Neo Wealth leases 16,231 sq ft at Marathon Futurex, pays Rs 54 lakh monthly

Financial services firms Neo Wealth Management, Neo Markets Services and Arvesta Financial Services have leased a combined 28,976 sq ft of office space at Marathon Futurex in Mumbai’s Lower Parel for a total monthly rent of Rs 99.45 lakh, according to property registration data shared by CRE Matrix.

The transaction covers five office units on the third floor across Wings B and C of the commercial development. The agreements were registered on September 24, 2026, and have a five-year tenure, running from January 20, 2027, to January 19, 2032.

The combined monthly rent of Rs 99.45 lakh translates into an annual rental outgo of approximately Rs 11.93 crore at the starting rate. The agreements provide for a 5% annual escalation in rent. The tenants have together paid a security deposit of Rs 3.98 crore and will have access to 20 car parking spaces.

Arvesta Financial Services has taken Unit 301 in Wing B, measuring 7,518 sq ft, at a monthly rent of Rs 26.69 lakh. The security deposit for the unit is Rs 1.07 crore, and the agreement includes five parking spaces.

Neo Wealth Management has leased three adjoining units with a combined chargeable area of 16,231 sq ft. The monthly rent for these offices adds up to Rs 54.26 lakh, with a combined security deposit of Rs 2.17 crore and 11 parking spaces.

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Neo Markets Services has taken another unit in Wing C, measuring 5,212 sq ft, for a monthly rent of Rs 18.50 lakh. The security deposit is Rs 74.01 lakh, and the agreement includes four parking spaces.

Based on the combined chargeable area and starting monthly rent, the transaction works out to an average rental rate of approximately Rs 343 per sq ft per month.

Earlier this week, Neo Wealth and Asset Management (Neo Group) announced that it has entered investment banking, appointing Vikas Khattar as co-founder and executive vice chairman to head the new vertical.

The leasing activity highlights continued demand for established commercial locations in Mumbai from financial services companies. Lower Parel has developed into a prominent corporate and financial district, supported by Grade A office infrastructure, connectivity and proximity to other business centres.

A notable feature of the transaction is the consolidation of multiple office units within the same commercial development, with Neo Wealth Management accounting for three of the five units.

“The leasing of approximately 29,000 sq ft at Marathon Futurex in Lower Parel by Neo Wealth Management, Neo Markets Services and Arvesta Financial Services reflects the continued preference of financial services firms for established commercial business districts in Mumbai,” said Abhishek Kiran Gupta, chief executive officer of CRE Matrix.

“What makes this transaction particularly interesting is the consolidation of multiple office units within the same commercial development, highlighting the importance of operational efficiency and business synergies,” he said.

"Transactions of this nature reinforce the sustained relevance of established office markets such as Lower Parel, particularly among financial services businesses seeking quality commercial spaces in strategic locations," said Gupta.