alternatives identified during our research.

ProjectWhy Buyers Compare ItEstate 361 AdvantageWhere the Competitor May Appeal
Krisumi Waterside ResidencesSame Sector 36A / Dwarka Expressway micro-market and similar premium buyer profile.Low-density planning and wellness-focused design.Larger integrated township with Japanese collaboration.
DLF The ArbourPremium luxury benchmark considered by high-end Gurgaon buyers.Exposure to the emerging Dwarka Expressway growth corridor.Established Golf Course Extension location and strong DLF brand.

Other premium projects worth considering include DLF Privana North and Birla Arika. While both target a similar luxury buyer segment, they differ more significantly in location, product mix and buyer priorities, making them secondary rather than direct alternatives to Estate 361.

💡 Key Buyer Insight: Estate 361 differentiates itself through its low-density planning and wellness-focused design rather than luxury branding alone. Buyers looking for a long-term home in an emerging growth corridor may find it particularly appealing, while those who prioritise an already established neighbourhood or immediate possession should compare the available alternatives before making a final decision.

What Could Make This Area More Valuable?

At the time of this Max Estate 361 review, it can be said that sector 36A is still evolving, but several long-term infrastructure projects have the potential to strengthen its appeal over time. The operational Dwarka Expressway has significantly improved regional connectivity, while the proposed Gurugram Metro extension and the planned Global City project could further enhance employment, transport and social infrastructure across the corridor.

That said, buyers should distinguish between existing advantages and future possibilities. While these projects support the long-term outlook for the area, their pace of execution and eventual impact cannot be guaranteed. Estate 361 should therefore be evaluated primarily on its current location strengths and product quality, with future infrastructure viewed as a potential bonus rather than the sole reason to invest.

📍  Bottom Line on Location The Dwarka Expressway corridor’s momentum is real, and Estate 361 sits directly on it. But because this is a pre-construction project with zero occupancy history, almost every livability question — drainage at the actual site, backup power design, exact school and hospital distances — remains something the buyer must verify directly, rather than something this review can confirm from resident experience.

What We Liked

✅ Listed, Institutionally Backed Developer

Max Estates Limited, the parent company behind the project, is listed on the NSE (MAXESTATES), providing a higher level of public disclosure than privately held developers. The company has also publicly reported a dual 5-star GRESB 2025 rating, including a No. 1 global ranking in the Development category. While these credentials strengthen the developer’s institutional profile, buyers should note that Estate 361 is being developed through a separate Special Purpose Vehicle (SPV), which is the legal contracting entity for the project.

✅ Clean Financial Compliance Certification

A Non-Default Certificate from RKDB & Associates LLP, Chartered Accountants (dated 6 November 2025), confirms that as of 31 August 2025, Max Estates Gurgaon Two Ltd. had not availed any secured loans from banks or financial institutions for this project, and was regular in depositing statutory dues including GST, Income Tax, Provident Fund and ESI. Separately, Gaurav Jai Agrawal & Associates, Chartered Accountants, certified on 11 November 2025 that the information provided in Form REP-I was verified against the company’s records and found correct.

Excerpt from the RKDB & Associates LLP Non-Default Certificate for Estate 361, certifying no secured bank or institutional loans for the project as of 31 August 2025 and regular statutory compliance.
Figure: Excerpt from the Non-Default Certificate issued by RKDB & Associates LLP, Chartered Accountants (dated 6 November 2025), certifying that, as of 31 August 2025, the project SPV had not availed any secured bank or institutional loans for Estate 361 and was regular in depositing statutory dues.

✅ Most Key Pre-Construction Approvals Were in Place

Form REP-I (Part E) shows that, before RERA registration, the promoter had obtained most major pre-construction approvals, including the Letter of Intent (LOI), Licence No. 50 of 2025, utility-related assurances, AAI NOC, Aravali NOC, Forest NOC, Building Plan Approval (BR-III), LC-IV and Road Access Permission. Three approvals were still pending at the time of registration and are discussed under “What Concerned Us.”

Figure: Excerpt from Form REP-I (Part E) listing the major pre-construction approvals obtained before Estate 361’s RERA registration, including the project licence, key statutory NOCs, building plan approval and road access permission.

✅ Mandatory Escrow Structure in Place

The registration certificate confirms three separate IDFC First Bank accounts — a Master Account, a Separate RERA Account (70% of realisations), and a Free Account (30%) — consistent with Section 4(2)(l)(D) of the RERA Act. This is the standard RERA safeguard intended to ensure that construction-linked funds are maintained in accordance with the Act, and the required account structure is reflected in Estate 361’s registration.

✅ No Public Objections During the Mandatory Notice Period

HARERA’s hearing order confirms that a public notice was published in three leading newspapers — Navbharat Times, Hindustan Times and The Times of India — on 1 November 2025, and that no objections were received from the public regarding the project’s registration by the date of the order.

✅ Premium Specification Commitments

Form REP-I (Part H) specifies features including VRV/VRF air conditioning (ductable in the living and dining areas, high-wall split units in the bedrooms), modular wardrobes with premium hardware, and fully equipped modular kitchens with a chimney, hob, microwave, refrigerator, washing machine and heat pump. As these specifications form part of the RERA filing, they represent documented commitments rather than marketing claims alone.

✅ Meaningful Open Space Allocation

Despite being planned under the Transit-Oriented Development (TOD) policy, the zoning plan allocates 7,683 sq. m. for parks and playgrounds and 5,261 sq. m. for green belts, alongside a clubhouse, sports centre and banquet hall. This indicates that dedicated recreational and landscaped spaces have been incorporated into the project’s approved master plan.

What Concerned Us

⚠️ Newly Formed Project SPV with No Independent Delivery Record

Form REP-I (Part G) states that the promoter had not launched any projects during the previous five years. Max Estates Gurgaon Two Ltd. (CIN: U68100DL2024PLC424818) was incorporated in 2024 as a project-specific Special Purpose Vehicle (SPV) and therefore does not have an independent project delivery record of its own. Buyers should note, however, that the parent company, Max Estates Limited, has an established track record in the NCR region, including Estate 360 in the same sector.

Excerpt from Estate 361 Form REP-I (Part G) stating that the promoter had not launched any projects during the previous five years.
Figure: Excerpt from Form REP-I (Part G) stating that the promoter had not launched any projects during the previous five years. Estate 361 is being developed through a project-specific SPV incorporated in 2024.

🔴 Pending Statutory Approvals Could Not Be Publicly Verified

At the time of the HARERA hearing on 17 November 2025, three statutory approvals were still pending: Environmental Clearance, Fire Scheme Approval, and Approved Service Plans & Estimates. HARERA granted registration subject to the promoter furnishing three separate bank guarantees of ₹25 lakh each and undertaking to obtain these approvals within the stipulated timeframe set out in the registration order.

As part of this Max Estate 361 review (July 2026), we searched the HARERA project page, the developer’s publicly available disclosures and other official sources but did not find public evidence confirming that these three approvals have since been obtained. This does not necessarily mean the approvals have not been granted—it means we could not independently verify their current status from publicly available records.

Excerpt from the Estate 361 HARERA hearing order showing that Environmental Clearance, Fire Scheme Approval and Approved Service Plans & Estimates were pending at the time of RERA registration, along with the promoter's undertaking to obtain them.
Figure: Excerpt from the HARERA hearing order recording that Environmental Clearance, Fire Scheme Approval and Approved Service Plans & Estimates were pending at the time of registration. The promoter also undertook to obtain these approvals within the stipulated period and furnished bank guarantees as required by the Authority.

Why this matters: These are important statutory approvals. Buyers should request the latest approval documents from the developer or verify their current status through the HARERA portal before making a purchase decision.

🔴 3. The Project Relies Heavily on Buyer Installments for Funding

According to the project’s HARERA Cash Flow Statement, total estimated financial resources are ₹6,61,628 lakh, of which ₹6,29,122 lakh (approximately 95%) is expected to come from installments received from allottees before project completion. The promoter’s disclosed equity contribution is ₹100 lakh (₹1 crore).

This funding structure indicates that the project is expected to be financed primarily through customer collections rather than promoter equity. While such funding models are not uncommon in large real estate developments, they can make project funding more dependent on continued customer collections over the course of construction. Buyers may wish to review the latest construction progress and financial disclosures alongside this information as part of their overall due diligence.

HARERA Cash Flow Statement showing the estimated funding sources for Max Estate 361, including promoter equity, other sources and buyer installments before project completion.
Figure: Extract from the project’s HARERA Cash Flow Statement showing the estimated funding sources for Estate 361. The filing indicates that a substantial portion of the project’s estimated financial resources is expected to come from installments received from allottees before project completion.

🔴 4. Certain Project Land Parcels Were Recorded as Mortgaged

The DTCP land schedule, annexed to License No. 50 of 2025, records that Killa Nos. 123//11min (3-19), 12min (4-18), 13min (4-17) and 14min (0-18)—covering approximately 14 kanal 12 marla“has been mortgaged.”

Extract from the DTCP Schedule of Land for Max Estate 361 showing the note identifying specific Killa numbers recorded as mortgaged.
Figure: Extract from the DTCP Schedule of Land annexed to License No. 50 of 2025. The note records that specific Killa numbers, covering approximately 14 kanal 12 marla, were recorded as mortgaged at the time of the filing.

The recorded mortgage relates to specific land parcels rather than the entire licensed project area.

Separately, the project’s HARERA Registration Certificate requires the promoter to clear the title of the project land from any litigations before offering possession.

Extract from the HARERA Registration Certificate for Max Estate 361 showing the condition requiring the promoter to clear the project land title from litigations before offering possession.
Figure: Extract from the HARERA Registration Certificate highlighting the registration condition requiring the promoter to clear the title of the project land from any litigations before offering possession.

Mortgages are common in real estate project financing and do not, by themselves, indicate a problem. However, MyReviewHub could not independently verify from publicly available primary records whether the mortgage status of these land parcels has since changed. Buyers should therefore independently verify the latest title, mortgage and litigation status through the project’s current title documents or a fresh legal title search before completing a purchase.

🔴 5. Buyers Should Plan for a Long Delivery Timeline

According to the project’s HARERA Registration Certificate, construction is scheduled to commence on 5 March 2026, with the Occupancy Certificate timeline extending to 30 September 2033. This represents a planned development period of more than seven years from the declared commencement date.

A timeline of this length is not unusual for a large, phased Transit-Oriented Development (TOD) project and, by itself, does not indicate a construction delay. Since Estate 361 is a new launch, there is no delivery track record yet to assess.

Extract from the project’s HARERA filing showing the promoter’s declared construction commencement date (5 March 2026) and project completion date (30 September 2033)

However, buyers should plan their finances and expectations around the timeline disclosed in the HARERA registration rather than relying solely on indicative timelines shared during sales discussions. Those purchasing for self-use or with time-sensitive plans should factor the declared completion schedule into their decision-making.

🟡 Utility Readiness Depends Partly on External Infrastructure

According to the project’s Form REP-I, external water supply, sewerage and storm water drainage connections are to be provided by GMDA, while the developer is responsible for the project’s internal utility infrastructure. This allocation of responsibilities is common for large group housing developments in Gurugram.

As a result, the availability of these utility services ultimately depends on both the developer completing the internal network and the relevant public authorities providing the external connections. Buyers may therefore wish to review the latest utility infrastructure status alongside construction progress before possession.

🟡 7. No Verified Resident Experience Is Available Yet

Estate 361 is currently in the pre-construction stage, so there are no occupied homes from which to assess resident experience. As a result, MyReviewHub could not identify any verified buyer feedback relating to day-to-day living, maintenance quality, security, or resident welfare.

While promotional material and project launch announcements are available online, they cannot substitute for actual occupancy experience. Buyers should therefore treat the absence of resident feedback as a reflection of the project’s current stage rather than an indicator of quality.

Registration & Regulatory Timeline

As Estate 361 is a newly launched project with no delivery history yet, the timeline below tracks its key regulatory milestones and the conditions attached to its HARERA registration.

Milestone

Date

Licence No. 50 of 2025 granted

9 Apr 2025

Application for HARERA registration filed

28 Oct 2025

Public notice published

1 Nov 2025

First deficiency notice issued (24 observations)

7 Nov 2025

First hearing

17 Nov 2025

HARERA Registration granted (No. 115 of 2025)

21 Nov 2025

Deadline for pending statutory approvals*

~21 May 2026

Declared construction commencement

5 Mar 2026

Declared project completion / Occupancy Certificate

30 Sep 2033

*As specified in the conditions attached to the HARERA Registration Certificate.

MyReviewHub Take: HARERA granted registration subject to the promoter furnishing a bank guarantee and obtaining certain pending statutory approvals within the prescribed timelines. Buyers should independently verify the current status of these approvals on the HARERA portal before making a purchase decision.

Builder Track Record

Max Estates Limited, the listed parent company (NSE: MAXESTATES), is a relatively new residential developer in the NCR market. According to the company’s own disclosures, Estate 128 was its first NCR residential project, launched in 2023, followed by Estate 360 and Estate 361 in Sector 36A, Gurugram. As a result, the company has a limited residential delivery history compared with more established NCR developers.

At the corporate level, Max Estates has published several recognised sustainability credentials, including a dual 5-Star GRESB 2025 rating and LEED Platinum and IGBC Platinum/Gold certifications across its portfolio. These certifications relate to the company’s broader sustainability initiatives rather than to Estate 361 specifically.

The project is being developed through Max Estates Gurgaon Two Ltd., the special purpose vehicle (SPV) for Estate 361. In Form REP-I (Part G), the promoter has disclosed that this SPV has no previously launched or completed projects. We also could not independently verify any HARERA penalty order or consumer forum order relating specifically to Max Estates Gurgaon Two Ltd. or Estate 361.

Max Estates Limited, the listed parent company (NSE: MAXESTATES), has a relatively young NCR residential footprint — its first NCR residential project, Estate 128, launched in 2023, followed by Estate 360 and now Estate 361 in Sector 36A. At the corporate level, Max Estates holds a dual 5-star GRESB 2025 rating and LEED Platinum and IGBC Platinum/Gold certifications — credible, verifiable sustainability credentials.

At the project level, however, the SPV Max Estates Gurgaon Two Ltd. has no completed-project history of its own, as disclosed by the promoter in Form REP-I, Part G. A search of the NCDRC portal found no consumer forum order against the SPV, Max Estates Limited, or an “Estate 361 SPV.” The only related matter found was an NCLT case involving Max Estates Limited — unrelated to consumer disputes and not connected to this project. No HARERA penalty order was found either, though the project is too new for one to exist either way. Given the recent launch, this absence of history should not be read as either a positive or a negative indicator.

📍 MyReviewHub View: Max Estates enters Estate 361 with the backing of a listed parent company and credible sustainability credentials, but with a relatively limited residential execution track record in the NCR market. Since Estate 361 is still at an early stage, buyers should monitor construction progress and future regulatory disclosures as the project advances.

Price & Investment Considerations

Here’s what the available data actually shows:

Metric

Observation

Estate 361 average listed price

₹25.48K/sq.ft. (₹3.69 Cr–₹5.61 Cr, 3 & 4 BHK configurations only) — Housing.com project page

Housing.com locality price trend

₹16.2K/sq.ft. average asking price; +16.49% YoY (“Price Trends for Sector 36” on the same project page)

Sector labelling note

Project located in Sector 36A; embedded locality comparison labelled Sector 36.

Project-specific rental history

Not available (pre-construction project).

Project-specific resale market

Not available (pre-construction project).

Utility readiness

Water, sewerage, and storm water infrastructure are dependent on external works by GMDA, partly outside the developer’s direct control.

📄 Data Source: Housing.com – Max Estate 361 project page. Pricing and locality trend data are based on information displayed on the source website. The page stated that the market data was last updated by Housing.com on 11 May 2026.

📝 MyReviewHub Note

Market statistics are based on publicly available portal data reviewed by MyReviewHub at the time of publication. These figures may change over time as listings and market conditions are updated.

Investment view: Estate 361 benefits from the Max Estates brand and a strategic location along the Dwarka Expressway corridor. Its listed average asking price of ₹25.48K/sq.ft. is higher than the ₹16.2K/sq.ft. locality price trend displayed on the same Housing.com page, reflecting its premium positioning. Buyers should, however, independently assess whether this pricing aligns with the project’s specifications, location and long-term value proposition.

As the project is still under construction, there is no project-specific resale or rental performance history from which to assess actual investment outcomes. Any discussion of rental yields, capital appreciation or resale demand at this stage therefore relates to the broader locality rather than Estate 361 itself. Buyers should independently verify prevailing asking prices, competing project offerings and market conditions closer to their purchase decision, and treat projections of future returns or booking momentum as opinions unless supported by independently verifiable evidence.

Who Should Buy This

This Project May Be Suitable If You:

  • Are investing for the long term and do not need possession anytime soon.
  • Are comfortable buying a pre-construction project backed by the Max Estates brand.
  • Like premium specifications and are comfortable with a higher-density TOD development.
  • Are comfortable with a construction-linked payment plan, where project funding depends largely on buyer installments.
  • Plan to check the status of key approvals (such as Environmental Clearance, Fire Scheme Approval and Service Plan) on the HARERA portal before buying.
  • Plan to get an independent legal check on the land title and any existing mortgages before finalising your purchase.

This Project May Not Be Suitable If You:

  • Need possession within the next few years.
  • Prefer buying a project with an established delivery and resident track record.
  • Are uncomfortable buying before key regulatory approvals have been obtained.
  • Prefer a project with an existing resident community and proven day-to-day livability.
  • Are uncomfortable with a funding model that relies primarily on buyer installments during construction.
  • Want complete clarity on land title before committing to a purchase.

Max Estate 361 Review — Our Assessment

Estate 361’s corridor location and the Max Estates group’s brand standing are reasonably well supported by the evidence in this review. The remaining consideration for buyers is whether they are comfortable with the project’s specific risk profile: a newly incorporated project SPV with no independent delivery history, three statutory clearances pending at registration (secured by bank guarantee, due by ~21 May 2026), and a financing structure that depends on future buyer payments for approximately 95% of project resources — set against a stated completion timeline of roughly eight years.”

Our Call: A STRONG PROJECT — BUT PHASE MATTERS

🟡 MyReviewHub Verdict: PROCEED WITH CAUTION — VERIFY BEFORE COMMITTING
Approvals, financing, and land-title conditions are all disclosed in the project’s official filings, but three statutory clearances remained pending at the time of registration and land mortgage status requires independent confirmation. As the project has no delivery history yet, buyers should verify current clearance status and title before committing.

Want to verify these findings yourself? The official HARERA record is the best place to start.

H-RERA Verification — Check the Records Yourself

At the time of Max Estate 361 review, MyReviewHub verified all three RERA registrations directly on haryanarera.gov.in. You can do the same.

Field

Detail

RERA Registration No.

115 of 2025 / RC/REP/HARERA/GGM/1012/744/2025/115

Online Application ID

RERA-GRG-2093-2025

Promoter

Max Estates Gurgaon Two Ltd.

Landowner / Licensee

Namo Realtech Pvt. Ltd.

Registration Date

21 November 2025

Registration Valid Until

30 September 2033

License No.

50 of 2025 dated 09.04.2025, valid to 08.04.2030

📌  Verify Yourself
Visit haryanarera.gov.inProject Search → enter RERA Registration No. 115 of 2025 or search “Estate 361.” Before booking, independently verify whether the Environmental Clearance, Fire Scheme Approval, and Service Plan/Estimates have been obtained, as these were pending at the time of registration.

🔍 MyReviewHub Research Methodology: Every MyReviewHub review is built primarily on official government records, including HARERA filings, registration certificates, hearing proceedings, regulatory orders and other publicly available statutory documents. Where appropriate, we supplement this research with clearly identified secondary sources, but our findings and conclusions are grounded in primary-source verification wherever possible.

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🔗🔗 Sources & References

Government & Regulatory

  • HARERA Registration Certificate No. 115 of 2025 — RC/REP/HARERA/GGM/1012/744/2025/115, dated 21.11.2025
  • HARERA Deficiency Notice — HARERA/GGM/RPIN/979, dated 07.11.2025
  • HARERA Hearing Order / Hearing Brief — Project RERA-GRG-2093-2025, dated 17.11.2025
  • Form REP-I (Parts A–H) — submitted 27.10.2025, Haryana RERA portal
  • DTCP License No. 50 of 2025 (Form LC-V), dated 09.04.2025, with Schedule of Land
  • Revised Demarcation-cum-Zoning Plan, dated 26.06.2025, DTCP Haryana
  • Non-Default Certificate — RKDB & Associates LLP, Chartered Accountants, dated 06.11.2025
  • Form REP-I Correctness Certificate — Gaurav Jai Agrawal & Associates, Chartered Accountants, dated 11.11.2025
  • Cash Flow Statement for the Project — Max Estates Gurgaon Two Limited, ESTATE 361, Gurugram
  • Affidavit-cum-Declaration, Form REP-II — Max Estates Gurgaon Two Limited, dated 10.10.2025

News Reports

  • Times of India — reporting on NHAI’s plan to seal illegal access cuts on Dwarka Expressway, naming “Max Estate” among nearby locations
  • Times of India — “Showers cause flooding on Dwarka e-way service roads, underpass shut”
  • Times of India — “1,400 families in Sector 36A suffer 24-hour power outage due to feeder fault” (Hindustan Times, AVL36)
  • Times of India — “35-km metro corridor to Pachgaon will have 28 stations,” 30 June 2026
  • Economic Times — “After 8-year gap, Gurgaon’s metro network set to expand,” 5 September 2025
  • Housing.com — Sector 36, Gurgaon price trends and rental listing snapshots

Corporate & Financial

NCDRC portal — case search for Max Estates Gurgaon Two Ltd., Max Estates Ltd., and Estate 361 SPV

Max Estates Limited — GRESB 2025 rating disclosure and sustainability highlights

Max Estates Gurgaon Two Limited — audited financial statement, FY 2024–25

⚠️ Disclaimer

This review is based on publicly available information, including official HARERA filings, DTCP records, chartered accountant certificates submitted with the RERA application, the project’s disclosed cash flow statement, and other independently verified sources. MyReviewHub has not received any payment or consideration from Max Estates, Namo Realtech, their affiliates, or any channel partner for preparing this review.

Information is accurate to the best of our knowledge as of the publication date but may change over time, particularly for pre-construction projects. Buyers should independently verify the latest approvals, registrations and disclosures through the HARERA portal and other relevant government authorities before making any purchase decision.

This review is intended for informational purposes only and does not constitute legal, financial or investment advice. Buyers should consult qualified professionals for legal, financial or title-related matters where appropriate.

© MyReviewHub | India’s Most Honest Property Reviews | myreviewhub.com

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