Financial firms lease 28,976 sq ft at Marathon Futurex in Lower Parel

Three financial services firms have leased 28,976 sq ft of office space at Marathon Futurex, a commercial building on N M Joshi Marg in Lower Parel, Mumbai, for a combined rent of about ₹99.45 lakh a month. The lease agreements were registered on 24 September 2026. The details were reported on 3 November 2026, based on registration data compiled by real estate data firm CRE Matrix.

Who has taken which units

The tenants are Neo Wealth Management Private Limited, Neo Markets Services Private Limited and Arvesta Financial Services Private Limited. All five units are on the third floor, across Wings B and C of the building.

• Neo Wealth Management: three units (302 and 303 in Wing B, 304 in Wing C), 16,231 sq ft, about ₹54.26 lakh a month
• Neo Markets Services: unit 305 in Wing C, 5,212 sq ft, about ₹18.50 lakh a month
• Arvesta Financial Services: unit 301 in Wing B, 7,518 sq ft, about ₹26.69 lakh a month

The registration data shows that all five units are owned by Marathon Realty Private Limited and Marathon Nextgen Realty Limited.

Rent, deposits and parking

The leases are five-year agreements, running from 20 January 2027 to 19 January 2032. Rent rises by 5% a year over the term. At the starting rent, the tenants' combined annual outgo is about ₹11.93 crore.

Security deposits total about ₹3.98 crore. Neo Wealth's deposit of ₹2.17 crore is the largest. The tenants have 20 car parking spaces between them: 11 for Neo Wealth, five for Arvesta and four for Neo Markets.

Across the full 28,976 sq ft, the combined rent works out to about ₹343 per sq ft per month, based on the totals reported. On its own 16,231 sq ft, Neo Wealth's starting rent comes to about ₹334 per sq ft per month. These rates are our calculations from the reported figures.

Location and what it means for the market

Marathon Futurex sits in the Mafatlal Mills compound in Lower Parel East. The developer, Marathon Realty, says on its website that it played a part in developing Lower Parel as a commercial hub through its Era, Innova and Futurex projects. Lower Parel has a Metro Line 3 (Aqua Line) station near Palladium Mall, which an analysis published in 2026 says has been fully operational since October 2025. The Sewri-Worli Elevated Connector, a 4.5 km elevated corridor linking the eastern waterfront to the Bandra-Worli Sea Link, is targeted for completion in late 2026, according to an MMRDA estimate. That is an estimate, not a formal opening date.

CRE Matrix chief executive Abhishek Kiran Gupta said the leasing reflects the continued preference of financial services firms for established commercial districts in Mumbai. He also said that consolidating several units within one development points to operational efficiency and business synergies.

This is a leasing transaction in an existing building, not a new project launch. The sources report no sales result, price change, delay or dispute for the developer. For office occupiers, the deal shows that one tenant has chosen to bring several units together in the same building. Home buyers are not directly affected by the deal.

The next date to watch is 20 January 2027, when the leases start and rent begins. The sources report no further announced steps for Marathon Futurex, Marathon Realty or the three tenants.