RSVM Hospitality Acquires Over 18 Acres in Thane for ₹497 Crore from Neterwala Group in Major MMR Land Deal
Mumbai, March 16, 2026: RSVM Hospitality Private Limited has purchased more than 18 acres of land in Thane for over ₹497 crore from two companies belonging to the Neterwala Group, according to property registration data accessed by Propstack .
Transaction Details
According to the documents, the land parcels are located in the Majiwada area of Thane and were acquired through two separate transactions registered on February 20, 2026 .
In the first deal, RSVM Hospitality purchased 32,984 square metres of land from Chemicals and Ferro Alloys Private Limited for ₹239.9 crore. In the second transaction, RSVM Hospitality acquired 40,936 square metres of land from Uni Abex Alloy Products Limited for ₹257.8 crore. The two transactions together add up to 73,920 square metres (around 18.6 acres) with a total deal value of ₹497.8 crore .
Seller Background
Both companies are part of the Neterwala Group. Uni Abex Alloy Products is a listed company, while Chemicals and Ferro Alloys Private Limited is a private entity within the promoter group and holds a 21.85% stake in Uni Abex, according to historical promoter shareholding disclosures .
DSK Legal advised the Neterwala Group of companies on the sale, providing end-to-end legal support including advising on provisions under the Urban Land (Ceiling and Regulation) Act, 1976, and the Land Acquisition, Rehabilitation and Resettlement Act, 2013. The transaction involved a staged closing structure and was successfully completed through careful planning and execution management .Thane's Real Estate Momentum
Thane has emerged as one of the most active real estate markets in the Mumbai Metropolitan Region, driven by improving connectivity, infrastructure upgrades, and rising residential demand. Localities such as Majiwada have seen heightened developer interest owing to their proximity to key arterial roads and established residential micro-markets .
Large land transactions have been gaining momentum across the Mumbai Metropolitan Region as developers and investors look to secure sizable parcels for future projects amid limited land availability in Mumbai. Peripheral markets such as Thane have increasingly attracted interest due to relatively larger contiguous land parcels, improving infrastructure, and strong end-user demand .
According to industry experts, such acquisitions typically precede residential or mixed-use developments, as developers build land banks to capitalise on the region's sustained housing demand and connectivity upgrades .
No Response Received
An email query was sent to RSVM Hospitality, Uni Abex Alloy Products, and Chemicals and Ferro Alloys Private Limited. The story will be updated if a response is received .