+
Marathon Nextgen Realty Enters Sewri with Rs 4.5 Billion Project
Real Estate

Marathon Nextgen Realty Enters Sewri with Rs 4.5 Billion Project

Marathon Nextgen Realty has entered Sewri through a cluster redevelopment project with an estimated gross development value of Rs 4.5 billion.

The company’s subsidiary, Sunset Spaces, has signed a joint development agreement for the project, which will comprise a high-rise residential tower and high-street retail spaces.

The proposed development is situated on a land parcel measuring approximately 7,500 sq m. Its development potential and estimated GDV will depend on statutory approvals, final development plans, applicable regulations and prevailing market conditions.

Parmeet Shah, Director, Sunset Spaces Private Limited, said the project gives Marathon a visible presence in a strategically connected South Mumbai micro-market where the company has not previously operated.

He added that Marathon plans to expand across high-potential Mumbai locations through carefully selected opportunities. The Sewri project also marks the company’s entry into cluster redevelopment, complementing its recent move into society redevelopment.

Sewri has emerged as an important gateway connecting South Mumbai, Navi Mumbai and the wider Mumbai Metropolitan Region following the opening of Atal Setu.

The upcoming Sewri-Worli Elevated Connector is expected to strengthen east-west connectivity by linking Atal Setu with the Coastal Road and Bandra-Worli Sea Link.

The area’s improving infrastructure, eastern waterfront views and relative affordability compared with established neighbouring markets are expected to support its long-term residential appeal.

The project will now proceed through the planning and regulatory approval process. Marathon Nextgen Realty said further details on approvals, timelines and other material developments will be announced in accordance with regulatory requirements.

Marathon Nextgen Realty has entered Sewri through a cluster redevelopment project with an estimated gross development value of Rs 4.5 billion. The company’s subsidiary, Sunset Spaces, has signed a joint development agreement for the project, which will comprise a high-rise residential tower and high-street retail spaces. The proposed development is situated on a land parcel measuring approximately 7,500 sq m. Its development potential and estimated GDV will depend on statutory approvals, final development plans, applicable regulations and prevailing market conditions. Parmeet Shah, Director, Sunset Spaces Private Limited, said the project gives Marathon a visible presence in a strategically connected South Mumbai micro-market where the company has not previously operated. He added that Marathon plans to expand across high-potential Mumbai locations through carefully selected opportunities. The Sewri project also marks the company’s entry into cluster redevelopment, complementing its recent move into society redevelopment. Sewri has emerged as an important gateway connecting South Mumbai, Navi Mumbai and the wider Mumbai Metropolitan Region following the opening of Atal Setu. The upcoming Sewri-Worli Elevated Connector is expected to strengthen east-west connectivity by linking Atal Setu with the Coastal Road and Bandra-Worli Sea Link. The area’s improving infrastructure, eastern waterfront views and relative affordability compared with established neighbouring markets are expected to support its long-term residential appeal. The project will now proceed through the planning and regulatory approval process. Marathon Nextgen Realty said further details on approvals, timelines and other material developments will be announced in accordance with regulatory requirements.

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code