India, July 3 -- Mumbai-based, listed real estate developer Marathon Nextgen Realty Limited (MNRL)'s subsidiary, Sunset Spaces Private Limited (Sunset Spaces), has signed a Development Agreement (DA) for the redevelopment of a housing society in Mumbai's Versova. The company eyes over Rs.450 crore in revenue from the project.

According to the company statement, the agreement marks MNRL's foray into society redevelopment.

"The project comprises the redevelopment of an existing residential society situated on land admeasuring approximately 1.5 acres, with an estimated Gross Development Value (GDV) of over Rs.450 crore, subject to receipt of requisite approvals, final plans, applicable regulations and market conditions," the company said i...