RSVM Hospitality Buys 18.6 Acres in Thane’s Majiwada for 497.8 Crore

RSVM Hospitality Private Limited has acquired over 18 acres of land in Thane’s Majiwada area for nearly ₹498 crore, according to property registration documents, signalling a significant land deal in one of the Mumbai Metropolitan Region’s rapidly developing corridors.

The transactions, registered on February 20, 2026, involve two land parcels purchased from companies belonging to the Neterwala Group. In the first deal, RSVM Hospitality bought 32,984 square metres of land from Chemicals and Ferro Alloys Private Limited for ₹239.9 crore. In a separate transaction on the same day, the company acquired an additional 40,936 square metres from Uni Abex Alloy Products Limited for ₹257.8 crore.

Together, the purchases total 73,920 square metres roughly 18.6 acres with a combined deal value of ₹497.8 crore, data from real estate analytics firm Propstack shows.

Both sellers are part of the Neterwala Group. Uni Abex Alloy Products is a listed company, while Chemicals and Ferro Alloys Private Limited operates as a private entity within the promoter group. Historical shareholding disclosures show that Chemicals and Ferro Alloys holds a 21.85% stake in Uni Abex.

Located along the busy Ghodbunder Road corridor, Majiwada has emerged as a strategic real estate hub due to its connectivity to Mumbai, Navi Mumbai and key highways, making large land acquisitions in the area increasingly rare and closely watched by the market.