Panvel Launch
The Nirvana Collection at Marathon Nexzone: Phase III in Panvel
Marathon Nextgen Realty has launched Phase III of its Marathon Nexzone township at Palaspe Phata, Panvel, as The Nirvana Collection, and bookings have been reported open since early 2026. The phase has four 28-storey towers, with 2 to 5 BHK homes priced from ₹98 lakh all-inclusive, according to the developer.
| Developer | Marathon Nextgen Realty Ltd (MNRL), the Marathon group's Mumbai developer |
|---|---|
| Location | Palaspe Phata, Panvel, New Panvel, Navi Mumbai, Raigad district, Maharashtra (PIN 410206 per the developer) |
| Status (as of October 2026) | Launched; bookings reported open. Formal launch release dated 25 February 2026 |
| Configurations | 2 BHK, 3.5 BHK, 4 / 4.5 BHK and 5 BHK per the developer's pricing page; the launch release also mentions 2 BHK, 3 BHK and select 4 BHK homes |
| Entry price | 2 BHK from ₹98 lakh, all-inclusive (656 sq ft carpet area) |
| Scale | Four 28-storey towers on about 3 acres; RERA carpet area of about 4.90 lakh sq ft; gross development value above ₹600 crore |
| Possession | 2030 per the developer's website; RERA-recorded expected date 1 December 2030 |
| MahaRERA numbers | Wing A PM1273032502296, Wing B PM1273032502304, Wing C PM1273032600021, Wing D PM1273032502380 |
Status and launch timeline
Marathon Nextgen Realty Limited (MNRL) issued a press release dated 12 November 2025 announcing Phase III of its flagship township, Marathon Nexzone, in Panvel. The formal launch of the phase as The Nirvana Collection followed in February 2026. The developer described it as the final and most premium phase within its 25-acre township project.
- 12 November 2025: launch of Phase III announced.
- 25 February 2026: formal launch release for The Nirvana Collection.
- Early March 2026: the developer said bookings for The Nirvana Collection were open.
- July 2026: IGBC precertification certificate dated for the towers.
As of October 2026, the phase is therefore on sale rather than in a pre-launch stage. Construction is at an early stage; see the construction section below.
Configurations and prices
The developer's pricing page lists 2 BHK, 3.5 BHK, 4 BHK, and 5 BHK apartments in this collection. Prices are developer-quoted, all-inclusive figures and may change.
| Configuration | Carpet area | Quoted price (all-inclusive) |
|---|---|---|
| 2 BHK | 656 sq ft | from ₹98 lakh |
| 2 BHK (second plan) | 710 sq ft | ₹1.08 crore |
| 3.5 BHK | 1,080 sq ft | ₹1.69 crore |
| 4 / 4.5 BHK | 1,385 sq ft | ₹1.96 crore |
| 5 BHK | 1,431 sq ft | ₹2.16 crore |
The developer advertises a 25:25:50 payment plan and an exclusive launch discount. The developer's own launch release describes the 3 BHK as part of the mix alongside 2 BHK and select 4 BHK homes, which is the only detail available on that configuration.
Towers, retail and amenities
The phase comprises four premium towers of 28 storeys each, offering a wide range of luxurious 2BHK, 3BHK and select 4 BHK combination homes, along with two retail floors, four parking levels, and a 70,000 sq ft stilt-level amenity zone.
Listed amenities include a swimming pool with waterfall and jacuzzi, fitness centre with yoga and meditation zones, multi-purpose lawns, pet zone, children's play areas, co-working spaces, café, indoor gaming zones.
The two-storey high-street retail promenade, of approximately 70,000 square feet RERA Carpet Area is planned within the phase. A later IGBC-related update from the developer describes a retail plaza of 100,000 sq ft or more with frontage on NH4B, which differs from the 70,000 sq ft figure in the launch material.
Construction, green rating and RERA
Marathon Nexzone Phase 3, The Nirvana Collection at Panvel, Navi Mumbai, has received Indian Green Building Council (IGBC) Silver Precertification under the IGBC Green Homes Rating System. The certificate covers towers S6 A, B, C and D. Precertification is provisional until final certification.
The developer's construction update for the Nirvana section, last dated 6 April 2026, shows excavation work 70% complete and footing and column reinforcement binding 15% complete. Possession is stated as 2030 on the developer's website, and the expected possession date recorded under RERA is 1 December 2030.
The phase is registered under MahaRERA with four wing-level numbers: PM1273032502296 (Wing A), PM1273032502304 (Wing B), PM1273032600021 (Wing C) and PM1273032502380 (Wing D). Earlier Nexzone phases carry different registration numbers.
Location and demand context
The site sits on NH4B (JNPT Highway) at Palaspe Phata, in the Panvel area of Navi Mumbai. The developer says the project is just 10 minutes from the newly opened Navi Mumbai International Airport.
The developer ties the timing of the launch to enhanced connectivity and resultant boost in real estate demand due to recent infrastructure developments such as the operational Navi Mumbai International Airport and the Atal Setu. Its launch material also says Panvel's infrastructure story has moved from anticipation to reality.
Township track record
The developer reports that Marathon Nexzone has sold over 3,500 homes, delivered more than 2,500 with Occupation Certificates, and currently has around 1,000 homes under development across 16 towers. In its later IGBC-related update, the developer describes the township as an established, lived-in community with 2,800+ homes delivered and 5,000+ residents.
Frequently asked questions
Is The Nirvana Collection still at pre-launch stage?
No. The developer announced the phase in November 2025, formally launched it in February 2026, and said bookings for The Nirvana Collection were open. As of October 2026, it is on sale.
What sizes and prices are offered?
The developer lists 2 BHK homes of 656 sq ft carpet area from ₹98 lakh, up to 5 BHK homes of 1,431 sq ft at ₹2.16 crore, all-inclusive. Prices may change and are the developer's quotes.
When is possession expected?
The developer's website states possession in 2030. The expected possession date recorded under RERA is 1 December 2030.
Is the project registered with MahaRERA?
Yes. The phase carries four MahaRERA wing-level numbers: PM1273032502296, PM1273032502304, PM1273032600021 and PM1273032502380.
How far is the project from the airport and Atal Setu?
The developer says the airport is 10 minutes away. Its launch material also refers to Atal Setu as a connectivity link to South Mumbai, though travel times vary with traffic.