Marathon Nextgen Realty Launches ₹600 Crore Residential Development in Panvel

Marathon Nextgen Realty Limited ("MNRL"), announced the launch of Phase III of its flagship township, Marathon Nexzone, in Panvel. The new phase, titled The Nirvana Collection, spans over approximately 3 acres with an estimated RERA Carpet Area of around 4.90 lakh sq.ft. and an estimated Gross Development of Value in excess of ₹ 600 Crore.

It comprises four premium towers of 28 storeys each, offering a wide range of luxurious 2BHK , 3BHK and select 4 BHK combination homes, along with two retail floors , four parking levels, and a 70,000 sq. ft. stilt-level covered and open to sky amenity zone. Residents will enjoy a range of modern amenities, including a swimming pool with waterfall and jacuzzi, fitness centre with yoga and meditation zones, multi-purpose lawns, pet zone, children's play areas, co-working spaces, café , indoor gaming zones. The two-storey high-street retail promenade, of approximately 70,000 square feet RERA Carpet Area will offer easy access to essential and lifestyle conveniences, creating a complete urban ecosystem within the township.

This strategic expansion comes at a time when Panvel is rapidly emerging as one of the most promising destinations in the Mumbai Metropolitan Region. Transformative infrastructure including the Atal Setu (Mumbai Trans Harbour Link), the recently inaugurated Navi Mumbai International Airport, enhanced metro connectivity, and the Panvel-Karjat suburban railway corridor have positioned Panvel as a strategic location offering the perfect balance of connectivity, affordability, and quality of life, making it an ideal setting for Marathon Nexzone's continued growth.

Marathon Nexzone has already emerged as one of Panvel's most sought-after residential townships. The project has already witness the sales of more than 3500 homes, delivery with Occupation Certificate of more than 2,500 homes, with another ~1,000 homes under development across its 16 towers. The launch of The Nirvana Collection marks a new milestone in this journey, adding premium residences and retail spaces that elevate the township's integrated living experience.

The Nirvana Collection is proposed to be a Silver Rated Pre-Certified Green Building by the Indian Green Building Council Silver (IGBC), underscoring MNRL's focus on sustainable and future-ready developments. It incorporates solar panels for common areas, EV charging stations, water-efficient plumbing, recycling systems, and energysaving technologies to promote eco-friendly living and long-term efficiency.

Commenting on the announcement, Mr. Samyag Shah, Director, Marathon Nextgen Realty Limited, said: "Marathon Nexzone began as a vision to create a landmark township in Panvel, and today that vision continues to grow stronger with The Nirvana Collection. This new phase redefines modern living by creating a self-sufficient residential ecosystem and planning of thoughtfully designed homes & curated experiences with a strong focus on sustainability. As Panvel transforms into a key residential and commercial hub with the Atal Setu and Navi Mumbai Airport driving growth, we are excited to offer homebuyers an opportunity to be part of this dynamic future while enjoying an elevated lifestyle."

Shares of Marathon Nextgen Realty Limited was last trading in BSE at Rs. 585.30 as compared to the previous close of Rs. 581.55. The total number of shares traded during the day was 10868 in over 325 trades.

The stock hit an intraday high of Rs. 600.50 and intraday low of 583.20. The net turnover during the day was Rs. 6408048.00.

Source : Equity Bulls

Keywords

MarathonNextgenRealty INE182D01020 ResidentialDevelopment NewLaunch Panvel