Expansion3 Jul 2026, 09:08 am
Marathon Nextgen Realty Expands Mumbai Footprint with ₹450 Cr Redevelopment Project
AI Summary
Marathon Nextgen Realty Ltd (MNRL), through its subsidiary Sunset Spaces Private Limited, has entered into a Development Agreement for a premium residential redevelopment project in Versova, Mumbai. The project, situated on approximately 1.5 acres, has an estimated Gross Development Value (GDV) of over ₹450 crore. This marks MNRL's entry into society redevelopment, leveraging its expertise in larger real estate developments. The project aims to offer a differentiated, low-density residential environment with ample open spaces, contrasting with typical high-density projects in the area. Sunset Spaces will manage planning, approvals, design, construction, and execution.
Key Highlights
- MNRL enters society redevelopment with a ₹450+ crore GDV project in Versova.
- Project involves redevelopment of a 1.5-acre residential society.
- Focus on differentiated, low-density living with more open spaces.
- This is the first step in building a society redevelopment platform.
- Access to prime land parcels with lower upfront investment.
Price Impact
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