Mumbai: Marathon Nextgen Realty Ltd(MNRL), has announced the launch of three new residential projects in Bhandup, Mumbai, significantly expanding its NeoHomes affordable brand. The combined worth of these projects is pegged at ₹370 crore, with almost 2.2 lakh sq ft of saleable area on offer.
The first development is a new tower within the company’s 6.5 acre NeoPark layout, offering about 1.2 lakh sq ft of saleable carpet area and a Gross Development Value (GDV) of ₹200 crore. Along with this, the company is also introducing its second tower, Neovalley Narmada and Neo Park Ashoka, together adding another 1 lakh sq ft of residential space, with a combined GDV of another ₹170 crore.
“We are excited to launch another project in Bhandup — a location that has been integral to Marathon’s growth journey. Over the years, the area has transformed into one of Mumbai’s most promising residential destinations, driven by connectivity upgrades and lifestyle infrastructure. The Neo Park development perfectly aligns with this growth story, offering a combination of smart design, trusted execution, and long-term value. This new launch further strengthens our portfolio in the micro-market and reaffirms Marathon’s commitment to delivering modern, high-quality housing at scale,” Mr. Kaivalya Shah, Director, Marathon Nextgen Realty Limited, said in a press release to the bourses.
This development enhances Marathon’s footprint in Bhandup, a suburb that has become increasingly affordable and well-connected, offering a residential solution in the eastern suburbs of Mumbai. Its NeoHomes brand has been gaining popularity amongst Mumbai’s new-age homebuyers, given that they provide lifestyle-based practical comforts like a fitness centre and WiFi, even though the flats are designed for small families or single occupants.
The company has already delivered over 700 NeoHomes in Bhandup, with four of its upcoming projects —NeoSquare, NeoPark, NeoHills, and NeoSkies —already sold out, according to the company’s website. By dominating in this micro market, Marathon Nextgen has earned itself a reputation for offering affordable homes in the highly sought-after Mumbai Metropolitan Region.
