Adani Realty and Mumbai-based Marathon Nextgen Realty Limited have partnered to develop a commercial and retail project in Byculla, in South Mumbai, with a gross development value (GDV) of Rs 3,400 crore, according to a regulatory filing made by Marathon Nextgen Realty Limited to the stock exchange.
Adani Realty, the real estate arm of the Adani Group, has developed nearly 31 million square feet so far, with another 108 million square feet under development across Ahmedabad, Mumbai, Pune and Gurugram. The company’s portfolio includes residential, commercial and social infrastructure projects.
The South Mumbai Byculla project, named ‘Monte South Commercial’, will be executed as a joint venture between Marathon Nextgen Realty and Adani Realty, spanning approximately 1.2 million square feet, the statement mentioned.
“Monte South Commercial will set a new benchmark for South Mumbai’s business landscape, combining design excellence, efficiency and long-term value,” Marathon Nextgen Realty Ltd Vice Chairman Mayur Shah said.
According to the company statement, the mixed-use development creates a complete live-work ecosystem, where residents can live, work, and unwind within a single integrated community, promoting a walk-to-work culture in Mumbai’s urban core.
The company stated that the project is situated in the heart of Byculla in South Mumbai and Monte South Commercial will feature Grade-A offices, premium retail zones, as well as amenities designed for modern businesses.
“Monte South Commercial forms part of the larger Monte South campus, which comprises four residential towers rising over 64 storeys with a total residential sale carpet area of over 1.6 million square feet. Tower A is ready with an Occupation Certificate (OC). At the same time, Tower B has topped out in RCC and Tower C has reached the 12th slab, progressing at a rapid pace, while Tower D is yet to be launched,” Marathon Nextgen Realty Ltd said in its regulatory filing.
According to the company’s statement, the mixed-use development creates a comprehensive live-work ecosystem, where residents can live, work, and unwind within a single, integrated community, promoting a walk-to-work culture in Mumbai’s urban core.
According to the company statement, the project is being developed following the success of Marathon Futurex at Lower Parel.