India, April 25 -- Realty firm Max Estates Limited on Thursday said it has taken over the stalled Delhi One project in Noida and is restarting construction work, after it received approvals from the National Company Law Tribunal (NCLT) and the Appellate Tribunal (NCLAT), ending a seven-year impasse for the project.

Max Estates said it will move the 240 homebuyers into one serviced-apartment tower. Two other residential towers will now be used for office spaces, and the hotel that was planned earlier will also be turned into an office building. The retail area will be redesigned, and buyers will get new commercial spaces that are 1.4 times bigger than what they originally booked.

"We are delighted to announce that Max Estates has taken o...