Marathon Nextgen Realty Limited (MNRL) has entered the Sewri real estate market through a joint development agreement for a cluster redevelopment project in Mumbai. The project will be developed by its subsidiary, Sunset Spaces Private Limited. The proposed development has an estimated Gross Development Value (GDV) of 450 INR-Crore for MNRL. The project will come up on a land parcel measuring approximately 7,500 SqM. However, the development remains subject to statutory approvals, finalisation of development plans and applicable regulations.
The Marathon Sewri residential project will comprise a high-rise residential tower with high-street retail spaces. The company expects to complete construction of the joint development project within 24 months. Additionally, the project marks Marathon’s entry into cluster redevelopment. It also expands the developer’s footprint into the Sewri micro-market. The company stated that it will announce further details after securing the required approvals.
Also Read: Integrated Residential Township – Reliance Township, Jamnagar
The Marathon Sewri residential project will add new residential and retail infrastructure to South Mumbai. Furthermore, the project will strengthen Marathon’s presence in an emerging redevelopment market. Sewri has witnessed improved connectivity through recent and upcoming transport infrastructure projects. These developments are expected to support long-term real estate activity in the area.
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