Mumbai’s commercial real estate market continues to attract financial services companies, with three firms leasing a combined 28,976 sq ft of office space at Marathon Futurex in Lower Parel for a monthly rent of ₹99.44 lakh. According to property registration documents accessed by CRE Matrix, the companies have leased five office units across Wings B and C of the commercial development.
What Are The Key Details Of The Marathon Futurex Lease Transaction?
The transaction covers five office units on the third floor of Wings B and C at Marathon Futurex, located on N M Joshi Marg, Lower Parel. The combined chargeable area spans 28,976 sq ft, with the three companies entering into separate lease agreements. The transaction was registered on September 24, 2026, and involves a total security deposit of ₹3.97 crore.
Arvesta Financial Services Private Limited has leased Unit 301 in Wing B, covering 7,518 sq ft, at a monthly rent of ₹26.68 lakh. The agreement also includes five car parking spaces.
Meanwhile, Neo Wealth Management Private Limited has leased three units across the development. These include Unit 302 in Wing B, measuring 3,740 sq ft, at a monthly rent of ₹13.27 lakh; Unit 303 in Wing B, spanning 6,313 sq ft, at ₹19.04 lakh per month; and Unit 304 in Wing C, covering 6,178 sq ft, at a monthly rent of ₹21.93 lakh.
Additionally, Neo Markets Services Private Limited has leased Unit 305 in Wing C, measuring 5,212 sq ft, for a monthly rent of ₹18.50 lakh.
Marathon Realty Private Limited and Marathon Nextgen Realty Limited own all five leased units.
What Are The Lease Terms And Rental Escalation Details?
The three companies have entered into lease agreements for a period of five years, commencing January 20, 2027, and ending January 19, 2032. The rent commencement date is also January 20, 2027.
Furthermore, the agreements include an annual rental escalation of 5%, allowing the property owners to increase the rent periodically during the lease tenure. The combined monthly rental commitment stands at ₹99.44 lakh, while the total security deposit amounts to ₹3.97 crore.
Why Does Lower Parel Continue To Attract Financial Services Companies?
Lower Parel has established itself as one of Mumbai’s prominent commercial and business districts, attracting companies across banking, financial services, consulting, and other corporate sectors. Its strategic location in central Mumbai, established commercial infrastructure, and connectivity to key business districts make it an attractive destination for office occupiers.
Moreover, developments such as Marathon Futurex offer Grade A commercial office spaces that cater to the requirements of large corporate occupiers. The latest transaction further highlights the demand for quality office spaces in Lower Parel, particularly from financial services companies looking to establish or expand their presence in Mumbai.
As financial services firms continue to evaluate their office space requirements, large-scale leasing transactions such as this reflect the sustained occupier interest in established commercial destinations across the city.
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