India, July 3 -- Marathon Nextgen Realty Ltd. (MNRL), through its subsidiary Sunset Spaces Pvt. Ltd., has signed a development agreement to redevelop a residential society in Versova, Mumbai, marking the company's entry into the society redevelopment segment.
The project spans around 1.5 acres and has an estimated gross development value (GDV) of over Rs 450 crore, subject to regulatory approvals and market conditions.
Planned as a premium, low-density residential development, the project aims to offer larger open and landscaped spaces compared to conventional redevelopment projects in the area. Sunset Spaces will oversee the project's planning, approvals, design, construction, and execution.
The company said the project is the first ste...