Marathon Nextgen Realty Launches ₹600 Crore Residential Development in Panvel
Marathon Nextgen Realty launched Phase III of Marathon Nexzone in Panvel, "The Nirvana Collection," a ₹600 Crore residential development across 3 acres with premium homes and retail spaces, focusing on sustainability.
The launch of a large-scale residential project with a high estimated Gross Development Value of over ₹600 Crore is a major business development that is expected to significantly contribute to the company's future revenue and market position, thus having a high impact on the company.
The launch of a significant new residential development with an estimated Gross Development Value exceeding ₹600 Crore indicates strong business expansion and revenue potential for Marathon Nextgen Realty Limited in a strategically important and growing region.
Marathon Nextgen Realty Limited (MNRL) has announced the launch of Phase III, "The Nirvana Collection," of its flagship township, Marathon Nexzone, in Panvel. This new phase is a significant expansion with the following key details: * It spans approximately 3 acres with an estimated RERA Carpet Area of around 4.90 lakh sq. ft. * The estimated Gross Development Value (GDV) is in excess of ₹ 600 Crore. * The development comprises four premium 28-storey towers, offering luxurious 2BHK, 3BHK, and select 4BHK combination homes. * It also includes two retail floors, four parking levels, and a 70,000 sq. ft. stilt-level amenity zone with modern facilities like a swimming pool, fitness centre, co-working spaces, and indoor gaming zones. * A two-storey high-street retail promenade of approximately 70,000 sq. ft. RERA Carpet Area will provide essential and lifestyle conveniences. * The Nirvana Collection is proposed to be a Silver Rated Pre-Certified Green Building by the Indian Green Building Council (IGBC), focusing on sustainability with solar panels, EV charging stations, and water-efficient systems.
Mr. Samyag Shah, Director, Marathon Nextgen Realty Limited, commented that The Nirvana Collection redefines modern living by creating a self-sufficient residential ecosystem with thoughtfully designed homes and curated experiences, emphasizing sustainability. He highlighted Panvel's transformation into a key residential and commercial hub due to infrastructure projects like the Atal Setu and Navi Mumbai International Airport.
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Marathon Nextgen Realty Limited filed this with the NSE as a statutory disclosure, categorised under product launches. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Marathon Nextgen Realty Limited. Read the original for the full detail.