Adani Realty and Mumbai-based listed developer Marathon Nextgen Realty Limited have joined forces to develop a commercial and retail project in the Byculla area of Mumbai, with a gross development value (GDV) of ₹3,400 crore. The project, named Monte South Commercial, will be executed as a joint venture, covering approximately 1.2 million sq ft.
Monte South Commercial is part of the larger Monte South campus, which also includes four residential towers rising over 64 storeys and offering a total residential saleable carpet area of over 1.6 million sq ft. According to Marathon Nextgen Realty, Tower A has received its Occupation Certificate (OC), Tower B has topped out in RCC, Tower C has reached the 12th slab, and Tower D is yet to be launched, demonstrating rapid progress across the campus.
The mixed-use development is designed to create a complete live-work ecosystem, allowing residents to live, work, and unwind within a single integrated community and promoting a walk-to-work culture in Mumbai’s urban core. The commercial segment will feature Grade-A offices, premium retail zones, and modern amenities tailored to contemporary business needs.
“Monte South Commercial will set a new benchmark for South Mumbai’s business landscape, combining design excellence, operational efficiency, and long-term value,” said Mayur Shah, Vice Chairman of Marathon Nextgen Realty Ltd. The project follows the success of Marathon Futurex in Lower Parel and aims to elevate South Mumbai’s commercial real estate profile.
According to property consultancy Knight Frank’s 2024 report, titled South Mumbai – A Renaissance, the region is projected to add 4–6 million sq ft of mixed-use office space over the next 6–8 years. The report notes that Nariman Point’s rents surged 52% to ₹569 per sq ft from 2018 to H1 2024, outpacing rental growth in BKC, where rents grew by 20%. Office rentals in South Mumbai are projected to rise sharply to ₹1,091 per sq ft by 2030, reflecting strong demand for premium commercial space in the city’s core.
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