Marathon Nextgen Realty Enters Sewri with ₹450 Crore Residential Redevelopment Project
Marathon Nextgen Realty Limited (MARATHON) has announced its entry into Mumbai’s Sewri micro-market through a Joint Development Agreement (JDA) signed by its subsidiary, Sunset Spaces Private Limited. The project marks the company’s expansion into another high-growth redevelopment segment and has an estimated Gross Development Value (GDV) of approximately ₹450 crore. The announcement was made through a regulatory filing under SEBI’s Listing Regulations.
₹450 Crore Mixed-Use Development Planned
The proposed development will be built on a 7,500-square-metre land parcel in Sewri and will feature:
- A high-rise residential tower
- High-street retail spaces
- Estimated GDV of around ₹450 crore for Marathon Nextgen Realty
The company noted that the project’s development potential and final GDV remain subject to statutory approvals, final development plans, applicable regulations, and prevailing market conditions.
Strategic Entry into South Mumbai
Commenting on the development, Parmeet Shah, Director of Sunset Spaces Private Limited, said the project provides Marathon with its first presence in the Sewri market, which has emerged as one of South Mumbai’s fastest-growing residential destinations.
He stated that the company’s strategy is to expand its footprint across high-potential Mumbai micro-markets through carefully selected redevelopment opportunities. The Sewri project also represents Marathon’s entry into cluster redevelopment, complementing its recent expansion into society redevelopment, thereby creating additional growth avenues while maintaining a disciplined approach to project selection and execution.
Sewri Emerging as a Key Growth Corridor
The company highlighted Sewri’s rapidly improving connectivity and infrastructure as key factors supporting long-term residential demand.
Major infrastructure projects benefiting the locality include:
- Mumbai Trans Harbour Link (Atal Setu), improving connectivity between South Mumbai, Navi Mumbai, and the Mumbai Metropolitan Region.
- Upcoming Sewri-Worli Elevated Connector, which will link the Atal Setu with the Coastal Road and the Bandra-Worli Sea Link, significantly enhancing east-west connectivity.
Apart from infrastructure upgrades, Sewri offers scenic views of Mumbai’s eastern waterfront, including its well-known flamingo habitat, while providing relatively better value compared to several established South Mumbai neighbourhoods.
Regulatory Approvals Next
Following the signing of the Joint Development Agreement, the project will move into the planning and regulatory approval stage. Marathon Nextgen Realty said it will provide further updates regarding approvals, construction timelines, and other material developments in accordance with applicable regulatory requirements.
Expanding Redevelopment Portfolio
The Sewri project strengthens Marathon Nextgen Realty’s redevelopment portfolio as the company continues to expand beyond its traditional markets. With a strategic presence across key Mumbai locations and a growing focus on redevelopment opportunities, the company aims to capitalize on increasing demand for premium residential developments supported by major infrastructure investments.
About Marathon Nextgen Realty
Marathon Group has been developing real estate projects in Mumbai for over 56 years, with a portfolio spanning residential, commercial, retail, townships, affordable housing, and business spaces. The group has completed more than 100 projects and currently has ongoing developments in Lower Parel, Byculla, Mulund, along with land banks in Bhandup, Thane, Dombivli, and Panvel. Its integrated in-house capabilities across design, engineering, execution, marketing, and sales continue to support its long-term growth strategy.