Thane / Mumbai, March 2026 – RSVM Hospitality has successfully acquired more than 18.6 acres of land in Thane for over ₹498 crore from entities associated with the Neterwala Group, in a significant land transaction within the Mumbai Metropolitan Region. The land parcels, situated at Majiwada in the Thane district, were obtained through two distinct registered transactions on February 20. In the initial transaction, Chemicals and Ferro Alloys Private Limited sold an 8.1-acre plot to RSVM Hospitality for ₹239.9 crore. The subsequent transaction involved the acquisition of 10.1 acres from Uni Abex Alloy Products Limited, a publicly listed company for ₹257.8 crore, as per property registration documents obtained from Propstack. Both sellers are affiliated with the Neterwala Group. DSK Legal advised the Neterwala Group on the transaction, which involved a staged closing structure and required navigation of provisions under both the Urban Land Ceiling and Regulation Act, 1976 and the Land Acquisition Rehabilitation and Resettlement Act, 2013.
Majiwada, Thane: A Micro-Market in Transition
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.
Thane has emerged as one of Maharashtra’s most active land acquisition markets over the past 18 months. Proximity to Mumbai, improving metro connectivity, and the availability of large land parcels, increasingly rare in Mumbai itself have drawn hospitality, residential, and commercial developers to the district. Majiwada’s position within Thane’s established core, combined with its expressway access, makes it particularly well-suited for large-format mixed-use or hospitality developments.
