Marathon Nextgen Realty Ltd has launched Phase III of its flagship township, Marathon Nexzone, in Panvel, marking a significant expansion for the Mumbai-based developer. The new phase, titled The Nirvana Collection, carries an estimated gross development value (GDV) of over ₹600 crore and reflects the company’s growing commitment to sustainable urban living.
Spread across three acres, the development will feature four premium towers rising 28 storeys each, offering a mix of 2BHK, 3BHK, and select 4BHK homes. Designed as an integrated vertical community, the project includes two retail floors, four parking levels, and an expansive 70,000 sq. ft. amenity zone comprising a swimming pool, gymnasium, co-working spaces, cafés, children’s play zones, and multipurpose lawns.Located strategically in Panvel, the project benefits from the region’s rapidly developing infrastructure including the Mumbai Trans Harbour Link (Atal Setu), Navi Mumbai International Airport, upcoming metro expansion, and the Panvel–Karjat suburban corridor. These transformative urban investments have positioned Panvel as a new growth hub within the Mumbai Metropolitan Region (MMR), attracting both end-users and investors.
A senior company representative said the Nirvana Collection “aims to redefine urban comfort by building a self-sustaining township ecosystem that prioritises modern amenities, green design, and long-term value.” With over 3,500 homes already sold in earlier phases and 2,500 units delivered Marathon Nexzone continues to build a reputation as one of Panvel’s most established large-scale residential communities.The latest phase also aligns with green building standards. It has been pre-certified as a Silver-rated project by the Indian Green Building Council (IGBC) and will integrate solar power systems, EV charging infrastructure, rainwater harvesting, and water recycling plants. These features reflect Marathon Group’s focus on climate-resilient housing and sustainable resource use key priorities for India’s evolving urban landscape.
Analysts note that Panvel’s emergence as a real estate hotspot represents a shift toward planned satellite urbanisation, easing the population density pressures faced by central Mumbai while ensuring improved livability through better infrastructure and affordable pricing. Developers are increasingly investing in Panvel for its connectivity, environmental potential, and policy-backed urban expansion.Marathon Group, which has been active in Mumbai’s property sector for over five decades, continues to diversify its presence across Lower Parel, Byculla, Mulund, Dombivli, and Panvel. The company’s long-term vision, according to industry observers, underscores a broader movement towards sustainable, equitable, and inclusive urban growth in India’s expanding metropolitan regions.
Panvel Marathon Nextgen Launches ₹600 Crore Sustainable Residential Project Named The Nirvana Collection
