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RSVM Hospitality has acquired over 18.6 acres of land in Thane's Majiwada locality for more than INR 498 crore from entities of the Neterwala Group through two separate transactions. The deal includes land purchases from Chemicals and Ferro Alloys Pvt Ltd and Uni Abex Alloy Products Ltd. The acquisition is part of a structured transaction that was initiated earlier and completed recently. It highlights growing interest in Thane as a development hub due to better connectivity, infrastructure upgrades, and availability of large land parcels compared to Mumbai.
RSVM Hospitality has completed the acquisition of over 18.6 acres of land in Thane for a total consideration exceeding INR 498 crore from entities belonging to the Neterwala Group. The transaction was executed through two separate deals registered in the past week, as per property registration data. Advertisement
The larger land parcel is located in Majiwada, a key residential and commercial micro-market in Thane known for its connectivity to the Eastern Express Highway and proximity to established urban infrastructure. This location has seen steady real estate activity over the past few years due to its access to both Mumbai and other parts of the Mumbai Metropolitan Region.
As part of the transaction, RSVM Hospitality acquired around 8.1 acres from Chemicals and Ferro Alloys Pvt Ltd for approximately INR 239.9 crore. In a parallel deal, the company purchased nearly 10.1 acres from Uni Abex Alloy Products Ltd for about INR 257.8 crore. Both entities are part of the Neterwala Group, indicating that the land monetisation was carried out within group companies.
Chemicals and Ferro Alloys Pvt Ltd also holds a significant stake of around 21.85 percent in Uni Abex Alloy Products Ltd, which shows a financial and operational link between the two sellers. The structure of the deal suggests a planned consolidation and phased divestment of land assets by the group.
The acquisition follows an earlier agreement where Uni Abex Alloy Products had entered into a deal to sell a portion of its Thane land to RSVM Hospitality, with completion subject to regulatory approvals. With the recent registrations, the transaction has now been formally concluded.
Thane has been witnessing a rise in large land deals as developers look to build project pipelines amid limited land availability in Mumbai. Areas such as Majiwada, Ghodbunder Road, and surrounding zones have gained attention due to ongoing infrastructure improvements, including road upgrades and better connectivity to business districts.
Industry experts indicated that such acquisitions are typically aimed at building land banks for future residential or mixed-use developments. Larger contiguous land parcels like this provide flexibility for phased development and integrated projects, which are increasingly preferred in urban expansion zones.
Over the past few years, several developers have shifted focus to peripheral markets like Thane, Navi Mumbai, and Panvel, where land parcels of this scale are still available. This trend has strengthened further with infrastructure projects and growing end-user demand supporting long-term development potential.
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