Even as the real estate market conditions are improving and luxury properties evincing buyer interest, the Marathon Group is seeking to redefine Mumbai’s landscape with its latest iconic proposition +Monte South+ showcasing an Oasis in the Sky, an Amazon Jungle below with a Pond, swimming pools and artificial waterbody beaches, verdant areas and jogging paths, world class amenities and Korean Kumkang technology that marries ‘worth’ to ‘luxury’, according to Mayur R Shah, MD, Marathon Group.
“With the developer fraternity witnessing challenging times where demonetization, RERA, GST and even the Indian Government’s vision of ‘Housing for All’ provided a steep trajectory for Mumbai as a market, part of 2017 to 2018 early quarter saw the Industry facing a slump in sales cycles across MMR and segments. However, now the market is reviving with projects doing good across MMR due to impact of customer-friendly RERA policies and construction of “Monte South” – a JV of Adani Realty and Mumbai-based Marathon Group – is in full swing,” Shah told mediapersons.
“Monte South is an iconic project designed by the celebrated Hafeez Contractor comprising four proposed 60-storey towers with luxurious 2.5 BKH and 3.5 BHK and combination apartments with panoramic views being highlighted as an “Oasis-in-the-Sky” across 12.5 acres of proposed development featuring landscapes, waterscapes, jogging paths and cabanas, beaches for volleyball and Amazon-like jungles, ponds and fronds at Khatau Mills compound in Mumbai,” he said adding that sports too is highlighted here through a skating rink, swimming pool, golf putting range, well-equipped clubhouse and gymnasium.
Noting that the project expenditure presently amounts to Rs 800 crores with completion set for around 7 to 8 years, he said no brick or mortar is being used in the towers’ construction which comprises use of casting and hi-performance concrete, double-glazed windows façade for reducing sun glare and airconditioning costs — even in the designer toilets, where the master toilet has a ‘jacuzzi’, hi-speed elevators moving 4 metres per second, and the 8th floor housing a clubhouse and a1.5 kms jogging track.
“Like Lower Parel area of Mumbai that changed into a luxury market between 2007-2011 and today boasts some of the most iconic residential and commercial developments, the next 20 years will see Byculla becoming a premium location with a Mono Rail nearby and +Monte South+ showcasing its panoramic coverage of its 12-acre landscape with its 5 to 6 acres of green space and seven levels of car parking. So we have prepared a “Dream Flat” for viewing by traders, businesspersons, corporates and financial services to highlight that even the working class can afford such luxury.”
With luxury real estate looking up, buyers are evincing interest now as interest rates are still going low, subsidized loans are possible below Rs 50 lakhs, and the last 6 to 9 months have witnessed substantial bookings from not only around India, but even the Middle East, USA and Singapore, Shah said while adding that the Khatau Mills land in Borivali too has been acquired by the Marathon Group.
