Adani Realty & Marathon Nextgen Join Forces for ₹3,400 Cr Mixed-Use Project in South Mumbai's Byculla

Adani Realty and Marathon Nextgen Realty have announced their collaboration to develop a high-value commercial and retail complex in Mumbai's Byculla neighbourhood, signalling renewed confidence in South Mumbai's transformation into a modern business district.

₹3,400 Crore Joint Venture Unveiled in South Mumbai's Byculla

The two developers revealed their joint-venture partnership in October 2025 to create Monte South Commercial, a landmark project with an estimated Gross Development Value of approximately ₹3,400 crore. The development is set to occupy a prominent position within South Mumbai's evolving real estate landscape.

Mixed-Use Campus Spanning Over 1.2 Million Square Feet

According to the companies, the commercial project will encompass roughly 1.2 million square feet dedicated to office and retail space. Monte South Commercial is designed as part of the larger Monte South campus, which already features four residential towers rising above 64 storeys and comprising over 1.6 million square feet of residential carpet area.

The developers described the venture as a premium Grade-A office and retail ecosystem aimed at attracting modern enterprises, upscale retail brands, and lifestyle amenities. Similar to commercial spaces across Mumbai seeing rising demand, this project is positioned to capitalise on corporate appetite for quality office environments.

Strategic Partnership Merges National Scale with Local Expertise

Industry observers noted that the collaboration brings together Adani Realty's extensive national presence and Marathon Nextgen's deep understanding of Mumbai's property market. The partnership is expected to establish a new benchmark for commercial development in South Mumbai, an area traditionally dominated by residential projects.

Real estate analysts pointed out that Mumbai's real estate market continues to attract significant investments, with developers increasingly focusing on integrated mixed-use developments.

South Mumbai's Commercial Revival Gains Momentum

The announcement reflects growing investor confidence in South Mumbai's potential as a revitalised commercial hub, according to market experts. Demand for premium office spaces and flagship retail destinations has been steadily increasing in the area, making it an attractive proposition for large-scale developers.

The integrated live-work-play model being adopted at Monte South aligns with contemporary urban development trends favoured by both corporates and affluent residents. Just as Lower Parel has emerged as a premium property market, Byculla is now being positioned as the next growth corridor.

By channelling nearly ₹3,400 crore into a single location, both Adani Realty and Marathon Nextgen are betting heavily on Mumbai's infrastructure improvements, strategic location advantages, and institutional demand for quality commercial real estate. The developers suggested that the project could provide rare access to prime space in a market characterised by tight supply and potentially rising rental rates.

Implications for Mumbai's Real Estate Landscape

Industry watchers believe the Monte South Commercial partnership represents a strategic evolution from standalone residential developments to comprehensive mixed-use commercial hubs in Mumbai's core areas. With its scale, strategic positioning, and development intent, the project may set new standards for commercial property development in Mumbai and influence future projects in the city.

The announcement comes at a time when various Mumbai locations are witnessing heightened real estate activity, with developers focusing on premium segments and institutional-grade properties.

Disclaimer: This news article is based on information available as of October 2025. Readers are advised to verify all project details, investment figures, timelines, and development plans directly with the respective developers or official sources before making any investment or business decisions. Real estate projects are subject to regulatory approvals, market conditions, and potential modifications. The information presented here is for general awareness purposes only and should not be construed as investment advice or an endorsement of any developer or project.