Possession for the first two towers underway
Marathon Nexzone, our township project at Panvel featuring 12 towers in Phase I, has achieved a major milestone by receiving its very first occupancy certificate (OC). Our first two towers – Zenith and Zodiac, have now received the OC up to the 23rd floor (Maha RERA Projects Zenith-1 & Zodiac-1).
We would like to thank our customers for their tremendous support and faith in us. We are extremely excited to have the first 350 families move into their homes at our township, with the possession formalities and flat hand-over process already underway.
Getting the first OC is a very big step for the project. There are many aspects like water connection, electricity, etc. that have to be in place to get the certificate, so receiving the OC signifies that all these basics are in place now. This puts us in a great position to deliver the subsequent phases as per plan given most of these requirements are now already inspected by the authorities.
We acknowledge the problems we faced in delay of a few towers at Nexzone. We have always strived to be transparent about these issues, which were due to circumstances outside of Marathon’s control including a change in approving authority, and significant delays in certain approvals. Most projects in the area faced similar delays due to the regulatory bottlenecks, but we are extremely happy to have made this huge step forward.
Marathon Nexzone is moving forward in a strong way today. We already have more than 2000 customers who are part of this project, and the community grows stronger each day. Tremendous progress has been made in terms of construction, with 10 towers having already completed till the 25th floor.
With significant progress being made with respect to the new airport (barely 10 minutes away from Nexzone) and other major infrastructure projects like the Trans-Harbour sea link, CST- Panvel AC rail etc. already underway, the future looks extremely bright for Marathon Nexzone.