Option 1: Bhitarkanika Mangroves are located in the state of Odisha in India. These mangroves are rich in biodiversity rather than being a result of repeated sea level falls.

Option 2: Marakkanam Salt Pans, located in Tamil Nadu, India, are basically vast expanses of land used for the extraction of salt from the seawater. They are not an example of an extensive marshland formed due to repeated sea level falls.

Option 3: Naupada Swamp, located in Andhra Pradesh, India, is not known for being a marshland resulting from repeated falls in sea level.

Option 4: The Rann of Kutch, situated in the Gujarat State of India, is a seasonally marshy saline clay desert. This marshy area is the perfect example of a region resulting from repeated falls in the sea level giving rise to the extensive marshland we see today. Thus, the Rann of Kutch is the correct answer.