Marathon enters society redevelopment with Versova project

06 Jul 2026 CW Team

Marathon Nextgen Realty (MNRL) has marked its entry into the society redevelopment segment through a development agreement signed by its subsidiary, Sunset Spaces, for the redevelopment of a residential society in Versova, Mumbai.

Spread across approximately 1.5 acres, the project has an estimated gross development value (GDV) of over Rs 450 crore, subject to statutory approvals, final plans, applicable regulations and prevailing market conditions.

The redevelopment has been conceived as a relatively low-density premium residential project, with a focus on creating larger open and landscaped spaces compared to conventional high-density developments in the Versova micro-market. Sunset Spaces will be responsible for planning, obtaining approvals, designing and executing the project.

Commenting on the development, Parmeet Shah, Director, Sunset Spaces, said, "This marks Marathon's foray into society redevelopment and is the first step in our strategy to build a redevelopment platform across select Mumbai micro-markets. The segment provides access to prime land parcels while enabling us to expand the Marathon brand."

The project builds on Marathon's experience in large-format real estate development and urban renewal. The company currently has projects across Lower Parel, Byculla and Mulund, along with land banks in Bhandup, Thane, Dombivli and Panvel.

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