Estate 361 Phase 2 Signals Fresh Supply on Dwarka Expressway, Sector 36A

Max Estates Adds Estate 361 Phase 2 to Its Sector 36A Pipeline, Setting Up a Fresh Supply Test on the Dwarka Expressway

Max Estates has placed Estate 361 Phase 2 in Sector 36A, on the Dwarka Expressway in Gurugram, among the acquired projects it expects to launch. The disclosure came in the developer's Q2 FY27 earnings call on 11 November 2026, where management grouped the project with Estate 105 Phase 2 and said both launches would be calibrated over the coming years. For buyers watching this corridor, the story is less about a single tower and more about how one of the most closely watched stretches of Gurugram real estate is about to absorb more inventory from a developer with a strong record in the area.

The project sits inside the wider Estate 361 community, which covers about 18.23 acres and is anchored by a central forest of more than 250,000 sq ft. Phase 2 is a residential component of that community. The developer's pipeline update lists it as acquired and awaiting launch, and the company has not tied it to a fixed sales date. That is a useful signal in itself: Max Estates is managing the sequence of its Gurugram and Noida launches rather than rushing them into the market at once.

What Has Been Confirmed So Far

The facts available for Estate 361 Phase 2 are limited to its place in the developer's pipeline, its location and the community it belongs to. Here is how the picture currently reads:

• Status: Upcoming, with the project listed among acquired projects awaiting launch in the NCR pipeline as of November 2026.
• Developer: Max Estates, the listed NCR developer whose Estate 361 community holds the land.
• Location: Sector 36A on the Dwarka Expressway, Gurugram, in the Harsaru village area of Sector 36 as recorded in the community's project documentation.
• Structure: The wider Estate 361 community is being developed under a joint development agreement.
• Timing: Launches of Estate 361 Phase 2 and Estate 105 Phase 2 will be calibrated over the coming years, according to management.

Impact on Homebuyers

For a buyer, the practical question is whether a new phase in Sector 36A will ease or add to price pressure. The answer depends on what the surrounding market is already doing. Sector 36A averages about ₹19,950 per sq ft as of November 2026, and the gross rental yield on ready stock sits at around 3.43 per cent. Measured appreciation in the sector has run at roughly 0.76 per cent a year. Those are modest numbers, and they suggest that the locality has been driven more by end-use demand than by speculative gains.

Estate 361 Phase 1, the first residential phase in the same community, gives a clearer reference point. It was launched in the third quarter of FY26 with a launch price of ₹21,350 per sq ft in November 2025, and the current price has moved to ₹22,350 per sq ft plus PLC and GST. Its 3 BHK units of 2,693 sq ft are priced at ₹6.02 crore and its 4 BHK units of 4,082 sq ft at ₹9.12 crore, plus charges. The average realisation across that phase is about ₹22,000 per sq ft. A buyer comparing Phase 2 with its predecessor will therefore be looking at a community whose pricing has already climbed by roughly ₹1,000 per sq ft within a single year.

The Phase 1 sales record is worth noting. Pre-sales crossed ₹1,900 crore against a gross development value of about ₹2,500 crore, and between 66 and 70 per cent of sold inventory went to end-users rather than investors. For someone buying a home to live in, that ratio suggests the community has found its audience among owners who plan to stay.

Should buyers wait or act? A reasonable approach is to watch for the Phase 2 launch and compare its pricing, configurations and payment plan against Phase 1 and against the wider Dwarka Expressway stock. Those who need a home soon may find more immediate options in ready or near-ready projects. Those with a longer horizon may find the community's forest-led planning and the corridor's infrastructure build-out worth the wait.

Expert Analysis

Why would a developer announce a project it has not yet launched? In our reading, the disclosure is a signal about pipeline management. Max Estates has told the market that it holds four acquired projects available for launch, representing about ₹14,000 crore of gross development value, within an NCR pipeline close to ₹29,000 crore. Naming Phase 2 in that list tells investors the land is secured and the capital has been committed. It also tells buyers that the company intends to keep the community moving rather than letting it sit idle.

The calibrated timing deserves a closer look. A developer that paces launches over several years can protect pricing and avoid flooding a single micro-market with new units. In Sector 36A, where Phase 1 is still selling and the expressway's full benefits are still arriving, that restraint is sensible. Yet it also means that buyers should not expect Phase 2 to appear on a fixed timeline, and they should plan around that uncertainty.

The corridor itself is in transition. The 29 km Dwarka Expressway is fully operational as of 2026, and the airport-link tunnel to IGI Terminal 3 is part of the live network. The Gurugram Metro spur from Basai to the expressway, at 1.85 km, has been under construction since bhoomi pujan in late 2025, and the Delhi Metro Golden Line is targeted for partial operations in late 2026. Those are real gains in connectivity, but several of them are still being completed, and the timing of each is shaped by agencies outside the developer's control.

What to Expect Next

The next milestones to track are the Phase 2 launch itself, which management has said will be calibrated over the coming years, and the completion of the nearby infrastructure. The Bijwasan railway station redevelopment, costing ₹728 crore, is targeted for an October 2026 opening. The Golden Line's first stretches are targeted for late 2026. A proposed inter-state bus terminal in Sector 36A near the expressway has a site identified but remains at the proposal stage. Buyers should treat these dates as targets, since infrastructure timelines in Gurugram have often shifted.

Related Projects and Areas Affected

• Estate 361 Phase 1, Sector 36A: The first residential phase of the same community, with 1,096 units across five towers and 3 BHK and 4 BHK homes.
• Estate 360, Gurugram: A nearby Max Estates project under construction, with pre-sales of about ₹48.31 billion and collections of about ₹11.10 billion.
• Max District, Gurugram: A commercial asset where a binding letter of intent covers about 200,000 sq ft of pre-leasing, concluded three years ahead of completion.
• Global City, Sector 36A to 37 belt: A planned 1,000-acre central business district between the expressway and NH-48, with Phase 1 infrastructure targeted for late 2026.
• Dwarka Expressway corridor: The mid-corridor sectors, where rental yields are placed between 3.5 and 4.5 per cent a year.

Comparable Projects by the Same Developer

Max Estates has built a varied portfolio in Gurugram and Noida, and several of its projects offer a useful yardstick for Estate 361 Phase 2:

• Estate 360, Gurugram: Under construction, with pre-sales of about ₹48.31 billion, showing the developer's ability to sell large residential blocks in the NCR.
• Estate 128, Noida: Phases 1 and 2 are fully sold and under construction, with pre-sales of ₹27.34 billion and collections of ₹10.94 billion.
• Estate 361 Phase 1, Sector 36A: The closest comparison, sharing the same community, forest and amenity base.
• Max District, Gurugram: A commercial project whose early pre-leasing at a premium of over 35 per cent to market rents reflects demand for quality space in the corridor.
• Sector 59, Gurugram: A 7.25-acre site with about 13 lakh sq ft of development potential and a gross development value of ₹4,000 crore, with launch planned for the third quarter of FY27.

The Developer and the Locality

Max Estates Limited, founded in 2016, is listed on both the BSE and the NSE and has built a name as a leading developer in the NCR region. Its Estate 128 project in Noida is one of the clearest signs of its sales strength. Its Gurugram work, including Estate 360 and Max District, pairs residential communities with office and retail assets, a mix that can help give a neighbourhood a lasting character.

The locality is shaped by its position. Sector 36A sits close to the Dwarka Expressway, roughly 2 km from the main carriageway and about 1 km from the Southern Peripheral Road, with NH-8 about 3 km away. IGI Airport is around 15 minutes by road, and Cyber City about 30 minutes. Genesis Hospital is about 5 minutes away, and Sector 37 and Basai metro stations sit nearly next to the area. The mid-corridor sectors have attracted newer townships at a lower entry price than the older Golf Course Extension Road belt, which is one reason the area draws buyers who want space and connectivity without paying the premium of the city's established addresses.

Frequently Asked Questions

Q: Is Estate 361 Phase 2 already on sale?
Estate 361 Phase 2 is listed as an acquired project awaiting launch in the developer's NCR pipeline. Max Estates has said its launches will be calibrated over the coming years, so buyers should follow the developer's updates closely.

Q: Where exactly is Estate 361 Phase 2 located?
The project is in Sector 36A on the Dwarka Expressway in Gurugram, within the wider Estate 361 community. The site is close to the Southern Peripheral Road and the Central Peripheral Road junction with the expressway.

Q: How does the locality's pricing compare with the earlier phase?
Sector 36A averages about ₹19,950 per sq ft as of November 2026, while Estate 361 Phase 1 is priced at ₹22,350 per sq ft plus PLC and GST. The community's pricing has therefore moved above the wider sector average.

Q: Who is developing the project?
Max Estates Limited, established in 2016 and listed on the BSE and NSE, is the developer. The company's Gurugram portfolio includes Estate 360 and Max District, alongside its Noida project Estate 128.

Full project details: Estate 361 Phase 2