Marathon Nextgen Realty Enters South Mumbai with ₹450 Crore Residential Project in Sewri

Marathon Nextgen Realty Enters South Mumbai with ₹450 Crore Residential Project in Sewri​

Marathon Nextgen Realty Limited has announced its entry into a strategically connected micro-market in South Mumbai through a joint development project in Sewri. The initiative, undertaken by the company's subsidiary, Sunset Spaces Private Limited, involves developing a high-rise residential tower complemented by high-street retail spaces.

The proposed development is set to take place on a land parcel measuring approximately 7,500 square metres. Marathon Nextgen Realty has estimated the Gross Development Value (GDV) of the project at approximately ₹450 crore. The company noted that the development potential and estimated GDV are contingent upon receiving necessary statutory approvals, finalizing development plans, prevailing market conditions, and applicable regulations.

Strategic Expansion in Sewri​

The joint development marks a significant step for Marathon Nextgen Realty as it enters the Sewri micro-market. Mr. Parmeet Shah, Director of Sunset Spaces Private Limited, stated that they are pleased to announce this project, noting that Sewri is a well-connected and strategically important area within South Mumbai.

Mr. Shah highlighted that major infrastructure investments are enhancing the connectivity and long-term growth potential of the micro-market. This opportunity allows Marathon to establish a strong presence in an area where the company has not previously operated. His strategy, he mentioned, involves steadily expanding the Marathon footprint across various high-potential Mumbai micromarkets through carefully selected opportunities.

The project specifically represents an expansion into cluster redevelopment for the company, building upon their recent entry into society redevelopment. These avenues offer additional routes for growth while maintaining discipline concerning location, product quality, and execution.

Sewri’s Market Appeal​

Sewri is highlighted as one of Mumbai's most well-connected locations. The area serves as an important gateway between Navi Mumbai, South Mumbai, and the wider Mumbai Metropolitan Region due to operational infrastructure like Atal Setu.

The future Sewri-Worli Elevated Connector is anticipated to substantially improve east west connectivity by linking the Bandra-Worli Sea Link, Coastal Road, and Atal Setu. Beyond its superior accessibility and location in South Mumbai, which offers beautiful views of Mumbai's eastern waterfront, Sewri holds strong long term appeal as a residential destination due to its relative value compared with more established adjacent markets.

Project Status and Progress​

The project is now proceeding through the planning and regulatory approval process. Marathon Nextgen Realty intends to provide further updates regarding approvals, project timelines, and other material developments in line with applicable laws.

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About Marathon Nextgen Realty Limited:
Marathon Group has been involved in shaping Mumbai's skyline for over 56 years. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed more than 100 projects across various portfolios including townships, luxury residential, retail, corporate parks, and affordable housing. The company possesses strong internal capabilities in design, engineering, execution, marketing, and sales, aiming for transparency and customer centricity. Marathon currently holds ongoing projects in Lower Parel, Byculla, Mulund, and land banks located at Bhandup, Thane, Dombivli, and Panvel.

MARATHON Stock Price Movement​

Marathon Nextgen Realty Limited shares rallied on Friday, closing at ₹389.70 after advancing 2.12%. During the session, trading activity saw the stock range between a low of ₹382.00 and a high of ₹396.30, with total traded volume reaching 81,109 shares.