Marathon Group To Invest Over Rs 425 Crores In Panvel Project

 

 
 

Realty developer Marathon Group is planning to invest over Rs 425 crores to develop its residential project Marathon NexZone II in Panvel near Mumbai.

This is the second phase of the total 26 acre project Marathon NexZone, and the company is looking to finance the same through internal accruals, customer advances and construction finance. “Of total 1,000 apartments, we have already launched 450 units and have received good response so far. We have already delivered 1,000 apartments out of total 2,200 units sold under the first phase,” said Mayur Shah, Managing Director, Marathon Group.

The second phase of the project will offer a mix of both 1 and 2 bedroom homes with prices starting from Rs 44 lakh and
Rs 62.5 lakh, respectively. This is the first time the developer is offering 1-bedroom configuration in this project. Marathon Nexzone phase II will have 4 towers of 33 storey each with 20,000 sq. ft of retail space.