Marathon Nextgen Realty announces redevelopment project in Versova, Mumbai

With revenue potential of Rs 450 cr

Marathon Nextgen Realty (MNRL) announced that its subsidiary, Sunset Spaces, has executed a development agreement for the redevelopment of the society located at Versova, Mumbai.

The agreement marks MNRL's foray into society redevelopment, building on the Company's experience in larger-format real estate development and complex urban renewal projects. The project comprises the redevelopment of an existing residential society situated on land admeasuring approximately 1.5 acres, with an estimated Gross Development Value / revenue potential of over Rs 450 crore, subject to receipt of requisite approvals, final plans, applicable regulations and market conditions.